Ljubljana based power transformer producer ETRA signed a 20 million euro worth contract with Finnish Fingrid to supply seven 400kV transformers – the largest deal in the company’s history.
2019 has so far been a rather good year for Kolektor Etra (TOP300 2019: rank 96), Ljubljana based power transformer producer. In August the company signed its largest deal so far: a 20 million euro worth contract with Finnish Fingrid to supply seven 400kV transformers.
Kolektor Etra is operating in a very tough market populated by large companies like Siemens, Hitachi, or ABB. The slovenian company’s revenues have amounted to 100 million euros last year and are expected to reach 112 million this year. Yet the small Etra could be compared to David among Goliaths on the transformer market. The company grew on average by 15 percent over the last five years – three times faster than the rest of the market. At the same time Etra manages to boost profitability which is above the industry average.
Etra’s current production is around 240 transformers with the capacity of up to 500 MVA per year. More than half of the revenues are generated on the demanding Scandinavian market. In 2018, for example, they sold 42 transformers to Sweden. Last year the company also received the award for the best national exporter.
Etra’s success is not built on aggressive pricing, but rather on strong brand identity based around technically advanced products: in development of its transformers Etra’s R&D also relies on artificial intelligence. “Kolektor Etra was selected on the basis of the quality of its technical solutions, mainly good transformer efficiency; and last but not least, the price was reasonable,” explained Timo Kiiveri, Vice-president of Fingrid on press conference after the deal signing. This short description summarizes not only Kolektor Etra, but also describes the core of Slovenia’s competitive advantage: top notch engineering expertise at a price which is still competitive.
