KONCAR - Elektroindustrija (KOEI) Q3 2024 earnings summary

Executive summary

• Operating income for Q1–Q3 2024 reached EUR 47.7 million, up from EUR 19.8 million year-over-year, driven by the merger of subsidiaries and expanded business segments.

• Sales revenue rose to EUR 34.1 million, with significant contributions from Power Generation, Power Transmission and Distribution, and Urban Mobility and Infrastructure.

• Dividend income increased 54.1% year-over-year to EUR 13.4 million.

• The average headcount rose sharply post-merger, from 81 in H1 2024 to 586 in Q3 2024.

Financial highlights

• Net profit for Q1–Q3 2024 was EUR 11.9 million, compared to EUR 12.7 million in the same period last year.

• EBITDA increased to EUR 13.9 million from EUR 12.4 million year-over-year; normalized EBITDA rose 45% to EUR 13.7 million.

• Total assets as of 30 September 2024 were EUR 316 million, up 24.5% from year-end 2023.

• Equity increased to EUR 251.1 million, reflecting profit and merger effects.

• Earnings per share for the period were EUR 4.68.

Outlook and guidance

• The company anticipates further integration of newly merged subsidiaries by year-end 2024, with additional mergers planned.