Croatia’s leading technology company, KONČAR, has delivered its sixth consecutive year of record business performance, further strengthening its position as one of the key players in the European power industry. According to the unaudited financial statements for 2025, the KONČAR Group generated consolidated sales revenue of EUR 1,319.6 million – an increase of EUR 265.3 million or 25.2% compared to 2024. Export once again played a dominant role, accounting for 68% of total revenue. Specifically, international sales reached EUR 893.7 million, up by EUR 151.5 million or 20.4% year‑on‑year. Net profit amounted to EUR 220.7 million, an increase of EUR 56.3 million compared to 2024. A strong foundation for continued growth is reflected in the Group’s order backlog, which reached EUR 2.7 billion by year‑end.

The continuation of multi‑year growth, especially in order intake and backlog, has ensured stable revenue visibility for the coming years, high capacity utilization, and growing profitability. Alongside net profit, the trend is confirmed by reporting EBITDA, which reached EUR 240.8 million, representing an increase of EUR 56.2 million, with an EBITDA margin of 18.3%. Significant progress was achieved across almost all international markets, with the European Union remaining the strongest growth driver. Sales in the EU reached EUR 638.9 million, up EUR 87.2 million compared to 2024. KONČAR also doubled its revenue in the Americas and Australia, reaching EUR 40.4 million in 2025. Among individual countries, Germany remains the most important export market with EUR 188.3 million in sales – representing 21.1% of total exports and a 44.2% increase year‑on‑year. Sweden followed with EUR 119.8 million, while Norway achieved EUR 64.4 million in exports, marking an impressive increase of 73.9%.

“The year 2025 was marked by strong growth, global expansion, and strategic advances that further reinforced our position in the global energy, transport, and industrial ecosystem. As we enter 2026, we remain focused on implementing our ambitious investment cycle, strengthening technological capabilities, developing new products, and continuing the internationalization of our operations. Over the next three years, we plan to invest EUR 550 million into the expansion and modernization of production capacities, increasing export competitiveness, and ensuring the conditions for further growth and development of the KONČAR Group. We believe that the expertise and dedication of our people – combined with a clear strategic focus and a portfolio of high‑value solutions tailored to customer needs – will remain the foundation of our sustainable global growth,” said Gordan Kolak, President of the Management Board of KONČAR.

Among the most important strategic developments is the intensified focus on dual‑use technological solutions, confirmed by the signing of a Framework Agreement with the Ministry of Defence for the development and production of advanced anti‑drone systems. This project positions KONČAR as a regional leader in advanced digital solutions for critical infrastructure. Other business segments also achieved strong results, both in financial performance and in strengthening their market position. In the transmission and distribution segment – which accounts for three‑quarters of KONČAR Group’s revenue – a key milestone was the construction of the 400 kV Promina substation, a critical infrastructure hub for integrating renewable energy sources and supplying large areas of Dalmatia. The urban mobility and infrastructure segment recorded an equally strong year, supported by new contracts for battery‑electric and electro‑diesel trains, continuing the successful cooperation with HŽ Passenger Transport. A historic milestone was reached with the launch of Croatia’s first battery electric multiple unit, developed and manufactured by KONČAR – making Croatia the first European country to introduce a battery train in commercial operation, and positioning KONČAR among the few global manufacturers of such technology. One of the most strategic decisions of 2025 was the localization of part of KONČAR’s production in the United States. The signing of an agreement with Sanmina Corporation, a Fortune 500 company, opened the door to strengthening the Group’s presence on the US market and developing medium‑voltage transformers tailored to local requirements. This partnership significantly expands KONČAR’s global reach and creates new opportunities for the internationalization of operations.

Finally, KONČAR’s development achievements were closely followed by the investment community. The Group’s strong credibility and reputation are reflected in its market capitalization, which exceeded EUR 1.8 billion at year‑end. Several historic share price highs were recorded during the year, indicating strong investor confidence in KONČAR’s long‑term strategy and business model. Adding to this recognition, KONČAR received the Zagreb Stock Exchange “Golden Share” award for the second consecutive year – a distinction reserved for the most successful and most liquid issuers on the domestic capital market.