Business News

Iskratel looking for strategic partner

Kranj, 17 November (STA) - Telecoms equipment maker Iskratel generated EUR 4.02 million in net profit at group level in 2018, a 21.2% increase on the year before. Looking to keep up with the latest trends, the company has announced changes to its organisation and business model, while it is also looking for a strategic partner.

Iskratel's boss Željko Puljić has told the STA that a structured search for a strategic partner is under way. He did not disclose any details, but he did confirm that unsuccessful talks had been held with the German venture capital fund Bavaria Industries Group.

The Kranj-based group recorded EUR 104 million in sales revenue in 2018, a 17.2% improvement. Investment amounted to EUR 1.58 million, with roughly a third of going for equipment and slightly less for licences.

The company expects that hardware sales will decline in the future and that software and services will make up the bulk of the business. It is thus announcing changes to its portfolio, organisation and business model, a modernisation of the market strategy and changes in the human resources segment and in corporate culture.

The projected sales revenue for this year is EUR 109 million, while net profit is expected to amount to EUR 3.2 million. Slightly under EUR 2 million are projected to go for investment.

Iskratel had a 866-strong workforce at the end of 2018, while it expects to end this year with 904 workers.

The company is worker-owned, but its strategy calls a strategic partner as "an opportunity for further development and growth".

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