Orzeł Biały will receive will receive a subsidy in the amount of PLN 14.4 million for new pro-growth investments. The funds that have been granted to the company come from EU funds under the Operational Programme Innovative Economy – Support to Investments of
Great Economic Significance. Over the next few years, the Company will spend approx. PLN 63 million for the implementation of the capex programme.
Orzeł Biały earned consolidated revenue at PLN 145.9 million in the first half of this year, an increase of 75 per cent as compared to the same period last year. The pre-tax profit of the Group amounted to PLN 18.5 million during the first six months of this year and was nearly four times higher than the one recorded in the same period last year (after eliminating the results of last year`s one-off events). The operating profit reached PLN 21.5 million while EBITDA amounted to PLN 25.3 million.
On 18 August Orzeł Biały S.A. received a notification from the London Metal Exchange (LME) about the lead brand registration of the lead brand manufactured by the Company under the name of EAGLE 9997. See the attachment for the notice.
In the first quarter of this year, the revenues of Orzeł Biały Group of Companies increased by more than 57 per cent as compared to the same period last year and amounted to PLN 72.4 million. The Group recorded a pre-tax profit of PLN 7.3 million as compared to a loss in the first quarter of 2009. EBITDA reached PLN 12 million while the operating profit exceeded PLN 10.1 million.
The revenues of Orzeł Biały Group of Companies in 2009 amounted to 198.5 million, down 24.6 per cent as against last year. The pre-tax profit reached PLN 14.4 million as compared to 35.3 million in 2008. Just in the Q4 the revenues amounted to PLN 67.4 million and the pre-tax profit stood at PLN 10.7 million, or up 14 and 43 per cent, respectively, against the similar period of 2008.
