Where a century of heritage meets the technology manufacturing of tomorrow, KONČAR Group has achieved enviable prominence in the global energy transition. Gordan Kolak, President of the Management Board, tells us how its portfolio of cutting-edge solutions meets worldwide market demand and shapes a sustainable future.
- THE TECHNOLOGY LEADER SHAPING GLOBAL ENERGY
- A TRACK RECORD OF EXCELLENCE
- AMONG EUROPE’S LEADING TECHNOLOGY POWERHOUSES
- POWERING THE US’ SUSTAINABLE FUTURE
- JACK-OF-ALL-TRADES
- LEADING IN POWER TRANSMISSION AND DISTRIBUTION
- ADVANCED TRANSFORMER MANUFACTURING
- PIONEERING SUSTAINABLE URBAN MOBILITY
- THE BEST OF BATTERY POWER
- SETTING GLOBAL STANDARDS IN CYBERSECURITY
- HOME-GROWN TALENT, WORLD-CLASS EXPERTISE
- PEOPLE, INNOVATION, INVESTMENT
THE TECHNOLOGY LEADER SHAPING GLOBAL ENERGY
A flagship of Croatian and regional industry, KONČAR Group (KONČAR) has evolved over the past century from a small workshop into the nation’s leading net exporter and a globally recognized technology leader.
Today, the company stands as a symbol of strength, quality, and reliability, with a presence in more than 130 markets worldwide.
This unique European story of excellence, dedication, and vision began on 24th January 1921 in Zagreb, the capital of Croatia, with the founding of Elektra Inc. (Elektra), a business focused on electrical and mechanical engineering.
That same year, Elektra became part of the international giant Siemens, and from 1945, operated as Rade Končar.
In 1947, the company launched its serial production of transformers, which began with voltages of up to 35 kilovolts (kV), alongside the production of small oil-filled and dry-type instrument transformers for distribution networks and industrial facilities.
A year later, Rade Končar reached a major milestone that would shape its future – marked by technological breakthroughs and significant contributions to global engineering and science.
This milestone was the first RK generator, with a capacity of 24 megavolt-amperes (MVA), voltage of 10 kV, and weight of 220 tons, produced for the Mariborski Otok hydropower plant (HPP) in Slovenia.
After 40 years of successful operation, the generator became a museum exhibit and one of the company’s historic symbols.
Since January 1991, just a few months before Croatia declared independence in June, the company has operated as KONČAR.
Today, it is recognized as one of the most prominent examples of technical expertise and business success in modern industry.
A TRACK RECORD OF EXCELLENCE
Over the decades, KONČAR has manufactured and revitalized more than 700 generators and successfully delivered over 400 HPP construction and refurbishment projects worldwide – either independently or in collaboration with partners.
Today, the company is best known for its expertise in power transmission and distribution, particularly in the development and production of transformers.
To date, it has manufactured and delivered nearly 500,000 transformers, including various types, voltage levels, and capacities.
With KONČAR transformers operating in almost 120 countries, they represent the most globally distributed Croatian industrial product.
In addition to its core areas of expertise, the company stands as an undisputed regional leader in renewable energy, power engineering, urban mobility, and infrastructure, as well as digital solutions and platforms.
This leadership is firmly supported by key performance indicators (KPIs). For example, last year marked KONČAR’s fifth consecutive year of record-breaking results across all key financial metrics, highlighted by major development milestones and strategic partnerships.
In 2024, the company also achieved consolidated revenue from the sale of products and services exceeding €1 billion, representing an 18.1 percent increase compared to the previous year.
An additional measure of KONČAR’s continued growth was its order book, which surpassed €2 billion as of 31st December 2024 – an increase of 43 percent compared to the beginning of the year.
Moreover, newly contracted business in the same year amounted to €1,667.4 million, up €357.3 million from 2023.
KONČAR continued its steady upward trajectory in the first half of 2025, with Q2 marking over five years of uninterrupted growth.
Compared to the same period in the previous record-setting year, the company achieved a notable increase in consolidated revenue from product and service sales, underscoring its robust market position and operational efficiency.
KONČAR’s strong global competitiveness and the synergy among its companies are best reflected in the export share, which made up a significant majority of total revenue.
Positive developments were also recorded in newly contracted business, further reinforcing the foundation for continued expansion in the coming periods.
Meanwhile, the book-to-bill ratio in the first half of 2025 stood at 1.4, driving the order book to a record-high value of €2.3 billion.
AMONG EUROPE’S LEADING TECHNOLOGY POWERHOUSES
In recent years, the global energy sector has entered its most intensive phase of the green transition.
This socioeconomic shift is increasingly evident in the power industry, which is now facing unprecedented demand for high-tech equipment and solutions – particularly in the power transmission and distribution segment.
Thanks to its competitive and globally recognized portfolio, KONČAR has leveraged these market opportunities to achieve historic growth rates and strengthen its position on the international stage like never before.
With top-tier, custom-made products and solutions tailored to meet even the most demanding requirements of customers worldwide, KONČAR has entered a new era of power engineering as a firmly established company among Europe’s most relevant technology manufacturers.
KONČAR’s export performance remains a clear indicator of its strong global positioning and the synergy across its companies.
In the first half of 2025, exports made up a substantial majority of total revenue from product and service sales, further reinforcing the company’s role as Croatia’s leading net exporter.
Compared to the same period in 2024, exports saw a significant year-over-year increase. The European Union (EU) contributed the most to this growth, with EU countries accounting for the dominant share of KONČAR’s total exports.
Among the most prominent export destinations are Germany, Austria, and the Netherlands, while notable breakthroughs have also been achieved in Scandinavian markets, particularly Sweden and Norway, where KONČAR is actively involved in strategic national energy infrastructure projects.
POWERING THE US’ SUSTAINABLE FUTURE
Despite unfavorable forecasts earlier this year related to US administration policies and proposed tariffs, KONČAR achieved significant additional breakthroughs in the US market during the first half of 2025.
“According to financial reports for the first half of the year, KONČAR recorded substantial revenue growth from product and service sales in the US and Australian markets, more than double the same period last year. This growth was primarily driven by solutions in the power transmission and distribution segment, where KONČAR has been consistently strengthening its global competitiveness,” outlines Gordan Kolak, President of the Management Board.
“In the US market, the most notable export performance came from KONČAR – Instrument Transformers, which achieved a significant year-over-year increase, reflecting the company’s growing presence and relevance in this strategic region. These results confirm the effectiveness of our long-term strategy and strength of our portfolio in key global markets.
“Such deliveries primarily include transformers of various types and capacities, which serve as key components in major transmission network construction projects across the US market. For example, in just the past three months, we delivered 16 transformers rated at 245 kV and 525 kV to the US, which will be installed at the Heward and Freezeout substations in Wyoming, Little Snake substation in Colorado, and Coyote substation in Utah. In addition, we supplied a larger number of transformers under two contracts with Dominion Energy, headquartered in Virginia,” he continues.
Therefore, despite current developments related to tariffs, the US market remains highly promising and strategically important for KONČAR.
As a result, the company is actively exploring further strategic partnerships and the potential for a local presence.
JACK-OF-ALL-TRADES
Hydropower is a niche in which KONČAR holds a level of experience, expertise, and references matched by very few companies worldwide, as one of the areas where the Croatian company is highly recognized and respected on the global stage.
Recently, KONČAR added two major strategic projects to its extensive portfolio – the €65 million revitalization of the Haditha HPP in Iraq and the €80 million revitalization of the Vidraru HPP in Romania.
These complex and high-value projects not only mark new milestones in the hydropower segment but also reflect KONČAR’s strong global competitiveness, having been awarded them through international tenders.
The company is also recognized in the field of renewable energy for its own wind power plant, Pometeno Brdo – Croatia’s first wind farm with a capacity of 20 megawatts (MW), built 16 years ago, which generates approximately 25 million kilowatt hours (kWh) of electricity annually.
KONČAR has also built a strong track record in solar energy. In recent years, it has constructed around 10 large-scale solar power plants across Croatia for various partners and recently signed contracts for the construction of two new solar power plants in Slovenia.
These facilities will be located near the Brežice HPP, a project in which KONČAR played a vital role.
The plant features a nominal capacity of 45 MW and a flow rate of 500 cubic meters per second, with the company having delivered three generators with a maximum continuous output of 21.5 MVA, along with excitation and monitoring systems.
In addition, KONČAR has installed integrated photovoltaic systems at nearly all its manufacturing facilities, significantly reducing the company’s carbon footprint, contributing to the decarbonization of industry, improving energy efficiency, and – most importantly – leading the green industrial transition by example.
LEADING IN POWER TRANSMISSION AND DISTRIBUTION
Power transmission and distribution is a field in which KONČAR has long demonstrated its expertise, consistently reinforcing its reputation on the global stage – particularly within the EU.
While all business segments of the company have shown growth in recent years, this segment leads the way, driven by historically high market demand.
Transformers represent the most powerful export lever within KONČAR’s production portfolio. As some of the most sought-after products in today’s power industry, they have played a key role in its overall achievements.
KONČAR has also made notable development strides in the transformer segment, among them the delivery of transformers featuring bluemint® Steel, a high-quality transformer core material produced with 50 percent lower carbon dioxide emissions compared to conventional manufacturing processes.
Additionally, KONČAR has developed a dedicated GREEN LINE of instrument transformers, which are shipped to customers worldwide.
The share of transformers made with environmentally friendly materials continues to grow, with the largest volumes currently delivered to Germany, Sweden, Denmark, the UK, US, and Australia – further underscoring the company’s global competitiveness.
In addition to KONČAR – Distribution and Special Transformers, KONČAR – Instrument Transformers and KONČAR – Power Transformers have also delivered outstanding results.
Elsewhere, compared to the previous year, KONČAR achieved double-digit growth in product sales revenue, with a significant portion of that generated in the US market, further confirming its strategic importance and global reach.
A key strategic milestone for KONČAR was the acquisition of Dalekovod, which created strong synergies between two experienced and capable companies actively engaged in some of the most important energy infrastructure projects across the EU.
One notable example is the construction of a new 420 kV transmission line on the Vik – Sogndal route in Norway, which includes a crossing over one of the country’s largest fjords – just one of many major projects Dalekovod is delivering in the Scandinavian market.
Thanks to its outstanding references, strong presence in demanding European markets, and the growing need for transmission network revitalization, KONČAR – now further strengthened through strategic expansion – is poised to play a prominent role on the global stage in the years ahead.
ADVANCED TRANSFORMER MANUFACTURING
The unprecedented global demand for transformers and related equipment in the power transmission and distribution sector has introduced new challenges for the industry.
One of the key components in transformer production is the transformer tank, for which market demand continues to rise. To effectively respond to this growing need, KONČAR has once again joined forces with Siemens Energy, a global industry leader and long-standing partner.
Their successful collaboration dates back 30 years to the founding of KONČAR – Power Transformers in 1995. This joint venture (JV) between KONČAR and Siemens Energy, in which the former holds a 49 percent stake and the latter 51 percent, is now recognized as one of the world’s leading manufacturers of large power transformers.
In July 2024, KONČAR and Siemens Energy established a new joint venture, KONČAR – Transformer Tanks (KTK), with KONČAR holding a 60 percent majority stake and Siemens Energy 40 percent.
As part of this initiative, a state-of-the-art transformer tank factory is nearing completion at KONČAR’s site in Sesvetski Kraljevec in Eastern Zagreb.
The facility will employ over 400 people, is scheduled to begin operations in early November 2025, and is projected to manufacture approximately 160 custom-made transformer tanks annually, tailored to meet the specific requirements of global markets and customers.
“It’s important to note that KONČAR has previously manufactured transformer tanks independently. However, the establishment of KTK significantly enhances our capacity and competitiveness in this segment,” Kolak emphasizes.
“Strategic partnerships like the one between KONČAR and Siemens Energy represent a major step forward in strengthening European industry, advancing technological development, and positioning Croatia on the global energy transition map.
“These collaborations allow us to expand production capacity, exchange knowledge and expertise, share risks, and improve market reach. Beyond boosting resilience and operational efficiency, such partnerships also create new jobs and open opportunities for mutual professional growth, innovation, and long-term business stability,” Kolak comments.
“Strategic partnerships like the one between KONČAR and Siemens Energy represent a major step forward in strengthening European industry, advancing technological development, and positioning Croatia on the global energy transition map”
Gordan Kolak, President of the Management Board, KONČAR Group
PIONEERING SUSTAINABLE URBAN MOBILITY
In the global race toward carbon neutrality, Croatia is making a meaningful contribution to Europe’s decarbonization efforts – not only through the integration of renewable energy and digital transformation but also the electrification of public transport and modernization of rail systems with sustainable, green solutions.
At the forefront of developing advanced solutions for domestic urban mobility and infrastructure is KONČAR – Electric Vehicles (KEV), a company that leverages the knowledge and expertise of Croatian engineers.
With a rich tradition of in-house development, its high-tech products and solutions in the field of urban mobility and infrastructure have become synonymous with quality, innovation, and reliability.
A prime example is the latest generation of low-floor trains, widely regarded as Croatia’s most complex technological product. These trains embody the synergy of knowledge, capabilities, and competencies of local experts.
After unveiling its first battery-powered train and accompanying charging station at InnoTrans, the world’s largest transport technology fair held in Berlin in September last year, KONČAR has delivered its most anticipated innovations to Croatian railways this year – battery multiple units (BMUs) and battery electric multiple units (BEMUs), along with supporting infrastructure.
In May 2025, BEMUs – powered by a 100 percent electric drive and supplied with energy from both onboard batteries and the overhead contact line – entered service.
Given a significant portion of Croatia’s railway network has still not been electrified, this hybrid technology offers an ideal solution for sustainable, carbon-neutral long-distance passenger transport across the country.
The debut of KONČAR’s BMU on Croatian railways this September marked a significant milestone – positioning it as the only train of its kind in commercial operation globally.
Both train types were developed under the Application of Green Technologies in Railway Passenger Transport project, funded by Croatia’s National Recovery and Resilience Plan 2021-2026.
As part of the project, six charging stations were installed at railway stations in Split, Osijek, Varaždin, Bjelovar, Virovitica, and Pula.
THE BEST OF BATTERY POWER
BEMUs offer 157 seated and 158 standing places and are designed for an average daily range of up to 480 kilometers (km) and 18 hours of operation.
They can be functionally coupled with the latest generation low-floor trains, enabling increased passenger capacity.
On non-electrified tracks, BEMUs reach a maximum speed of 160 km per hour (km/h) using battery power while on electrified tracks, powered via the overhead contact line. The batteries can be charged either from the contact line or at dedicated charging stations.
On the other hand, BMUs reach a maximum speed of 120 km/h and offer 113 seated and 114 standing places. The optimal range per charge is well over 100 km, with testing showing it can reach distances exceeding 200 km on a single charge.
Like the BEMU, BMUs can be functionally coupled with the latest generation of low-floor trains, allowing for increased passenger capacity.
Both train types are equipped with ramps for wheelchair accessibility and accessible toilets, as well as dedicated bicycle spaces.
The entire passenger area is under video surveillance and features monitors for video content, visual and audio station announcements, and free onboard Wi-Fi for passengers.
“KONČAR’s new battery-powered trains, among the first of their kind globally, are a clear testament to the fact we are not only keeping pace with much larger players but also leveraging our specialized expertise in highly focused technological niches, gaining a competitive edge. This positions us firmly among Europe’s most relevant high-tech manufacturers,” highlights Kolak.
“These two examples of our latest technological achievements – developed together with supporting infrastructure for our long-standing partner, Croatian Railways – demonstrate that we are successfully responding to the global demands of the green transition, both industrially and infrastructurally.
“Moreover, we possess all the prerequisites for a stronger presence in the European market, offering solutions for high-quality and long-term sustainable urban mobility,” he expands.
SETTING GLOBAL STANDARDS IN CYBERSECURITY
While this is the fastest era of technological advancement and digital transformation in human history, it is also one of the most turbulent periods in terms of global instability, threats, and uncertainty.
From energy crises and supply chain disruptions caused by armed conflicts to macroeconomic volatility driven by shifting geopolitical dynamics, many of today’s industrial breakthroughs have emerged as direct responses to these global challenges.
Smart cities, automated industries, and advanced urban infrastructure are becoming essential, with data networks and digital systems increasingly integrated into critical infrastructure.
As a result, cybersecurity is no longer just a technological trend – it’s now a strategic imperative for all industry stakeholders.
Croatia can proudly point to KONČAR as a globally competitive representative and regional leader in technological development within this domain.
Backed by a team of top-tier experts, specialized knowledge, and a growing portfolio of references, the company is becoming increasingly recognized in this field.
Through strategic acquisitions in engineering, particularly digital solutions, KONČAR has strengthened its competencies and expanded access to new markets – positioning itself as one of the most serious IT players in the region.
Cybersecurity is one of the core specialties of KONČAR – Digital, which became the first company in the world to receive certification for cybersecurity compliance under the International Electrotechnical Commission (IEC) 62351 international standard in 2023.
This important certification was awarded by the renowned German certification body TÜV NORD, representing one of the highest recognitions of excellence and alignment with the latest global cybersecurity standards for managing critical infrastructure systems.
The first digital solution in the world to receive this certification, and one of the most representative digital products of Croatian industry, KONČAR’s PROZA Station is designed for the cybersecurity management of transformer substations and other critical infrastructure systems.
So, what exactly is PROZA Station? It is KONČAR’s next-generation supervisory control and data acquisition (SCADA) software, a field in which the company has been recognized for many years.
Indeed, PROZA Station is a flagship example of KONČAR’s capabilities, built from over 40 years of experience in developing industrial software used for monitoring, controlling, and optimizing infrastructure in sectors such as power engineering, e-mobility, data centers, transportation, water supply, and other transmission, distribution, and urban infrastructure systems.
The solution can be integrated with communication and protection-control devices from various manufacturers and is based on the modern PROZA HAT software platform, which supports the development of SCADA systems for real-time monitoring and control of critical infrastructure while also enabling rapid customization and the creation of entirely new solutions.
A key feature of this advanced system is its ability to operate in a private cloud environment using Docker containers, which enhance efficiency in data center deployment and maintenance and introduce additional digital redundancy to improve the resilience of critical infrastructure systems.
PROZA Station is currently in pilot for commercial use at several transformer substations in Croatia and abroad, and KONČAR plans to launch several new digital solutions based on the PROZA HAT platform – particularly in the areas of solar power plant monitoring and control, transport infrastructure, and advanced asset management for energy systems.
HOME-GROWN TALENT, WORLD-CLASS EXPERTISE
KONČAR’s globally established reputation is built primarily on technological products and solutions that stand out for two key reasons.
First, they are developed and manufactured according to a custom-made approach, tailored to meet even the most complex requirements of clients worldwide – including some of the largest power systems.
Second, and most importantly, every KONČAR product and solution is created by Croatian experts, many of whom began developing their skills within the company as early as their academic years.
With nearly 6,000 employees, KONČAR is not only one of the largest employers in the country but also one of the most desirable.
A significant portion of the workforce consists of highly educated professionals – such as electrical and mechanical engineers – including more than 50 PhDs, a competitive advantage the company is proud of.
For over six decades, KONČAR has fostered a tradition of academic excellence and close collaboration with the Croatian education system. Many employees actively contribute to higher education as lecturers, course co-organizers, and lab instructors at the nation’s leading universities.
This scientific and professional cooperation allows many promising students to engage with the company during their studies and gain hands-on experience through internships at KONČAR businesses.
A large number of these students eventually join the company, taking their first professional steps in the offices, laboratories, and production facilities of one of Croatia’s most prominent industrial manufacturers.
“We are proud to say KONČAR stands shoulder to shoulder with both domestic and international competitors when it comes to the engineering and technological competencies of our employees and the accumulated expertise within the company,” Kolak glees.
“This is clearly reflected in the final products we deliver to markets worldwide – products that are highly complex and technologically demanding. Designing and manufacturing a train, tram, transformer, or custom-built generator tailored to specific customer requirements, while remaining cost-competitive, is an exceptional achievement. Ultimately, this speaks volumes about the high level of rare and specialized technological knowledge held by the people at KONČAR,” he adds.
Systematic investment in the personal and professional development of employees has been at the core of the company’s capital investments over the past five years, and KONČAR remains committed to this mission in the years ahead.
“Supporting the growth of our people and providing competitive working conditions to enhance employee satisfaction will be one of our top priorities in 2025 and beyond. With a strong order book and a strategic framework focused on fostering a culture of excellence, we expect continued growth across all business segments and an even stronger market presence – not only as a competitive technology manufacturer but also as one of the most attractive employers in Croatia,” Kolak closes.
“We are proud to say KONČAR stands shoulder to shoulder with both domestic and international competitors when it comes to the engineering and technological competencies of our employees and the accumulated expertise within the company”
Gordan Kolak, President of the Management Board, KONČAR Group
PEOPLE, INNOVATION, INVESTMENT
KONČAR is entering a new era of fully equipped power engineering products thanks to timely and strategic investments in both capacity and competencies. These efforts have positioned the company as a leader in emerging technological trends.
Indeed, over the past several years, KONČAR has made significant investments in expanding its production and research capabilities, accelerating digital transformation, and supporting the continuous development of its people.
With the launch of its new business strategy – ‘People, Technologies, Investments – KONČAR 2030’ – the company is intensifying its transformation, aiming to strengthen its global presence through a modern, digitalized portfolio of products, solutions, and services across the energy, transport, and industrial sectors.
Looking ahead, KONČAR plans to continue with extensive capital investments, focusing not only on new technologies and innovation but also on R&D, modernization of production facilities, and most importantly – people.
The strategy places a strong emphasis on attracting and retaining talent while enhancing market competitiveness through the development of internal resources.
Building on strong contractual commitments, an increasingly prominent global position, and clear market trends, KONČAR has set highly ambitious goals for the period leading up to 2030.
In this time, the company aims to increase the share of total revenue of services to 15 percent, achieve 85 percent of its revenue through exports, establish three regional hubs globally, and become the first choice in the power industry across Central and Eastern Europe.
Aligned with a culture rooted in excellence and continuous technological advancement, KONČAR also plans to digitalize 80 percent of its product portfolio and further strengthen its position as the most desirable employer in Croatia’s energy transition.
In pursuit of a net zero scenario, the company is also committed to reducing Scope 1 and 2 emissions by 45 percent and developing over 500 MW of its own renewable energy sources by the end of the target period.
KONČAR is thinking broadly, globally, and ahead of the current energy industry. With extensive experience and key transformation processes already underway, the company continues to lead the regional landscape into a new era of power and energy.
