December 16 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI] said on Thursday it expects an all-time high consolidated sales of more than 3.5 billion kuna ($526 million/466 million euro) this year, and their further growth to 3.78 billion kuna next year.
“A further 5.4% rise in export revenue is projected, with exports accounting for 60% of the planned sales revenue,” the company said in its 2022 group business plan filed to the Zagreb bourse.
The demanding market of the European Union is expected to contribute the majority of 2022 income, with a planned share of 1.5 billion kuna. On its other markets Koncar expects the greatest increase in sales in neighbouring countries and on Asian and African markets.
In 2022, the value of newly contracted transactions is expected to amount to 4.4 billion kuna. The value of contracted transactions (backlog) at the end of 2022 is expected to reach 5.6 billion kuna, up from some 5 billion kuna at the end of 2021.
The group's investments planned for 2022 amount to 209 million kuna, with the majority of them to be financed through the group’s own resources. The planned CAPEX includes primarily investments in plant and equipment, increased production capacities in several units, continued digitalization, and further development of environmentally friendly products.
Koncar's shares traded at 865 kuna on Thursday on the Zagreb bourse, up 1.76%.
(1 euro=7.515 Croatian kuna)