Despite pronounced global instability that marked the first quarter of 2026, we continue to deliver outstanding business and financial results. All key performance indicators recorded further growth compared to the same period in 2025, with particular emphasis on the exceptionally strong level of newly contracted business amounting to €585.0 million. A significant step forward was achieved on international markets, where the value of new contracts increased by more than 50% year-on-year.

Consolidated revenues from the sale of products and services reached €330.5 million, up by €24.4 million compared to the first quarter of last year, while net profit amounted to €72.7 million, representing an increase of €7.6 million year-on-year. Supported by the continued positive trend whereby newly contracted projects exceed realised revenues, the order book (backlog) rose to over €2.9 billion. This represents an increase of €759.5 million compared to the end of March 2025 and €235.7 million compared to year-end 2025.

In addition to the very high level of new orders, KONČAR’s strengthening competitive position on the global market is further confirmed by its export performance. Exports accounted for 72.2% of total Group revenues, continuing to dominate the overall revenue structure. As a result, the Group exceeded its strategic target for 2026 within the first three months of the year, having planned an export share of 70% of total sales revenues.

EBITDA amounted to €79.1 million, an increase of €9.5 million compared to the same period last year, while the EBITDA margin improved by 1.2 percentage points, reaching 23.9% in the first quarter of 2026. Revenue growth continued across almost all business segments, with the power transmission and distribution segment once again leading performance. Revenues in this segment totalled €276.6 million, an increase of €21.3 million year-on-year, confirming its central role in the Group’s overall growth and stability, as well as the strategic importance of the Croatian-based company in the global green transition. 

“During the first quarter of 2026, KONČAR Group operated in an environment of heightened geopolitical tensions and pronounced market volatility, further underlining the importance of agility, resilience and a clearly defined strategic direction. The achieved level of new contracting clearly reflects strong market demand driven by key global trends in energy and critical infrastructure and indicates that demand for electrical equipment and integrated solutions will continue to grow in the coming years. Accordingly, we continue to invest strongly in technology development and innovation, particularly in the context of accelerated digital transformation and increasing energy, geopolitical and cybersecurity risks. A special focus is placed on the development of digital solutions, platforms and advanced ICT systems, which we see as a key link between traditional industry and future smart energy and infrastructure solutions.”, said Gordan Kolak, MSc, President of the Management Board of KONČAR.

Among the most significant projects contracted by the end of March, particular emphasis is placed on the contract for the modernisation of the Orlík hydropower plant units – one of the largest and most important hydropower plants in the Czech Republic and a key facility within the Vltava cascade. This project is strategically highly important for KONČAR as it involves the participation of several companies within the Group. It also confirms KONČAR’s strong reputation for the successful delivery of complex and demanding energy projects aimed at enhancing the reliability and efficiency of power infrastructure, while simultaneously contributing to sustainable development goals. In addition, notable success was achieved on the Swedish market, where four new complex projects with a total value of €29.4 million were contracted. Through these projects, KONČAR further strengthens Sweden’s transmission power grid and reinforces its strategic focus on expanding its presence in the Scandinavian market.

Ensuring adequate production capacities and qualified expert personnel remains one of KONČAR’s key strategic priorities going forward. Long-term business stability and resilience are supported by the Group’s strong presence in the European Union market, a record-high backlog, and a high level of revenue predictability and capacity utilisation. In such circumstances, KONČAR continues to strengthen its operational and development capabilities with the aim of leveraging market opportunities more effectively and continuing to create sustainable value for all stakeholders.