Q3 2013 financial results

Boryszew’s net profit in Q3 2013 was PLN 47.4 million with operating profit of PLN 93.1 million and sales revenue of PLN 3.7 billion. 

Boryszew Group reported a third quarter 2013 operating profit of PLN 93.1 million with EBITDA of PLN 188,6 million. Boryszew’s net profit in the third quarter was PLN 47.4 million.

“In the third quarter of 2013 we reported a slight reverse of market trends compared to the first half of the year,” says Piotr Szeliga, President of the Board of Boryszew S.A. “Europe’s decline in car sales, affecting the results of Boryszew’s automotive activity, hasn’t yet been compensated by our growing businesses in Brazil, China and Russia. However, the market is now recovering, and combined with Maflow’s nearly completed restructuring and BAP’s rapid progress, the situation appears cautiously optimistic. We are also happy about Impexmetal’s results, particularly in the aluminum and copper segments. We are working on maintaining this trend and further increase of margins and sales volumes,” President of the Board of Boryszew adds.

After three quarters of 2013, Boryszew Group generated PLN 3.7 billion of sales revenue, which is 0.7% less than in the same period of 2012.

“This slight decrease in the Group’s revenue is related mainly to the automotive market’s condition in Europe,” President of the Board of Boryszew says. “Also, the aluminum segment, despite achieving its tonnages, recorded a sales decrease. It is linked directly to the decrease in metal prices on the London Stock Exchange. Copper, zinc, and lead segments recorded sales volume increases. It’s worth noting that Walcownia Metali Dziedzice achieved historically high results in addition to ZM Silesia Oława Branch delivering steady growth.’’ Piotr Szeliga adds, “What’s more important is that this year’s results don’t include one-off events and this provides a solid foundation for development.”