The Supervisory Board of Končar – Elektroindustrija acknowledged the unaudited financial reports on the operations of the Končar Group for the year 2015.
According to the unaudited data for 2015, the companies of the Končar Group achieved consolidated revenues from the sale of products and services amounting to HRK 3,049.2 million, which is 15.1 percent higher compared to the achievement in the same period of 2014. Total revenues for 2015 amounted to HRK 3,287.9 million, which is 11.6 percent higher than the achievement in 2014. Total expenses in the same period amounted to HRK 3,121.9 million, an increase of 12.6 percent compared to the results achieved in 2014. Profit before tax amounts to HRK 166 million, and profit after tax amounts to HRK 148.5 million. The non-controlling interest (minority interest) accounts for HRK 23.1 million in profit, while the shareholders of the Group’s parent company receive HRK 125.4 million, which is 15.4 percent higher than the plan for 2015.
In the domestic market, revenues from the sale of products and services amounted to HRK 1,742.5 million, which is 29 percent higher than the achievement for 2014. Revenues from the sale of products and services in the foreign market amounted to HRK 1,306.6 million, which is 0.7 percent higher than the achievement in the same period last year. Revenues from the sale of products and services abroad account for 43 percent of the total consolidated revenues from the sale of products and services.
The operations in the domestic market in 2015 were marked by the delivery of trains for HŽ Putnički prijevoz. In 2015, sixteen trains were delivered, including ten regional and six city-suburban trains. The most significant exports were achieved in Germany, amounting to HRK 142.2 million, the United Arab Emirates HRK 140 million, Sweden HRK 114 million, Finland HRK 78.8 million, Norway HRK 54.9 million, Bosnia and Herzegovina HRK 52 million, and the Netherlands HRK 48 million.
A significant increase in revenues from the sale of products and services in exports, compared to the previous year, was achieved in Germany, where exports increased by HRK 60.5 million compared to the same period in 2014, primarily consisting of products from Končar – Distribution and Special Transformers and Končar – Metal Constructions. A significant increase in exports compared to the previous year occurred in the United Arab Emirates market (an increase of HRK 59 million), resulting from higher exports from Končar – Distribution and Special Transformers and Končar – Switchgear. Exports to the Swedish market increased by HRK 36 million (Končar – Distribution and Special Transformers), and to the Latvian market by HRK 34.8 million compared to the achievement in 2014 (Končar – Generators and Motors and Končar – Distribution and Special Transformers).
In 2015, the companies of the Končar Group contracted new jobs amounting to HRK 3,012.6 million, of which HRK 1,548.4 million relates to contracts in the foreign market (51 percent of total consolidated contracted jobs). The contracted jobs (open obligations) at the end of 2015 amount to HRK 3,681 million.
The total consolidated assets and sources of funds as of December 31, 2015, amount to HRK 3,683.3 million, which is a decrease of HRK 235.2 million or 6 percent compared to December 31, 2014.
In the structure of sources of funds, registered capital, reserves, retained earnings, current year profit, and capital belonging to the non-controlling interest amount to HRK 2,352.1 million, which is HRK 67.1 million higher compared to the state on December 31, 2014, and constitutes 64 percent of total sources. Long-term sources of funds (capital, long-term reserves, and long-term obligations) exceed long-term assets and average inventory levels by HRK 751.2 million, indicating a good maturity structure of sources of funds. Current assets exceed current liabilities by 2.9 times, indicating good liquidity of the system. The structure of the consolidated balance sheet indicates good financial stability of the Končar Group.
