Consolidated net profit of Croatia's Ericsson Nikola Tesla jumps three times y/y in 1H21

By bne IntelliNews July 27, 2021

Croatian telecommunications equipment producer Ericsson Nikola Tesla (ENT) reported a consolidated net profit of HRK101.4mn (€13.5mn) for the first half of 2021, up three times year-on-year with as all of the company's key operating indicators improving, it said in a press release on the website of the Zagreb Stock Exchange (ZSE) on July 27.

The company's sales revenue increased by 5% y/y to HRK1.01bn. Operating profit increased by 179.1% to HRK119.3mn, while gross profit rose 105.1% to HRK154.3mn.

“Despite the extremely demanding market environment, Ericsson Nikola Tesla has continued to achieve extraordinary business results. Compared to the first half of 2020, all key business indicators increased,” ENT’s CEO Gordana Kovacevic said in the press release.

Sales on the local market comprising 44.1% of the total sales, services provided to the main shareholder, Sweden’s telecommunications company Ericsson, accounted for 44.9% and sales on other export markets contributed 11% of the total sales during in H1. Exports, excluding services provided to Ericsson, totalled HRK111.5mn, up 5.7% y/y.

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