KONČAR Group’s order backlog reaches nearly €2 B
At the end of September, KONČAR achieved a net profit of €116.6 million, an increase of 141.4% compared to the first three quarters of 2023.
Gordan Kolak, KONČAR Group CEO (Image credit: KONČAR Group)
Croatia, Zagreb: At the end of September, KONČAR achieved a net profit of €116.6 million, an increase of 141.4% compared to the first three quarters of 2023. Sales revenue from products and services grew by €133.5 million, totaling €734.6 million. Exports account for almost 73%, with KONČAR’s most significant successes in the EU market. Exports to EU countries reached €398.2 million. Newly signed contracts reached €1.28 billion, with almost €1 billion dedicated to export markets.
KONČAR’s backlog grew, reaching €1.96 billion. Contracts for 2025 and beyond amount to €1.52 billion. EBITDA increased by €75.5 million, totaling €139.5 million, with an EBITDA margin of 19%. Within the Group, KONČAR – Distribution and Special Transformers demonstrated competitiveness, achieving a 43% revenue increase compared to last year and a 2.8-fold increase in net profit.
“Alongside the continuing growth trend, we are particularly proud of our strategic initiatives, which have furthered KONČAR’s positioning among Europe’s most influential green energy transition manufacturers during the third quarter. With our new business strategy, People, Technology, Investments – KONČAR 2030, we are intensifying the transformation of the KONČAR Group, aiming to reinforce our global presence with a modernized and digitalized portfolio of products, solutions, and services for the energy, transportation, and industrial sectors,” said Mr. Gordan Kolak, CEO of KONČAR.
Following the growth in demand for transformers, KONČAR finalized negotiations in the third quarter and signed a joint investment agreement with Siemens Energy AG. The goal is to establish a factory and a company for manufacturing transformer tanks, in which KONČAR will hold a 60% majority stake. In the transmission and distribution segment, a €13.7 million contract was signed for the reconstruction of high-voltage substations for EAC Cyprus, and Dalekovod was the most competitive bidder for a 420 kV transmission line project in Norway worth €63 million.
Source: KONČAR Group
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