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Croatian telecoms equipment maker ENT's 2013 cons net profit rises 13.7% to EUR 19mn

February 16, 2014

Croatian telecoms equipment manufacturer Ericsson Nikola Tesla (ENT) said on Feb 13 its consolidated net profit rose 13.7% to 144.4mn (EUR 19mn) in 2013.

Despite the challenging business environment in all markets, ENT posted excellent business results in 2013 and strengthened its market position, the company said in a bourse filing.

Sales revenues fell 29.7% to HRK 1.345bn in 2013, out of which domestic market accounts for 25.3%, and exports for 74.7%, ENT said.

On the domestic market, sales revenues rose 27% y/y to HRK 341mn, while in the countries from the region (Bosnia, Montenegro and Kosovo), sales income increased by 25% to HRK 256.6mn in 2013. On the CIS market, sales revenues decreased by 80% y/y to HRK 178.9mn.

Ericsson Nikola Tesla is part of the Swedish Ericsson Group.

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Source: IntelliNews - Weekly Reports

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