2013

We are profoundly saddened by death of our dear friend Krzysztof Opawski.
Our sympathies to His family and relatives
The Supervisory Board, the Management Board and the Employees of Orzeł Biały S.A.

• Orzeł Biały, Poland`s largest company specialising in the recycling of end-of-life lead-acid batteries and accumulators, earned revenues at PLN 304.9 million after three quarters of 2013, with PLN 5.1 million of EBITDA (operating profit before depreciation and amortisation).
• The Company is still struggling with shortages of the raw materials in the country which have resulted in the detrended increase in the key cost manufacturing cost driver of battery scrap. As a result, the profitability of Orzeł Biały has been affected. In the face of this trend, the company is making all efforts to further improve efficiencies.

• Orzeł Biały, Poland`s largest company specialising in the recycling of end-of-life lead-acid batteries and accumulators, earned revenues at PLN 204.8 million in the first half-year of 2013, with EBITDA at PLN 3.3 million (operating profit before depreciation and amortisation).
• The Company is making all efforts to improve efficiencies as a response to the grey market operations causing shortages of the raw material in Poland and to the detrended increase in the key cost manufacturing cost driver of battery scrap. Owing to efforts made, the Company could regain its profitability in Q2 2013 while sourcing the input material increasingly more cost-effectively.

The Ordinary General Shareholders Meeting of Orzeł Biały, Poland’s leading recycler of end-of-life lead-acid batteries and accumulators, resolved to pay the dividend. The Company will distribute to the shareholders PLN 3.66 million put of PLN 10.85 million of last year’s net profit. Thus, PLN 0.22 will fall upon one share.

• Orzeł Biały, Poland`s largest company specialising in the recycling of end-of-life lead-acid batteries and accumulators, earned revenues at PLN 101.1 million in Q1 2013, with EBITDA at 0.9 million (operating profit before depreciation and amortisation). The volume of lead processed and shipped in Q1 2013 hit a record high and was 13.07 kT.
• The Company is still struggling with shortages of the raw materials in the country which have resulted in the detrended increase in the key cost manufacturing cost driver of battery scrap. As a result, the profitability of Orzeł Biały has been affected.

• Orzeł Biały, Poland`s largest company specialising in the recycling of end-of-life lead-acid batteries and accumulators, earned revenues at PLN 412.1 million in 2012, with EBITDA at PLN 27.2 (operating profit before depreciation and amortisation), as well as the pre-tax profit at PLN 10.7. The volume of lead processed and shipped in 2013 hit a record high and was 55.4 kT, up 8.4% as against the previous year.
• In the second half of the year, the market circumstances were not favourable, notably in terms of battery scrap, the input material. The Company has been reporting lower volumes with simultaneously higher prices.