Croatian Dalekovod moves to first-half net loss as revenue plunges
ZAGREB (Croatia), July 25 (SeeNews) – Dalekovod, Croatian power transmission equipment supplier [ZSE:DLKV] announced on Monday a consolidated net loss of 25.4 million kuna (3.5 million dollars/3.4 million euros) in the first half of this year, compared to a net profit of 14.2 million kuna during of the same period of 2021.
“The new circumstances and challenges related to the Russian-Ukrainian crisis and the continuing negative effects of the COVID-19 pandemic, i.e. the reduction of tenders in 2020 and 2021, have had a negative impact on the activities of the Dalekovod Group during the first six months of 2022. The challenges related to the Russian-Ukrainian crisis have further accelerated the existing increase in commodity prices, and therefore aggravated inflationary pressure, which has had a negative effect on the group’s profitability,” Dalekovod said in a filing in Zagreb. stock Exchange.
Total consolidated operating revenue plunged 41 percent on the year to 441.2 million kuna. “The main culprit for the decline in the group’s revenue is its parent company, Dalekovod dd, due to the stoppage of work on two projects in Ukraine and reduced activity in the Scandinavian countries,” he explained. .
Turnover also fell by 41% – to 436.6 million kuna.
Shares of Dalekovod traded down 4.44% to 17.20 kuna intraday on Monday on the Zagreb Stock Exchange.
(1 euro = 7.519 kuna)
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