The Koncar Group, specializing in the production of electrical equipment and installations, is set to reach a record high revenue from sales in 2021, totalling 3.5 billion kuna (€466 million), and has plans to increase these revenues to 3.78 billion kuna (€504m) in 2022, according to the group's business plan carried by state agency Hina.

“Koncar Group is expected to end the business year 2021 with historically highest revenue from sales in the amount exceeding 3.5 billion kuna. In 2022, the revenue from sale of products and services is expected to be 3.78 billion kuna. A further 5.4 percent growth in export revenue is projected, with export accounting for 60 percent of the planned revenue from sales,” state agency Hina said, citing company press release.

Hina did not report about the company’s profits.

In 2020, the company plans new investments worth 209 million kuna. The planned capital expenditures “pertain primarily to investments in plant and equipment, increased production capacities in several Koncar Group companies, continued digitization, and further development of environmentally friendly products. The majority of the planned investments will be financed using the Group’s own resources,” the company said, without clarifying.

(€1 = 7.52 kuna)