ZAGREB, 23 February 2021 - Ericsson Nikola Tesla netted HRK 94.5 million in profit in 2020, down 7.8% on the year, while sales revenue grew 13.7% to HRK 2.02 billion, according to the company's consolidated financial statement released via the Zagreb Stock Exchange on Tuesday.
Profit before tax was down 1.5% to HRK 106.6 million, while operating profit went up 1.8% to HRK 104.4 million. Gross margin decreased by 8.6%.
Domestic sales accounted for 45.8% of total revenue, services for Ericsson for 42.6% and exports for 11.6%. Domestic sales totalled HRK 926.7 million, up by 86.5% on 2019, while exports, excluding the Ericsson market, dropped by 7.9% to HRK 234.4 million. On the Ericsson market, sales revenue dropped by 16.1% to HRK 861.9 million.
