Tuesday, 1 November 2022

Koncar's Revenue 26.4% Higher Than 2021's in Third Quarter of 2022

November the 1st, 2022 - Many Croatian companies have finally managed to get their revenues back up to reasonable levels in the post-pandemic period, only to have inflationary pressures and spiralling costs cause yet another issue. Koncar, however, has recorded a firm increase when compared to 2021.

As Mladen Miletic/Poslovni Dnevnik writes, in the third quarter of 2022, Koncar, the largest Croatian exporter and regional leader in the country's power industry, achieved an impressive increase in revenue from the sale of its products and services by 635.9 million kuna, which represents a 26.4% increase in comparison to the results recorded back during same period in what was for this company, a record-breaking 2021.

As much as 61.1% of Koncar's overall income was generated on foreign markets, and at the same time, the growth of newly contracted business and orders was also recorded, which inspires optimism for the future. Along with excellent results in the commercial part of the business, good financial results were also achieved, whereby the consolidated net profit of Koncar's companies amounted to 277.3 million kuna which is equal to 123.9 million kuna or an 80.7 percent increase compared to the same period last year.

With the inclusion of Dalekovod, sales revenues increased by 524.3 million kuna and amounted to 3.562 billion kuna in total. Here on the domestic market, Koncar's companies achieved revenues in the amount of 1.184 billion kuna, which is 268.1 million kuna or 29.3% more than back during the same period last year.

When it comes to exports successfully realised by Koncar, the most significant results were achieved on the demanding German market (332.7 million kuna), which is 40 million kuna more than last year. Sweden (238.8 million) and Austria (95.7 million) follow. Exports to the European Union (EU/single) market as a whole also increased and now amount to 1.343 billion kuna, representing 72.1% of this company's total exports.

For more on Croatian companies, ideas and entrepreneurs, make sure to check out our dedicated business section.

Thursday, 22 September 2022

Croatian Koncar Tram Immediately Sold to Latvia's Liepajas Tramvajs

September the 22nd, 2022 - A new Croatian Koncar tram made its way from the well-known Berlin-based InnoTrans Fair directly to Latvia after being sold to the Latvian company Liepajas Tramvajs.

As Poslovni Dnevnik/Darko Bicak writes, the Republic of Croatia is one of only five countries in Europe to have independently developed a low-floor tram system, and it was precisely this model of public transport, the TMK 2300 LT, that was presented as the flagship of the Koncar Group recently at this year's edition of the world's largest transport technology and industry fair - InnoTrans in the German capital of Berlin.

The tram won't return from Germany to the City of Zagreb, but will instead be delivered to a customer in Latvia, Liepajas Tramvajs. To be more precise, 13 out of a total of 14 low-floor Croatian Koncar trams will be delivered by Koncar to the City of Liepaja according to the signed contracts.

As explained by Gordan Kolak, the president of the Koncar Management Board, being part of the world's largest transport industry and technology fair is an additional confirmation of their efforts to create globally recognised high quality products and thus strengthen Croatian industry in this segment.

"We're proud to be able to present our low-floor electric tram, intended for an important European customer, on the InnoTrans stage. We've already confirmed in our long-term high-quality and successful cooperation with Zagreb's ZET that we have the necessary vision, expertise and tools to implement the green and sustainable mobility initiative. Therefore, we expect the further development of the electrification of public transport and opportunities for new cooperation on the European market. We believe that these opportunities and our quality products will be recognised by new potential customers and partners at this year's InnoTrans,'' said Kolak, whose company is struggling on the European market with the competition of tram manufacturers consisting of giants such as Siemens, Alstom, Bombardier and Skoda.

In addition to Croatian Koncar trams, this well-known company has had a lot to say in the segment of city and suburban trains, as well as the modernisation of old diesel-electric locomotives. Koncar's trains are already running along the Croatian Railways system, and they also have plans for technological advances in the future.

''I'm talking about the battery train project, for which HZ Putnicki promet recently announced a tender. As Josip Ninic of Konar explained in Berlin, the battery train project started last year, and the work will continue regardless of the results of HZ's tender.

"Of course, we're being competitive in the tender for the battery train prototype, but even if we don't get the job, we'll finish the project because we have the knowledge and technology for it. I expect that we'll be able to present this new product of ours to the public at InnoTrans in 2024," Ninic said.

He explained that it is a train that will be used for non-electrified railways, and the battery is charged while the train is travelling along the electrified part of the railway or at certain points along the way with fixed chargers. It is also expected that the battery could have a capacity for about 100 kilometres, which would be enough for suburban traffic in cities that don't have electric-energy infrastructure on their railway lines.

In the same way, at least in theory, Zagreb and Split could also be connected in this way, where the railway along that route is mostly not electrified, so that the timetable would provide for shorter stops, 10-15 minutes, at transit stations where the battery would be recharged.

This year's InnoTrans has otherwise been held on 200,000 square metres, it hosted 145,000 visitors and 2,830 exhibitors from more than 60 countries. One of the most interesting premiere products was certainly the first commercial hydrogen train produced by Stadler.

Hydrogen and e-mobility are also the focus of almost all other exhibitors in Berlin. In addition to Croatian Koncar trams, several other Croatian players came to Berlin to present their technology, such as Ericsson Nikola Tesla, Djuro Djakovic, Altpro, and Gredelj, which now operates as part of the Slovakian Tatravagonka Poprad Group.

For more, make sure to check out Made in Croatia.

Monday, 11 July 2022

Croatian Companies Infobip, Tehnix and Koncar Get Special Recognition

July the 11th, 2022 - The Croatian companies Infobip, Koncar and Tehnix received special recognition at the recently held 17th edition of the Croatian exporters' convention.

As Mladen Miletic/Poslovni Dnevnik writes, at the recently held 17th convention of Croatian exporters, in addition to awards in 19 different categories, awards were also given for achievements and contributions in the digital transformation and green transition of Croatian companies. This special award was given on the occasion of the fifteenth anniversary of the "Golden Key/Zlatni kljuc" award, and it was won by three companies: INFOBIP d.o.o., KONCAR - Elektricna vozila d.d. and TEHNIX d.o.o.

The Association of Croatian Exporters awarded awards to Croatian companies for their advanced and innovative new investments and technologies that contribute to higher production efficiency, lower electricity consumption, all of which should result in a reduction of CO2 emissions in the future.

It was pointed out from various associations in this field that they wanted to further affirm and improve production that reduces the CO2 footprint. Tehnix was founded back in 1992 as a small family business with only a few employees. During its 30 years of existence, it has become the leading eco industry in Europe and the world. Tehnix has representative offices throughout Europe, and in addition to the parent company in Donji Kraljevac, Tehnix has a factory in neighbouring Serbia.

The company is organised, equipped and applies ISO 9001 and ISO 14001 business systems, and more than 500 full-time employees work there with their subcontractors, they have an impressive 60 of their own patents and innovations, and more than 350 of their own products have been placed on the Croatian and global markets. All of the above rightly places Tehnix among the most successful Croatian companies.

"Since its foundation in the early 1990s, Tehnix has grown from a small family business into a leading eco industry on the world map. The business goal of Tehnix is ​​to develop and produce the best technologies that achieve sustainable development and a circular economy. We've developed and manufacture more than 300 machines and equipment for the environment, owing to which we've received a hundred international recognitions and awards. We've also developed the best MO-BO-TO technology for waste recycling, and by applying our technology, municipal waste becomes an economic and energy resource.

With the proper industrial recycling of mixed municipal waste, we obtain 8 new types of raw materials, we also produce eco compost and RDF fuel. MO-BO-TO is the technology of the future that achieves a circular economy and continues sustainable development. We've developed and manufacture special plants for the ecological purification of sanitary municipal water," stated the company's president, Djuro Horvat.

When it comes to the other winning Croatian companies, the main activity of the company Koncar – Elektricna vozila d.d. is the development, production, modernisation and maintenance of rail vehicles and equipment for rail vehicles.

"The key strength of Koncar lies in the fact that our products are the result of many years of continuous development within the companies of the wider Koncar Group's umbrella, which gives us flexibility in adapting to specific customer requirements. Our products comply with the requirements of applicable standards in the field of rail vehicles and their equipment. The lines of our DMV and EMV trains are also certified according to TSI standards, which enables their formal application in different EU member states.

The continuous development of new solutions and products is what we're primarily determined to focus on, and through the application of our own research and development potential, as well as partnership and synergy, we successfully come up with new products and services based on our knowledge. We offer our customers a complete product according to their specific requirements and needs. Following the guidelines on green and digital mass passenger transport, we're now working on the development and application of new solutions for rail vehicles with the use of standby energy that will replace vehicles powered by diesel fuel in the future,'' they stated from Koncar.

The remarkable Vodnjan-based company Infobip, as a global IT and telecommunications company that provides mobile communication services in the cloud for business users, is one of the two Croatian unicorns representing the concept of most absolute success in the demanding business world.

Their ever-increasing list of clients includes social media platforms, internet companies, mobile messaging applications (apps), banks, marketing agencies, corporations, and the list just goes on and on.

Infobip's campus

In addition to its huge contribution and success in implementing the digital transformation, Infobip proved itself once again this year by opening its new campus and the largest innovation centre in the world, Alpha Centauri, which spans a huge area of ​​20,000 square metres here in Zagreb.

"The campus follows global trends, meaning that great emphasis has been placed on green details and sustainability. The campus building itself has an A+ energy class, and the surrounding underground water is used for cooling and heating the working rooms, which results in lower electricity consumption,'' they stated from Infobip.

For more on Croatian companies, make sure to check out Made in Croatia.

Saturday, 25 June 2022

Croatian Company Koncar Signs 65 Million Euro Contract in Iraq

June the 25th, 2022 - The Croatian company Koncar has signed a contract in Baghdad with the Iraqi authorities worth a massive 65 million euros in total!

As Poslovni Dnevnik writes, the Croatian company Koncar, which is a well-known regional leader in the power industry, signed a 65 million euro contract with the Iraqi Ministry of Electricity (MOE) in Baghdad recently, the aim of which is to revitalise the Haditha hydropower plant.

This Iraqi plant, with an installed capacity of 6 × 128 MVA, represents one of the largest references in history for the Croatian company Koncar, given that the hydroelectric power plant was actually built by Koncar back during the first half of the 1980s.

Several companies within the wider umbrella of the Koncar Group, led by Koncar - Inzenjering/Engineering (KET), will participate in this large project. As part of the contract, the partial revitalisation of production units, the replacement of part of medium and high voltage equipment, complete power plant management systems, the excitation and electrical protection systems, as well as the renovation of all mechanical subsystems and hydromechanical equipment of the power plant will be carried out.

After a decade, negotiations with the customer continued, and after a little more than eighteen months of new talks in a completely new political environment, the Koncar Group achieved another historic step on the demanding global market, by signing a contract to revitalise this extremely significant Iraqi hydropower plant.

Moreover, in the last ten years, the Croatian company Koncar has already realised several smaller contracts, mainly involving the supply of equipment and spare parts for this power plant on the Euphrates River, as well as to other plants, such as HPP Hemren. This agreement achieved an important return to the Iraqi market, which once again confirmed the role of the Koncar Group as one of the most important domestic exporters to the global market.

"This is the final result of many years of negotiations, but also of already proven global references in this segment, which confirm the rich experience and unquestionable quality and reliability of our high-tech solutions. By signing this agreement, the preconditions for contracting new business in Iraq have been met, both at the Haditha HPP itself and at the rest of the Iraqi market,'' said Gordan Kolak, President of the Management Board of Koncar.

Koncar - Inzenjering/Engineering (KET) will implement this large and extremely important project in a consortium with a local partner, the company Al Rashak, and other companies within the Koncar Group will also be involved in the implementation. The fact that the Croatian company Koncar is very much at home when it comes to such projects is best confirmed by almost 400 hydropower plants across more than 50 countries around the world, which Koncar has fully or partially built and revitalised over more than seven decades.

For more, make sure to check out our dedicated business section.

Thursday, 30 September 2021

Croatian Company Koncar Strengthening Position in Sweden

September the 30th, 2021 - The Croatian company Koncar is busy strengthening its position on the Swedish market after having signed its first contract with a Swedish system operator, worth a massive 63 million kuna in total.

As Poslovni Dnevnik/Lucija Spiljak writes, the month, the Croatian company Koncar (Koncar Energy and Transport Engineering (KET) signed its first contract with the Swedish distribution system operator Vattenfall Eldistribution. This 63 million kuna strong contract includes a very complex reconstruction of the 130 kV plant at the transformer station (TS) 220/130/70/20 kV Finnslatten in Västerås, which is located not far from the Swedish capital of Stockholm, and was signed by Ivan Tomsic of the Croatian company Koncar.

The contract is the result of three years of systematic performance and sales activities on the Swedish market, and Koncar states that it was obtained in strong competition from local reputable companies.

“Based on its own extremely high standards, the customer has carried out a pre-qualification procedure for a project that is of strategic importance for supplying the industrial zone and priority customers. Special emphasis was placed on safety at work, compliance of business processes with quality monitoring and environmental protection systems and detailed safety checks of all members of the project team,'' they say from the company.

The reconstruction project of TS 220/130/70/20 kV Finnslatten, which is expected to be completed in the middle of 2023, is a complex project involving the replacement of the external, air-insulated 70 kV plant with a new 130 kV plant. The reconstruction process includes the preparation of all of the project documentation, the delivery and replacement of high-voltage primary equipment, secondary equipment, auxiliary systems, the construction of a new control building, as well as the necessary construction work, functional tests, and the commissioning and maintenance during the warranty period.

In addition to all of the above, which is extensive enough on its own, the subject of the contract also involves the procurement and laying of 145 kV cables and other equipment for the purpose of connecting priority customers on the route of 4 kilometers.

According to what is currently known about the deal, the Croatian company Koncar will, in addition to the local subcontractor for construction works, rely on its own experts for project management and design, and will also open a branch office that will serve the local implementation of this and all future projects in Sweden.

“The development of activities over on the Swedish market is supported by the recently received decision on the selection of the Croatian company Koncar as the best bidder for the project of reconstruction of secondary protection, control and SCADA systems for the Swedish transmission system operator Svenska Kraftnat. This project represents a very complex project involving the reconstruction of secondary systems of 400 and 220 kV transformer stations, which confirms the quality, professionalism and expertise of Koncar from sales to the implementation of complex projects on the wider EU market,'' the company concluded.

For more, make sure to check out our dedicated business section.

Thursday, 16 September 2021

Innovative Altpro Braking Equipment on Croatian-made Trains

September the 16th, 2021 - The Croatian company Altpro is engaged in the development and production of signalling and other safety equipment for trains and their accompanying infrastructure. Thanks to the recent signing of contracts between them and Koncar, their equipment is set to be placed on Croatian-made trains.

As Poslovni Dnevnik/Darko Bicak writes, Altpro has its headquarters in the City of Zagreb, and as they explained, both contracts they signed with Koncar regard the delivery of their equipment for the automatic train protection system which Koncar develops.

Both contracts relate to the supply of Altpro’s built-in vehicle safety systems (ATP) equipment. The first contract defines the delivery of 21 sets of installed equipment for 21 electric Croatian-made trains which Koncar has built for Croatian Railways (Hrvatske zeljeznice).

Each set of built-in equipment includes a central unit of the RAS8385 IS type, as well as all vehicle peripherals. The second contract defines the delivery of one set of installed equipment for the vehicle for track maintenance, which Koncar also builds.

''This set of built-in equipment includes the central unit of the newly developed ATP device type RAS90, as well as all vehicle peripherals. The new RAS90 is fully developed by Altpro and operates on the I60 principle as well as the PZB90 principle, which is based and developed on the experience gained through long-term use. The RAS90 complies with the latest European (EU) technical and safety requirements,'' they explained from the company headed by Zvonimir Viduka.

They added that the end customers in both cases are Croatian-made trains and Croatian railway companies that have recognised the quality, reliability and other advantages of Altpro's products in the field of railway safety. From this technology company, they emphasised that these two contracts will ensure the stability of Altpro's business in the future and strengthen their company's presence and references across the wider market.

Altpro, which currently employs 180 people, signed a 40m-euro contract with the railways in India late last year, and Viduka commented that the company has been trying to break into the Indian market for as long as fifteen years, and that it is worth around 2.5 billion euros in their industry.

He revealed the recipe for export success, saying that a Croatian product must be innovative and rare in order to be successfully exported. ''The detectors we've developed for monorail trains are unique in the world, they aren't produced by anyone else. So, you need to specialise in something closely and become the best at whatever that something is. This is our philosophy, to be the best in the world in the three niches we deal with,'' Viduka explained, adding that the coronavirus pandemic has brought them some huge problems, especially given the situation in India.

“Our engineers go over there to assemble the products, so they have to go into self-isolation when they return home. That's why we've digitised everything we can and adapted what we can to the maximum. However, at the end of last year, we managed to return to the results we enjoyed back in 2019, which a record year, and by the end of the year we exceeded it, which is an exceptional achievement,'' said the leader of Altpro, Zvonimir Viduka.

He also pointed out that Croatian Government economic and job preservation measures helped to overcome the most difficult period caused by the pandemic and lockdowns.

For more, make sure to check out Made in Croatia.

Tuesday, 3 August 2021

Croatian Koncar Group Earns 124% Higher Net Profit in First Half of 2021

August, the 3rd, 2021 - The Croatian Koncar Group (Grupa) has seen quite the increase in terms of net profit in the first six months of 2021, despite the previous and continued obstacles caused by the ongoing global coronavirus pandemic.

As Novac writes, in the first half of the year, the well known Croatian Koncar Group generated an impressive net profit of 74.3 million kuna, which is an increase of 41.2 million kuna or 124.3 percent when compared to the same period last year, according to the company's financial report published on Thursday.

"The Croatian Koncar Group ended the first half of 2021 with excellent results and all key business indicators show growth compared to the same period last year," said Gordan Kolak, President of the Management Board of Koncar Elektroindustrija, in a comment on the aforementioned financial report.

In that period, consolidated operating revenues grew by 18.3 percent to 1.6 billion kuna.

According to the data from the financial report, the companies operating under the wider umbrella of the large Croatian Koncar Group generated consolidated revenues from the sale of products and services in the amount of 1.6 billion kuna in the first half of the year, which is 251.9 million kuna or 18.8 percent more than in the same period last year.

Revenues here on the Croatian market amounted to 609.5 million kuna, which is 37.3 percent more, while revenues from sales to foreign markets increased by 9.6 percent, to 983.6 million kuna. Thus, the share of exports in total revenues from sales of products and services stands at 61.7 percent.

The most significant exports were realised on the demanding German market, amounting to 181.6 million kuna or 18.5 percent of total exports, followed by Sweden, to which goods and services were exported in the amount of 145.4 million kuna or 14.8 percent of total exports, and then Austria with 78.8 million kuna or 8 percent of total exports.

Koncar pointed out that in addition to sales, excellent financial results were achieved - EBITDA amounted to 129.7 million kuna and was higher by 46 million kuna when compared to the first half of last year, and their EBITDA margin amounted to 8.1 percent (in the same period last year it stood at 6.2 percent).

Operating profit amounted to 81.3 million kuna, while the Croatian Koncar Group's net consolidated result amounted to 74.3 million kuna, which is 41.2 million kuna more than in the same period last year.

In the first half of the year, the companies of the wider Koncar Group contracted new business (contracts) in the amount of 2.2 billion kuna, which is 691.8 million kuna or 46.5 percent more new business compared to last year. Of the total amount of contracted work, 956 million kuna (43.9 percent of the total contracted work) was contracted for the domestic market, and 1.12 billion kuna (56.1 percent of the total contracted work) referred to export contracts.

The backlog at the end of June amounted to 4.8 billion kuna, which is 13.8 percent more than at the beginning of the year.

The sales revenue plan is fully covered by the contracted works, and by the end of the year, the contracting of new works for realisation in 2022 and the following years is expected. At the end of the first half of the year, the backlog for realisation in the following years amounts to 3 billion kuna, it is stated.

The further growth of newly contracted business in the first half of the year, the balance of contracted business (backlog) and the growth of all business indicators are a reflection of a series of activities undertaken by the Croatian Koncar Group in this very complex economic situation, said Kolak.

He also pointed out that in an environment that still contains many uncertainties related to the coronavirus pandemic, they have shown resilience and focus on business partners, employees, production and commercial activities and are satisfied with what has been achieved in the first six months of this business year.

For more, follow our business section.

Monday, 12 July 2021

Croatian Koncar Succeeds in Asia with Job Contract in Japan

July the 12th, 2021 - The Croatian Koncar company, which is very well known on a global scale for its expertise and high quality work, has succeeded on the Asian market as Japanese jobs are contracted.

As Poslovni Dnevnik/Suzana Varosanec writes, the Croatian Koncar - Generators and Engines (GIM), owned by its parent company Koncar - Elektroindustrija, made a very significant step forward onto the challenging Asian market back in mid-May.

Following two entire years of continuous bidding and a tough negotiation process, the Croatian Koncar company earned a large contract over in Japan for the first time in its history. In this regard, the company, one of the components of the Koncar Group, pointed out that the delivery of the signed contract includes "the design, production and supervision during the installation of three generators for two different small hydropower plants."

The first phase of the project will be completed with the successful commissioning of a 5.2 MVA synchronous generator (240 min-1) at Shin Sakagami SHPP, they explained, while the second stage will be completed when the 5.2 MVA (240 min-1) synchronous generator is put into operation, followed by an asynchronous generator with a nominal power of 0.546 MW (366 min-1) at SHE Utsubo.

This is a contract that is a continuation of the Croatian Koncar company's highly successful cooperation with an Austrian turbine manufacturer, and over the next three years the two companies should justify the trust placed in them by Japanese consultants with their work. However, given the fact that this is the first time that Japanese investors have chosen a turbine manufacturer based in Europe, Koncar GIM will not only work hard to introduce itself, but is also expected to be a pioneer in opening the market to other European manufacturers.

This market is widely known for being very demanding, and the company got involved in a challenging project precisely due to typically demanding Japanese consultants and sky high expectations. The Austrian partner and the customer have recognised the competencies and capabilities of the Croatian Koncar, which are harder and harder to find, and decided they were by far the best choice for this kind of solution.

It also turns out that Japan is one of the markets in this segment that puts quality, technical solution and good communication in the first place, above all else. After the first contract on the Japanese market, Koncar could expect many other similar projects in the future, as well as more in various other areas of business. It's worth noting that the share of exports in total revenues from the sales of Koncar Group products and services with references to 130 world markets in the first quarter of this year reached 67 percent, and the most significant exports were realized in Germany, Sweden, the UAE and Austria.

Two thirds of the the Croatian Koncar company's total exports go to the EU market, which again speaks of the quality of their products and the solutions that they successfully offer in this also very demanding market. Koncar GIM has 375 hydropower plants built and revitalised across the world - individual products are adapted to customer requirements and form a niche market for the company's business, and 700 generators are produced and revitalised. Their business results are based on their own product development and production, cooperation with other companies operating under the wider Koncar umbrella, as well as numerous scientific institutions.

For more, follow our dedicated business section.

Wednesday, 19 May 2021

After Century of Existence, Koncar Group Remains Leader in Development

May 19, 2021 - The Koncar group began its history 100 years ago in a workshop in Zagreb. Today, it is known as a regional leader in the power industry and in the production of rail vehicles. Apart from becoming one of the largest Croatian exporters and the bearer of innovations, quality standards, and technological progress, the Koncar group has also grown into a symbol of longevity and tradition.

As Jutarnji list reports, with an immeasurable contribution to Croatian industry, the Koncar Group has references in almost 130 countries, to date, they have produced and delivered more than 400,000 transformers of various types, voltage levels, and powers, partially or completely built and revitalised 375 hydropower plants, produced and revitalised 700 generators as well as manufactured and delivered nearly 200 low-floor trams and trains.

At the Koncar group, the tradition of knowledge, innovation, and commitment to the company is nurtured and developed from one generation to another. Generations have participated in the creation of one of the leading regional technology companies. Throughout its existence, Koncar has always been one of the leaders in development in its activity and the overall Croatian economy. Products and equipment made by this company are present on all continents, and the realised export in the hundred-year history of 6.4 billion USD is proof of its top quality, reliability, and constant technological progress.

In 2021, the Koncar Group celebrates its 100th anniversary, and the beginning of this celebratory year was marked by excellent business results and strong organic sales growth. Consolidated operating revenues for the first three months of 2021 amounted to an impressive 709.2 million kuna, which is 15 percent more than was recorded back during the same period in 2020. 

"Despite a difficult period, we were able to act quickly and adjust our business processes to the "new normal'' in order to maintain a positive business trend. That acts as proof of our expertise, quality, knowledge, and the courage we showed during the pandemic. We'll continue to work diligently, taking into account the well-being of all of our customers, employees, owners, and business partners,'' the President of the Management Board of Koncar, Gordan Kolak concluded.

One of the main assets of the Koncar Group, which is the development and production of rail vehicles, has greatly contributed to the aforementioned excellent results. Thus, Koncar confirmed its status of a Croatian synonym for rail vehicles with a contract with HŽ Putnički prijevoz (passenger transport), as it will deliver 12 electric trains for urban-suburban and regional traffic. This business area of ​​the Koncar Group is recognised on the international market, especially when it comes to electric trams. In November 2020, the Koncar Group delivered their first tram to the Latvian city Liepaja, and a total of twelve of them for that customer, more specifically Liepajas Tramvajs, will be delivered by April 2022.

With such cooperation, Croatian railway transport will certainly experience a significant step forward. The export of trams to Latvia has opened the doors of the European Union for this well respected Croatian company.

For more about business in Croatia, follow TCN's dedicated page.

Monday, 25 January 2021

Milanović Speaks With Representatives of Končar Electrical Industry

ZAGREB, 25 January, 2021 - President Zoran Milanović on Monday received representatives of the Končar Electrical Industry Group, on the occasion of the company's 100th anniversary, the President's Office said in a press release.

The President of Končar's Management Board, Gordan Kolak, presented the members of the new management board to President Milanović, as well as the current business operations and the existing business activities and development plans of the group, which consists of 14 companies.

Representatives of Končar said that the company's focus in the future would be on electrical energy and on increasing exports, which already make up nearly 60% of total revenues.

As one of Croatia's largest exporters, Končar is planning to export mostly to Germany, Sweden, Austria, Latvia, Hungary, North Macedonia and the UAE.

At today's meeting, it was said that professional and educated employees were important for Končar's development and successful competition.

The company currently has 3,500 employees.

As the biggest business successes in 2020, the company's representatives mentioned the production of transformers for substations for a buyer from the USA, the production of low-floor trams for a buyer from Latvia, the construction of the biggest solar power plant in Croatia on the island of Vis, and the continued production of electric trains for the HŽ Passenger Transport company, the press release said.

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