April 19 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI-R-A] said on Thursday the consolidated net profit of the Koncar Group increased 19.1% on the year to 128.7 million kuna ($19.5 million/17.3 million euro) in 2018.
The group's consolidated revenues fell 3% to 2.9 billion kuna in 2018, while total sales revenue fell 4.3% to 2.7 billion kuna, Koncar said in its 2018 financial statement.
Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to 142.2 million kuna in 2018, compared to 124.5 million kuna a year earlier.
Out of 16 companies within the Koncar Group, 15 turned profit, while one suffered a loss of 1.5 million kuna.
Koncar's revenues from the sale of products on the domestic market dropped 3% on the year to 1.2 billion kuna in 2018, while sales on foreign markets reached 1.5 billion kuna in 2018, compared to 1.6 billion kuna a year earlier.
Koncar's most important foreign market in 2018 was Germany, where it exported goods worth 254 million kuna or 14% of its total foreign market sales. Sweden followed with 189 million kuna, while exports to Bulgaria totalled 128 million kuna and those to Guinea - 115 million kuna.
The Koncar Group is made up of Koncar Elektroindustrija as the group leader and 15 other units.
The group had 3,508 employees in 2018, compared to 3,646 in 2017.
(1 euro = 7.43941 kuna)