The company Ericsson Nikola Tesla achieved a net profit of 92.96 million kuna in the first nine months of this year, which is an increase of as much as 269 percent compared to the same period last year, according to the financial report published today by the company.
‘Compared to the same period last year, there has been an increase in almost all key financial indicators. Net profit increased 3.7 times to 93 million kuna. A strong cash flow from operating activities of 110.9 million kuna was also achieved, as a result of a focus on cash conversion, so that total cash resources, including short-term financial assets, amounted to 472.2 million kuna at the end of the third quarter,’ says the company’s president, Gordana Kovačević, in a comment on the results achieved.
Sales revenue in the first nine months of this year reached 1.56 billion kuna, an increase of 87 percent compared to the same period last year, primarily due to the increase in revenue in the Russian market.
The structure of revenue by markets has significantly changed in favor of export markets. In total sales revenue, the share of the domestic market is 12 percent, while exports account for 88 percent, it is stated.
In the domestic market, a total of 189.8 million kuna in sales revenue was achieved, which is 9 percent less compared to the same period last year, primarily due to lower investments by operators, the report states.
In export markets (excluding Ericsson’s market), a total of 992.1 million kuna in sales revenue was achieved, which is 229 percent higher compared to the same period last year.
In the Commonwealth of Independent States market, sales revenue is 7.5 times higher compared to the same period last year, primarily as a result of the realization of contracts concluded in the Russian market, amounting to 851.9 million kuna.
Sales revenue in Ericsson’s market amounted to 382.9 million kuna, an increase of 17 percent compared to the same period last year.
