Over PLN 191 million in net profit for Boryszew Group

In 2016, Boryszew – one of the largest industrial industrial groups in Poland – has achieved over PLN 191 million in net profit (increase by 107.5 million yoy), PLN 382.2 million in EBITDA profit (increase by PLN 123.3 million yoy), PLN 259.0 million in operating profit (increase by PLN 120.9 million yoy).

Results in 2016

The net profit of the Boryszew Group in 2016 was over PLN 191 million; it was higher by PLN 107.5 million than the result achieved in the corresponding period in the previous year. The EBITDA of the Boryszew Group was PLN 382.2 million, while the operating profit of the Boryszew Group was PLN 229 million.

“The 2016 results are definitely better than the ones achieved in the previous year. In our view, the most important result is the increase in the operating profit. It is mainly due to the effects of the restructuring activities in the automotive segment, a significant 30% increase in sales of the Maflow Group, and the increase in product prices in the BAP Group,” says Jarosław Michniuk, President of the Management Board of Boryszew S.A. “In the non-ferrous metals segment, the results of the Aluminium Smelter in Konin are the key to achieving such good results. It is the effect of the implemented investment programme aimed at an increase of the share in the sales of highly processed specialised articles for the automotive and packaging segments. The investments have resulted in an increase in both productivity and achieved margins,” the CEO of Boryszew adds.

In 2016, GK Boryszew generated PLN 5.58 billion in sales revenue, against PLN 5.68 billion in 2015.

“A slight decrease in revenue of the Boryszew Group is caused by the reduction in sales volume in the metals segment and the end of the low-margin operating activity of Boryszew S.A. Commercial Branch,” the CEO of Boryszew explains

Forecast of EBITDA results and net profit of Boryszew Group in 2017

The Boryszew Group have 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 key assumptions for the forecast are the USD/PLN exchange rate at PLN 3.9, EUR/PLN at PLN 4.3, and WIBOR at 1.65%.

“The forecast of the Group’s results published today is based on a few solid foundations,” Jarosław Michniuk says. “The key is to improve profitability while maintaining the current sales levels in the BAP Group. The other factor is an increase in sales and improvement of operational efficiency in Maflow. We also assume an increase in profitability in the non-ferrous metals segment which will largely a result of the implementation of investment programmes in the Aluminium Konin Smelter and NPA Skawina,” the CEO of Boryszew adds.