In the first quarter of 2017 Boryszew, one of the largest industrial groups in Poland, achieved net profit in the amount of PLN 78 million (increase by 77% y/y), EBITDA of PLN 128.3 million (increase by 30% y/y) and PLN 93.6 million of operating profit (increase by over 40% y/y).
The results for the first quarter of 2017
The net profit of the Boryszew Group in the first quarter of 2017 was over PLN 78.1 million and it was higher by PLN 34 million than the net profit achieved in the corresponding period in the previous year. The EBITDA of the Boryszew Group was PLN 128.3 million, while the operating profit was PLN 93.6 million.
The first quarter of 2017 was another good period for our Group. “As expected, we have improved the results in the automotive segment as much as possible, both in Maflow and in Boryszew Automotive Plastics. We continue to optimise the production processes in this field and increase the margins. In the Metals segment, the first quarter has brought an expected improvement in the aluminium products and a quite varied situation in other plants of the Segment,” says Jarosław Michniuk, President of the Management Board of Boryszew S.A. “One should also note the improvement in the Chemicals segment, particularly in Boryszew S.A. ERG branch, due to, among others, introduction of new products,” the CEO of Boryszew adds.
In 2016, GK Boryszew generated PLN 1.60 billion in sales revenue, against PLN 1.48 billion in the corresponding period in the previous year.
“Over 8% of the revenue increase results mainly from the improved sales volumes in the Metals segment, the increase in metals prices in the LME exchange, and improved sales to the key customer in the Maflow segment,” the CEO of Boryszew explains.
Forecast of EBITDA results and net profit of Boryszew Group in 2017
In March, the Boryszew Group published a forecast for 2017. It assumes an increase in net profit to PLN 305.5 million and an increase of EBITDA to PLN 539.7 million.
“The very good results of the first quarter confirm the accuracy of our forecasts,” says Jarosław Michniuk. “PLN 78 million in net profit and over PLN 128 million in EBITDA profit are respectively 25.6% and 23.8% of the forecast. As for today, we do not see the risks for the implementation of our ambitious plans for this year,” the CEO of Boryszew adds.