Končar plans to realize a revenue of EUR 960m in 2024, with the value of backlog at the end of 2024 expected at EUR 1.6bn. Order intake for 2024 is forecasted at EUR 1.2bn.

At the Supervisory Board session held yesterday, 14 December 2023, the consolidated Business Plan of Končar Group for 2024, at the proposal of the Company’s Management Board. The Company notes that the plan for the next year was prepared with optimism and with expectations of solid performance. Goals for the Group remain the same – growing the income side and expanding export, further investments in R&D and equipment, and crucially, investment in people as the imperative of all set plans.

According to the Company, on the basis of good order intake at the end of 2023, Končar Group plans to realize over EUR 960m in income in 2024. The value of the backlog at the end of 2024 is expected to reach EUR 1.6bn. Order intake for 2024 is forecast in the amount above EUR 1.2bn. Exports, primarily to European Union countries, continue to dominate in the total income. The majority of the planned income realized in the foreign markets is mainly from Sweden, Germany, and Austria.

Investments in decarbonization projects, renewable energy sources, and e-mobility, particularly across the EU member states, have been driving up the demand for power equipment. Rail solutions also recorded a greater demand for products. KONČAR’s established position as a reliable partner across all expanding segments. New order intake is planned in the total amount of EUR 1.2 bn, with backlog at the end of the planning period up by EUR 202 million, totaling EUR 1.6 bn at 2024 year-end.

In addition to the growing income line, the Group emphasizes that increasing the share of exports and further strengthening profitability remain one of the priorities in the upcoming year, along with the continuation of investment and manufacturing capacities as a driver for the realization of sales plans.

The 2023 investment plan has not been fully realized due to projects whose realization was slowed down, their implementation will continue in 2024. The 2024 Plan projects CAPEX amounting to EUR 62.9 million, with an investment focus on buildings, new equipment, and machinery.