{"id":9757,"date":"2021-11-26T17:27:08","date_gmt":"2021-11-26T16:27:08","guid":{"rendered":"https:\/\/www.boryszew.com.pl\/?p=9757"},"modified":"2022-11-29T11:53:39","modified_gmt":"2022-11-29T10:53:39","slug":"boryszew-group-closes-q3-2021-with-a-profit-hike-q-q","status":"publish","type":"post","link":"https:\/\/www.boryszew.com.pl\/en\/boryszew-group-closes-q3-2021-with-a-profit-hike-q-q\/","title":{"rendered":"Boryszew Group closes Q3 2021 with a profit hike"},"content":{"rendered":"

Boryszew Group, one of the largest private industrial groups in Poland, has released its consolidated financial statements for Q3 2021. In the reporting period, the Group generated consolidated sales revenues of PLN 1.6bn, up by 37% on Q3 2020 (on a like-for-like basis, i.e. excluding Impexmetal S.A. Aluminium Konin). The Group\u2019s net profit reached PLN 43m, up by 122% on Q2 2021.<\/strong><\/p>\n

In Q3 2021, Boryszew Group\u2019s EBITDA reached PLN 102m, stabilizing on the same level as in the corresponding period a year before. Despite high working capital, the Group\u2019s net debt ratio remained stable at 2.4.<\/p>\n

\u201eIn the third quarter, the Metals Segment was definitely the Group\u2019s driving force while we continued to face and still face challenges in the Automotive Segment. The Group once again demonstrated the importance of production diversification. Our segment-based structure gives us a clear competitive edge, making the Group much more crisis-proof than those of our competitors who operate only in one sector,\u201d<\/em> said Wojciech Kowalczyk, CEO of Boryszew S.A.<\/strong><\/p>\n

Metals Segment<\/strong><\/p>\n

In Q3 2021, the Metals Segment generated an EBITDA of PLN 82m, twice as high as in the corresponding period of the previous year (excluding Impexmetal S.A.). Thanks to the strong economic recovery, all Boryszew Group companies operating in the Segment recorded positive results. Significantly better results were posted by Alchemia and Huta Bankowa, which together sold more than 20% more steel year-on-year.<\/p>\n

Automotive Segment<\/strong><\/p>\n

In the third quarter of 2021, the Automotive Segment\u2019s sales revenues reached PLN 332m, while the Segment\u2019s EBITDA amounted to PLN 4m.<\/strong><\/p>\n

\u201cThe weaker performance of the Automotive Segment is mainly caused by the global crisis due to the broken supply chains at OEMs and the global shortage of semiconductors for car production. In the reporting period, new passenger car registrations in the European market fell by 17% compared to the third quarter of 2020. In the upcoming quarters, we plan to restructure the Segment\u2019s companies, mainly in the BAP Group. We aim to improve the Segment\u2019s efficiency in order to fully benefit from the recovery that is expected next year,\u201d <\/em>Boryszew CEO Wojciech Kowalczyk<\/strong> added.<\/p>\n

Chemicals Segment<\/strong><\/p>\n

In Q3 2021, Boryszew Group\u2019s Chemical Segment generated sales revenues of PLN 72m, while the Segment\u2019s EBITDA amounted to PLN 5m. At Boryszew ERG, the main company of the Segment, a new range of car cosmetics was launched under Boryszew\u2019s iconic brand \u201cBorygo\u201d in the reporting period.<\/p>\n

R&D&I activity in Boryszew Group<\/strong><\/p>\n

This year, Boryszew Group has continued to invest heavily in R&D projects to further develop its product offer in all segments of its activity.<\/p>\n

In the Metals Segment<\/strong>, NPA Skawina conducts highly advanced works on the production of aluminium conduits for electric vehicles and aluminium wire rod alloys for specialized marine cables, while WM \u201cDziedzice\u201d executes the R&D project on high-precision cold drawn products from two-phase brasses. The Maflow Group, part of the Group\u2019s Automotive Segment<\/strong>, is working on developing specialised hoses for air-conditioning systems using R744 (CO2<\/sub>) as refrigerant that will be applied in electric vehicles (EV). In Q3 2021, apart from a new range of car cosmetics offered under Boryszew\u2019s iconic brand \u201cBorygo\u201d, the Chemicals Segment<\/strong> launched the innovative aluminium cleaning fluid AluClean ERG and a series of multi-season, low freezing point liquids protecting the G12++ and G13 cooling systems (for hybrid vehicles) against freezing and overheating.<\/p>\n

After 9 months of 2021, Boryszew Group\u2019s CAPEX totalled PLN 89m.<\/p>\n

\u201eAccording to our estimates, the Group\u2019s total CAPEX for 2021 will reach around PLN 120m. This is slightly less than we planned for this year, but some of the capital expenditures were postponed until 2022 due to delays in investment processes caused by extended delivery times as well as hikes in infrastructure purchase prices. Additionally, some funds were allocated to working capital due to high prices of raw materials in the Metals Segment,\u201d <\/em>CEO Wojciech Kowalczyk<\/strong> explained.<\/p>\n

Boryszew Group operates through three segments. The largest share of the Group\u2019s profits is generated by the Metals Segment, which accounts for more than 70% of total revenues and more than 80% of EBITDA. The Automotive Segment is responsible for over 20% of revenues and less than 4% of EBITDA, while the smallest contribution to the revenues is made by the Chemicals Segment and Others, which together account for 15% of EBITDA.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Boryszew Group, one of the largest private industrial groups in Poland, has released its [\u2026]<\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[143],"tags":[],"_links":{"self":[{"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/posts\/9757"}],"collection":[{"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/comments?post=9757"}],"version-history":[{"count":4,"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/posts\/9757\/revisions"}],"predecessor-version":[{"id":10550,"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/posts\/9757\/revisions\/10550"}],"wp:attachment":[{"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/media?parent=9757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/categories?post=9757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.boryszew.com.pl\/en\/wp-json\/wp\/v2\/tags?post=9757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}