Croatian Koncar Group Cites 2020’s Difficulties, Expects Growth in 2021

Lauren Simmonds

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As Novac/Vedran Marjanovic writes, the Croatian Koncar Group has proven to be resilient to the ongoing coronavirus crisis and even expects revenue growth of ten percent this year, as was announced yesterday by the President of the Management Board of the Croatian Koncar Group, Gordan Kolak.

”The source of growth, first of all, we see in the beginning of the procurement of the HZ Passenger Transport (Putnicki prijevoz) trains, but we still see foreign markets, primarily Germany, Sweden and Austria, as primary in terms of the placement of our goods and services,” stated the head of the Croatian Koncar Group, which consists of fourteen companies within the wider group and a joint venture with Siemens, as well as around 3,500 employees. Their annual revenue stands at an impressive three billion kuna, of which exports make up sixty percent.

When it comes to one of the company’s most significant current export ventures, the sale of trams to the Latvian city of Liepaja, Gordan Kolak indicated that twelve of the contracted trams will be delivered to Latvia this year and next year.

Referring to the impact of the ongoing global pandemic on the Croatian Koncar Group’s overall operations, Kolak stated that it is mostly reflected in the difficult access to new foreign markets, but, he also warned, it also lies in creating a new approach in markets where the Croatian Koncar Group is already present. The report on Koncar’s operations throughout the pandemic-dominated year of 2020, announced Kolak, will not be presented before first being published on the Zagreb Stock Exchange.

”In any case, we had revenue growth last year, but at the moment I can’t talk about the scale of that growth. The general situation on the global market is favourable for our company,” he concluded.

This year, the Croatian Koncar Group is celebrating its 100th anniversary of doing business, and as one of the interesting things related to the jubilee, Kolak stated that Dragutin Pusic from Koncar, who designed the first logo of the company, will also celebrate his very own hundredth birthday.

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