The biggest Polish automotive producer, Boryszew Group, made a net profit of PLN 172 million (giving PLN 111.3 million growth y/y), PLN 333.6 million in EBITDA (giving PLN 138.8 million growth y/y), PLN 243.9 million profit on operating activities (giving PLN 136.7 million y/y).
2016 Q3 results
Net profit of Boryszew Group in 2016 Q3 is PLN 172 million which is PLN 111.3 million greater compared to 2015 Q3. EBITDA is PLN 333.6 million while the profit on operating activities is PLN 243.9 million
2016 Q3 results prove the Group’s positive condition. It is central to the Group to maintain our automotive companies. Maflow Group, a manufacture of car wiring systems, has performed significantly better. It is also noticeable how Polish plants in Tychy and Chełmek as well as Boryszew Automotive Plastics have improved their results. Yet another quarter proves that restructuring efforts have a solid influence on every level of financial statement. What’s more important we keep gaining new contracts, says Jarosław Michniuk, CEO of Boryszew Group SA. Non-ferrous metal segment, Walcownia Metali Dziedzice in particular, improved sales supplying building sector in Poland. Huta Aluminium w Koninie consistenly increases unit margins as a result of various investments. The sale of Łucka building has also affected the final Q3 results, he adds.
Q3 2016 resulted in PLN 4.17 billion of sales revenue compared to PLN 4.34 billion Q3 2015.
Metal prices on LSE and the Group’s sales restructure resulted in a slight decline in sales, CEO of Boryszew Group explains.