Koncar Group generated a net profit of HRK 277.3 million in the first nine months of 2022, an increase of 80.7% over the same period in 2021, the transport and energy company said in a financial statement on Thursday.

Despite unprecedented global challenges and uncertainties on global markets, Koncar Group ended the third quarter of 2022 with very good business results, which are reflected in growing revenues, a considerable increase in the number of new orders, greater net profit and EBITDA (earnings before interest, taxes, depreciation, and amortisation), the statement said.

EBITDA reached HRK 373.7 million, up by HRK 144.8 million from the first nine months of 2021, while the EBITDA margin increased from 9.5% to 12.3%. Normalised EBITDA stood at HRK 219.5 million, up by HRK 26.2 million, and the normalised EBITDA margin was 7.2%.

With the integration of Dalekovod, EBITDA increased by HRK 24.6 million to HRK 398.3 million and sales revenues rose by HRK 524.3 million to HRK 3.56 billion.

Revenues from the sale of products and services totalled HRK 3.04 billion, increasing by 26.4% from the corresponding period of the record-breaking year 2021. As much as 61.1% of the revenue was generated on foreign markets.

(€1 = HRK 7.5)