The Management Board of “Orzeł Biały” S.A. (“Issuer”, “Company”), provides estimated selected financial data of the Company and the Orzeł Biały Capital Group for 2020 [in PLN million]:
Orzeł Biały S.A .:
Revenues from contracts with customers: PLN 506.1 million
Net profit on sales: PLN 38.4 million
Gross profit: PLN 39.7 million
EBITDA: PLN 47.9 million
Orzeł Biały Capital Group:
Revenues from contracts with customers: PLN 512.4 million
Net profit on sales: PLN 36.9 million
Gross profit: PLN 57.9 million
EBITDA: PLN 67.3 million
The preliminary estimated financial results of the Company and the Group include a provision related to the payment of annual bonuses for Members of the Management Board of the Company in the total amount of approx. PLN 3 million. The amounts of due benefits are in accordance with the Remuneration Policy for Members of the Management Board and Members of the Supervisory Board adopted in the Company.
The consolidated financial results of the Orzeł Biały Capital Group were affected by the sale of an organized part of the Centralna Pompownia Bolko enterprise in the fourth quarter of 2020, about which the Issuer informed in the current report No. 25/2020 of 31.12.2020.
The final consolidated and separate financial data for 2020 will be submitted by the Issuer in the separate and consolidated annual report for 2020, the publication of which will take place in accordance with the dates of which the Issuer informed in the current report No. 2/2021 of 25.01.2021.
Due to the increased uncertainty on the domestic and international market and the dynamically changing epidemic situation related to the COVID-19 pandemic, the Management Board of the Company, in order to limit possible risks, decided to recommend the “Orzeł Biały” S.A. Ordinary General Meeting to allocate the entire net profit for the financial year 2020 to the Company’s supplementary capital. This proposal will be presented for the opinion of the Supervisory Board of the Company, and then submitted for approval by the Ordinary General Meeting of the Company, which will make the final decision on this subject, with the proviso that if the final published financial results significantly differ from the estimated results, the Management Board has the right to change the recommendation indicated in the resolution.
Legal basis: Art. 17 Para. 1 MAR – Insider information