Boryszew S.A. – Warsaw Stock Exchange Blue Chip
23/09/2013Boryszew’s operating profit after the first half of 2013 was PLN 47.6 million. EBITDA was PLN 101.7 million. Boryszew’s net profit was PLN 29.1 million.
“The first half of 2013 was fully in line with our expectations. We expected a decline in the automotive segment and worse results in the zinc and lead sectors. Lower operating profits and net profits compared to last year are due to less one-off events,” says Piotr Szeliga, President of the Board at Boryszew. “We are now restructuring the Group’s automotive segment. It is almost finished, Maflow expects better results each quarter. However, Boryszew Automotive Plastics companies are only half way and therefore it will gradually improve its income statements until the end of next year,” Piotr Szeliga adds.
In the first quarter of 2013, Boryszew generated PLN 2.44 billion revenue compared to PLN 2.51 billion over the same period of 2012. “Boryszew’s revenues are stable and at a high level. Despite the difficult situation especially in the automotive market, Boryszew Group’s revenues are almost the same as a year ago, achieving higher sales in other segments,” President of the Board at Boryszew says. “WM Dziedzice’s historically high volumes of sales are the highlight – sales quantity increased by 3.6 thousand tones, i.e. by 30%.’’
Investments
Currently the Group has two large investment projects:
- Production capacity development for high-margin aluminium products by around 10k tonnes per year;
- Value of the investment is PLN 40 million;
- Deadline for the project is 1Q 2014;
- Building plastics parts factory in Russia for Boryszew’s major customer – Volkswagen;
- Value of investment is 10 million euros;
- Deadline for the project is 3Q and 4Q 2013.