Koncar Distributivni i Specijalni Transformatori D&ST (Koncar D&ST), the Croatian power transformer manufacturer, reported a 119% year-on-year increase in its net profit for 2024, reaching 118 million euro ($123 million), up from 54 million euro in 2023.

The company's EBITDA more than doubled to 146.3 million euro, compared to 68.9 million euro a year earlier, with the EBITDA margin rising to 31.3% from 20.1% in 2023.

Operating revenue grew 37.9% to 475 million euro, while operating costs increased 19.5% to 334.3 million euro, according to a filing with the Zagreb Stock Exchange.

A key milestone in 2024 was Koncar D&ST's 19 million euro contract signed in October to supply medium-power transformers to a German distribution system operator.

The Koncar D&ST group includes Koncar D&ST d.d., a Croatian manufacturer of power transformers up to 160 MVA and 170 kV, and its Polish subsidiary Power Engineering Transformatory Sp. z o.o. (PET), which produces transformers up to 63 MVA and 145 kV. The group employed 1,212 people as of December 2024.

Despite these strong results, Koncar D&ST's stock declined on Monday, with ordinary shares down 4.20% on the Zagreb Stock Exchange.

Source: seenews.com