Croatia's Koncar D&ST net profit surges 273% y/y in Q1

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 219.3% to 26.7 million euro, the company said in a filing to the Zagreb Stock Exchange.

Operating revenue rose 36.1% to 97.3 million euro, while operating costs grew 12% to 71.9 million euro.

The Koncar D&ST group consists of Croatian developer and producer of power transformers of up to 160 MVA and 170 kV, Koncar D&ST d.d., Polish manufacturer and provider of power transformers of up 63 MVA and 145kV, Power Engineering Transformatory Sp. z o.o. (PET), and Croatian transformer tanks producer Ferokotao.

The group had 1,160 employees at the end of March in Croatia and in Poland.

Koncar D&ST is a unit of Croatia’s electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI].

Koncar D&ST was the most traded company on the Zagreb bourse by 1218 local time on Thursday, followed by Koncar Elektroindustrija.

The preferred shares of Koncar D&ST traded 2.04% higher at 1,500 euro.

Its ordinary shares, which are part of the main equity index of the Zagreb bourse, gained 2.70% to 1,520 euro.

By the same time, blue-chip shares of Koncar Elektroindustrija soared 4.69% to 268 euro.

($ = 0.932 euro)