October 31 (SeeNews) - The consolidated net profit of Croatia's Koncar Group fell to 20.14 million kuna ($3.0 million/2.7 million euro) in the first nine months of 2019, from 71.55 million kuna in the like period a year earlier, its leading unit, electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI], said.
The group's consolidated operating income dropped 1.7% year-on-year to 1.93 billion kuna in the January-September period, while operating costs edged up 0.8% to 1.91 billion kuna, Koncar said in a filing with the Zagreb Stock Exchange on Wednesday.
The company's sales revenue rose to 1.86 billion kuna in the first nine months of the year, up 7.2% compared with the prior year period. Sales abroad contributed 62% of total sales revenue.
Germany led the list of Koncar's foreign market sales, followed by Sweden.
Koncar Group signed new contracts worth 2.1 billion kuna in the nine months through September 2019.
The group employed 3,391 workers at the end of the review period.
The Koncar Group is made up of Koncar Elektroindustrija as group leader and 14 other units.
Koncar Elektroindustrija's shares closed unchanged at 645 kuna on Wednesday.
(1 euro = 7.45565 kuna)