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Croatia's Dalekovod swings to net profit in H1

Croatia's Dalekovod swings to net profit in H1 Ministry of Economy/All rights reserved.

ZAGREB (Croatia), July 30 (SeeNews) - Croatian power transmission equipment manufacturer Dalekovod [ZSE:DLKV-R-A] said on Tuesday it turned to a net profit of 36.7 million kuna ($5.5 million/5.0 million euro) in the first half of 2019, from a loss of 4 million kuna a year earlier.

The company's earnings before interest and taxes (EBIT) rose 3.2 times on the year in the review period, reaching 4.5 million kuna, Dalekovod said in its unaudited first-half financial report filed with the Zagreb Stock Exchange (ZSE). 

The company's operating revenue fell 10% to 416 million kuna, whereas total revenue decreased to 461.3 million kuna, from 495.9 million kuna in the first half of last year.

Dalekovod Group turned to a consolidated net profit of 30 million kuna in the first half of 2019, from a loss of 8.9 million kuna a year earlier. 

The group's consolidated total revenue fell 15.8% on the year to 601.7 million kuna in the first half of 2019, while total expenses edged down 0.9% to 609.3 million kuna. 

Dalekovod Group's consolidated operating income decreased by 5.3% to 556.8 million kuna, while its EBITDA fell by 12.9 million kuna.

(1 euro = 7.38314 kuna)

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