February 25 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI-R-A] said the consolidated net profit of Koncar Group rose to 115.2 million kuna ($18.6 million/15.2 million euro) in 2020, compared with 52 million kuna booked a year earlier.
The group's operating revenue grew 5.5% year-on-year to 3.1 billion kuna in 2020, with sales revenue up 5.8% to nearly 3 billion kuna, Koncar said in filing to the Zagreb Stock Exchange (ZSE) on Wednesday.
The group's operating expenses reached 3 billion kuna in 2020, up 4% on the year.
Of the 15 companies within the Koncar Group, three suffered losses in the total amount of 37.75 million kuna last year.
Koncar's revenues from the sale of products and services on the domestic market amounted to 1.1 billion kuna in 2020, down 3.1% year-on-year, while sales on foreign markets rose 12.1% to 1.8 billion kuna.
Shares of Koncar Elektroindustrija, the leading company within Koncar Group, traded 1.49% lower at 660 kuna on the ZSE by 1422 CET on Thursday.
(1 euro = 7.58114 kuna)