Boryszew S.A. – Warsaw Stock Exchange Blue Chip
23/09/2013The first quarter of 2013 brought Boryszew an operating profit of PLN 28 million which is PLN 33 million lower than the result achieved in the same period last year. Net profit of Boryszew after 1Q 2013 was over PLN 19 million.
“The first quarter of 2013 reflects the current macroeconomic climate and weaker condition of our key customers comparing to the previous year – especially in the automotive industry,’’ says Piotr Szeliga, Boryszew’s President of the Board. “Boryszew’s metal sector – mainly aluminium segment – provided positive financial results. A slightly worse performance from automotive segment, which was however included in the long-term restructuring plan, illustrates that the recession in that segment was still visible. However, considering the acquired and negotiated contracts and remedial actions taken, growth is expected in this segment,” Piotr Szeliga comments.
After the first quarter of 2013, Boryszew Group generated PLN 1.21 billion of revenue compared to PLN 1.25 billion in the same period of 2012.
“Boryszew’s revenue decreased by approximately 3.7% compared to last year,’’ says Boryszew’s President of the Board. ‘’However, taking into account a significant weakening of demand due to the crisis in EU countries our achieved outcome is fully acceptable. It is worth mentioning those one-time events which scored us around PLN 17 million had a crucial influence on last year’s results,” Piotr Szeliga adds.