Koncar concern expects 15% sales rise in 2015

The Koncar concern will have consolidated sales revenues this year in the amount of HRK 3 billion, which is 15% higher than in 2014, and the group's consolidated pre-tax profit could amount to HRK 148.6 million, Koncar CEO Darinko Bago said at a news conference on Monday.

Domestic sales are estimated at HRK 1.7 billion, 29% up from last year's sales. Sales on foreign markets are expected to amount to HRK 1.3 billion, an increase of 1% from last year. Exports account for 43% of all sales revenues, said Bago.

The group's investments in 2015 total 124 million kuna (60% of which are the group's own funds), with 40% of that amount having been invested in development.

Speaking of the more important projects carried out this year, Bago cited low-floor electrical trains for the HZ Passenger Transport company, the delivery of new power generators and the upgrading of existing ones in Finland, Norway, Sweden and other countries, the delivery of distribution and energy transformers to 51 countries and the upgrading of transformer stations in Albania, Bosnia and Herzegovina and Croatia.

Contracts for new jobs at the end of 2015 total HRK 3.6 billion, 24% more than at the beginning of the year, said Bago.

He added that sales in 2016 were expected to increase 2-3% from this year to HRK 3.1 billion, domestic sales were planned at HRK 1.6 billion and exports were expected to total HRK 1.5 billion. Exports are projected to increase 15% from this year, he said.

Last update: Mon, 21/12/2015 - 23:30


More from Business

Croatian inventors win 11 medals at London show

Six Croatian inventors and entrepreneurs won 11 medals at the British Invention Show (BIS), with Tomislav Bronzin of...

AT&T tops Bayer: the five biggest mega deals of 2016

With AT&T's offer worth over 100 billion dollars for media giant Time Warner, the US telecom firm has surpassed...

AT&T to buy Time Warner in 85.4-billion-dollar deal

Telecommunications giant AT&T on Saturday said it would buy entertainment group Time Warner in a deal worth 85.4...

AT&T agrees to buy Time Warner, reports say

Telecommunications giant AT&T has agreed to buy media conglomerate Time Warner in a deal worth 80 billion...

Bombardier announces 7,500 job cuts as part of restructuring

Canadian aircraft and train manufacturer Bombardier will cut a further 7,500 jobs as part of its ongoing...