First six months in 2016 at Boryszew Group resulted in PLN 96 million of net profit (giving PLN 42.1 million growth y/y), PLN 155 million of profit on operating activities (giving PLN 86 million y/y) and PLN 214 million in EBITDA (giving 68 per cent growth y/y).
2016 1H results
First-half profit on operating activities of Boryszew Group is PLN 154.9 million which proved an increase compared to last year’s PLN 86 million. Boryszew Group’s EBIDTA is PLN 213.9 million while net profit is PLN 95.7 million.
First six months show the significant impact of automotive division on the overall results. Over PLN 50 million of profit on operating activities, which last year was proving to be a loss, is a clear proof of the successful restricting process and assures us about the chosen direction. It is worth noticing that Maflow and BAP has both contributed to such positive results, says Piotr Szeliga, CEO at Boryszew SA. Non-ferrous metals division results are consistently driven by the performance of Huta Aluminium in Konin. The results are stimulated by investments having a crucial effect on production capacity in the production division with highest margins. A slight decrease was noted by NPA Skawina and it was mainly due to sales receivables at one of the main clients, he adds. For Walcownia Metali Dziedzice it is yet another fruitful quarter which noted record-breaking operating results, with increasing volumes and good prices. We hope to continue this trend.
After first six months of 2016, Grupa Boryszew noted PLN 2.85 billion of sales revenue, compared to PLN 3.06 billion in 1H 2015.
A slight drop of sales revenue was mainly a result of metal prices drop on LSE. The prices of raw materials which are core for our business have dropped by 3 per cent up to 6 per cent. A subtle sales volumes drop, primarily in trade sector, is due to both our decision about extinguishing the trading activities and sales restructure, Szeliga adds.