In 2019, the company recorded an increase in sales of 17.5%, increase in EBITDA of 4.7% and a decrease in net profit of 1.7%.
Končar D&ST published their preliminary 2019 results on the Zagreb Stock Exchange. According to the report, the company recorded an increase in sales of HRK 1.01bn, representing an increase of 17.5% YoY. Meanwhile, operating revenues observed an increase of 13.7%, amounting to HRK 1.07bn.
Operating expenses amounted to HRK 1.02bn, representing an increase of 14.4%. Such an increase could be attributed mostly to higher material costs by HRK 85.2m and changes in inventories of work in progress and finished goods by HRK 29.3m.
In 2019, EBITDA stood at HRK 70.54m showing an increase of 4.7%. Such a result puts the EBITDA margin at 6.9% (-0.9 p.p. YoY). Going further down the P&L, operating profit amounted to HRK 48.8m, up by 1.5% YoY.
The company’s net financial result stood at HRK -0.1m, compared to HRK 1.4m in 2018, mostly as a result of lower FX gains in 2019.
As a result of such a net financial result, net profit observed a 1.7% decrease, amounting to HRK 47.8m. Such a result puts the profit margin at 4.5% (-0.7 p.p. YoY).
