Končar’s revenues and expenses down by 4 percent, gross profit of 45.6 million kuna

The Končar Group recorded a decrease in total consolidated revenues and expenses of four percent in the first half of this year, while gross profit amounted to 45.6 million kuna, remaining at the same level as last year, the company announced on Friday.

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The companies of the Končar group achieved total consolidated revenues of 1.32 billion kuna in the first half of the year, while total consolidated expenses amounted to 1.28 billion kuna. Revenues and expenses are four percent lower than those achieved in the first half of last year, according to the Končar statement.

Gross profit amounted to 45.6 million kuna, which is at the level of last year’s achievement.

The group’s net profit in the first six months of this year decreased by 4.6 percent compared to the same period last year, amounting to 35.9 million kuna, of which 9.4 million kuna belongs to non-controlling interest (minority interest), and 26.5 million kuna to the shareholders of the parent company, according to the consolidated financial report of the Končar group, which includes the parent company and 15 subsidiaries in which the parent has a dominant influence, while it has a minority management influence in one company.

Končar’s statement provides data that the group’s operating revenues in the first half of this year amounted to 1.29 billion kuna, while operating expenses were 1.25 billion kuna. Profit from operating activities amounts to 44.1 million kuna, which is an increase of 39.3 percent compared to last year’s achievement, Končar emphasizes.

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Revenues from the sale of products and services, which account for 93.2 percent of total revenues, amounted to 1.2 billion kuna and are three percent lower compared to the first half of last year.

At the same time, revenues from the sale of products and services in the foreign market amounted to 701.5 million kuna. The share of exports in total sales revenues is 58 percent.

The most significant exports were achieved in the European Union market (64 percent), specifically to Sweden, Germany, Austria, the Czech Republic, and Italy. Among the 90 countries to which the group’s products are exported, significant exports were achieved in Kenya, El Salvador, Bosnia and Herzegovina, Saudi Arabia, and Canada, the statement notes.

According to the data from the statement, in the first half of this year, the companies of the Končar group contracted jobs worth 1.55 billion kuna. Of this, just over a third (34.8 percent) or an amount of 540.2 million kuna relates to jobs contracted for the domestic market, while over one billion kuna (65.2 percent of total contracted jobs) relates to exports.

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Compared to the same period last year, 39 percent or 435 million kuna more new jobs were contracted.

The value of contracted jobs at the end of June amounts to 3.38 billion kuna, which is 11 percent higher compared to the state at the beginning of the year, Končar emphasizes.