ZAGREB, 16 Dec (Hina) - The Končar Group, specializing in the production of electrical equipment and installations, is set to reach a record high revenue from sales in 2021, of HRK 3.5 billion (€466 million), and it plans to raise those revenues to HRK 3.78 billion (€504m) in 2022, according to the group's business plan.
"KONČAR Group is expected to end the business year 2021 with the historically highest revenue from sales in the amount exceeding HRK 3.5 billion. In 2022, the revenue from sale of products and services is expected to be HRK 3.78 billion. A further 5.4 percent growth in export revenue is projected, with export accounting for 60 percent of the planned revenue from sales," reads a press release issued by this leading Croatian electrical company on the Zagreb Stock Exchange (ZSE) on Thursday.
In accordance with the adopted Integrated Strategy of KONČAR Group, investments planned for 2022 amount to HRK 209 million, reads the press release.
The planned CAPEX (Capital expenditures) "pertains primarily to investments in plant and equipment, increased production capacities in several KONČAR Group companies, continued digitalization, and further development of environmentally friendly products. The majority of the planned investments will be financed using the Group’s own resources."
(€1 = HRK 7.5)
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