Končar Elektroindustrija (EI) Group increased its total revenues by more than five percent in the first nine months of this year, and net profit by more than 7 percent, according to the consolidated financial report published today by the company.
The profit after taxation for the Končar EI Group reached 108.4 million kuna, which is 7.2 percent higher than in the same period last year. Of this, 89.43 million kuna relates to the net profit of the Group attributable to the shareholders of the parent company – this profit is 8.3 million kuna higher than in the same period last year. Končar also states that out of the 21 companies that make up the Končar Group, five reported a loss of 25.74 million kuna.
Total revenues of the Group in the first nine months reached 1.9 billion kuna, an increase of 5.1 percent. The majority of revenues come from sales, which increased by 3.2 percent to 1.695 billion kuna. In the domestic market, sales revenue amounted to 812.4 million kuna, which is 18.6 percent higher compared to the same period last year, while exports amounted to 882.5 million kuna, or 7.8 percent less.
In the consolidated sales revenues, companies in the Energy and Transport business area achieved sales of 1.4 billion kuna or 84 percent of the Group’s total sales, companies in the Trade business area 125.8 million kuna or 7 percent, companies in the Industry business area 85.8 million kuna or 5 percent, and three companies within Special Activities 64 million kuna or 4 percent of the Group’s total sales.
The most significant exports were achieved by the Group to Germany worth 101.2 million kuna, Sweden 80.6 million kuna, the Czech Republic 50.3 million kuna, Finland 49.8 million kuna, Bosnia and Herzegovina 47.1 million kuna, Austria 40.7 million kuna, and Russia 35.9 million kuna.
The Končar EI Group also increased its total expenses by 5.1 percent during the observed period, to 1.79 billion kuna. According to current estimates from the Management, revenues from the sale of products and services for the entire year 2012 will reach 2.4 billion kuna, which is 3 percent higher than achieved in 2011. For the same accounting period, it is estimated that the portion of profit attributable to the shareholders of the parent company will amount to around 138 million kuna, which is slightly more than previously planned for 2012.
