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.

Related Articles

Kazakhstan and Uzbekistan’s combined IT exports surpass $800mn

Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more

Uzbekistan introduces national programme for digitalisation of agriculture

Uzbekistan has introduced the National Programme of Action for the Digitalisation of Agriculture. Aimed at modernising the country's agrifood system, the programme is the culmination of a ... more

Russian banking TCS Group suspends MOEX trading for conversion

Russian banking TCS Group Holding, which operates the country’s only pure online bank Tinkoff, has suspended the trading of its depository receipts on the Moscow Exchange (MOEX) from February 20, ... more

Dismiss