KONCAR - Elektroindustrija (KOEI) Q3 2026 earnings summary

Executive summary

• Jan–Sep 2026 operating revenue reached EUR 1,110.0m, up 19.9% YoY; sales revenue was EUR 1,095.9m, up 19.9%.

• Net profit rose 37.6% to EUR 230.6m; EBITDA increased 26.9% to EUR 232.9m, with a 21.2% margin.

• New orders reached EUR 1.75bn and backlog EUR 3.30bn, supporting visibility into 2027 and beyond.

Financial highlights

• Operating profit was EUR 208.3m, up 27.9% YoY; reported operating margin improved to 19.0% from 17.8%.

• Normalised EBIT rose 26.6% to EUR 201.8m; normalised EBIT margin was 18.4%, up 1.0 percentage point YoY.

• Normalised net profit increased to EUR 224.2m from EUR 164.2m; normalised net margin reached 20.5% from 18.0%.

• Total income was EUR 1,160.3m, up 20.7%; profit before tax was EUR 256.3m and income tax EUR 25.7m.

• Staff costs rose 27.3% to EUR 211.8m; average employment increased to 6,652 from 5,699, reflecting expansion and acquisitions.

Outlook and guidance

• Backlog stood at EUR 3.30bn at 30 September, up 42.0% YoY; EUR 2.76bn was scheduled for delivery in 2027 and later years.

• Backlog delivery schedule: EUR 360.7m by end-2026, EUR 494.4m in 2027 and EUR 889.9m in subsequent years, from orders received during the period.

• Manufacturing capacity, digitalisation, automation and R&D are the focus of the largest investment cycle to date; EBRD, IFC and domestic banks support the programme.