KONCAR - Elektroindustrija (KOEI) Q1 2025 earnings summary

Executive summary

• Operating income surged to EUR 80.2 million in Q1 2025 from EUR 16.7 million year-over-year, mainly due to mergers with four subsidiaries in 2024.

• Net profit reached EUR 33.4 million, up from EUR 14.1 million in Q1 2024.

• Average employee count rose to 575 from 80, reflecting expanded operations post-merger.

Financial highlights

• Sales revenue increased to EUR 50.6 million from EUR 3.1 million year-over-year.

• Dividend income rose to EUR 28.8 million, up 113.4% year-over-year.

• EBITDA was EUR 34.2 million, compared to EUR 13.7 million in Q1 2024.

• Earnings per share rose to EUR 13.13 from EUR 5.52 year-over-year.

• Cash and cash equivalents increased to EUR 44.6 million as of March 31, 2025.

Outlook and guidance

• No significant seasonal or cyclical effects expected.

• Carried-forward tax losses from mergers expected to minimize 2025 tax liability.