Profit and loss account (kPLN)
| Profit and loss account (kPLN) | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 412 085 | 420 815 | 458 563 | 508 536 | 537 342 | 677 061 | 664 751 | 616 834 | 512 396 | 662 687 | 885 944 |
| Gross margin | 21 612 | 12 099 | 22 565 | 33 086 | 44 739 | 55 620 | 49 722 | 52 325 | 60 994 | 112 874 | 166 564 |
| EBITDA | 27 208 | -20 006 | 7 871 | 25 390 | 27 953 | 33 908 | 29 688 | 36 132 | 67 336 | 92 969 | 134 186 |
| EBIT | 16 304 | -27 763 | -38 | 16 513 | 18 730 | 24 095 | 20 468 | 26 016 | 56 852 | 83 593 | 124 405 |
| Gross profit | 14 547 | -30 939 | 1 037 | 15 601 | 6 551 | 21 331 | 19 015 | 23 706 | 57 889 | 82 678 | 128 846 |
| Net profit | 10 692 | -20 433 | 165 | 13 041 | -4 315 | 15 925 | 14 633 | 19 299 | 48 639 | 63 428 | 100 375 |
| Earnings per share | 0,64 | -1,23 | 0,01 | 0,78 | -0,26 | 0,96 | 0,88 | 1,16 | 2,92 | 3,81 | 6,03 |
Cash flow statement (kPLN)
| Cash flow statement (kPLN) | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities | 45 430 | 18 149 | -15 614 | 33 875 | -15 159 | 60 340 | 32 053 | -49 526 | 84 457 | -2 568 | 101 256 |
| Cash flows from operating activities | -40 309 | -28 279 | -13 525 | -8 661 | -6 497 | -6 357 | -10 192 | -9 833 | 5 379 | -16 305 | -8 977 |
| Cash flows from financial activities | 5 325 | 21 878 | 3 456 | -29 278 | 20 419 | -42 186 | -24 301 | 37 547 | -46 914 | -4 721 | -1 829 |
| Total cash flows | 10 443 | 11 746 | -25 683 | -4 064 | -1 237 | 11 797 | -2 440 | -21 812 | 42 922 | -23 594 | 90 450 |
Balance Sheet (kPLN)
| Balance Sheet (kPLN) | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | 342 439 | 355 819 | 373 146 | 346 237 | 380 739 | 360 940 | 349 502 | 406 153 | 414 547 | 474 900 | 600 307 |
| Equity | 251 361 | 235 328 | 239 985 | 246 923 | 238 739 | 261 828 | 255 927 | 282 807 | 322 598 | 386 227 | 484 834 |
| Liabilities | 87 746 | 120 491 | 133 161 | 99 246 | 142 215 | 99 112 | 93 575 | 123 346 | 91 949 | 88 673 | 115 473 |
| Book value per 1 share in PLN | 15,33 | 14,16 | 14,41 | 14,83 | 14,34 | 15,73 | 15,37 | 16,98 | 19,37 | 23,20 | 29,12 |
Profitability ratios in %
| Profitability ratios in % | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on gross sales | 9.8% | 2.9% | 4.9% | 6.5% | 8.3% | 8.2% | 7.5% | 8.5% | 11.9% | 17.0% | 18.8% |
| EBITDA rate | 6.6% | -4.8% | 1.7% | 5.0% | 5.2% | 5.0% | 4.5% | 5.9% | 13.1% | 14.0% | 15.1% |
| Operating Profitability | 4.0% | -6.6% | -0.0% | 3.2% | 3.5% | 3.6% | 3.1% | 4.2% | 11.1% | 12.6% | 14.0% |
| Gross profit margin | 3.5% | -7.4% | 0.2% | 3.1% | 1.2% | 3.2% | 2.9% | 3.8% | 11.3% | 12.5% | 14.5% |
| Net profir margin | 2.6% | -4.9% | 0.0% | 2.6% | -0.1% | 2.4% | 2.2% | 3.1% | 9.5% | 9.6% | 11.3% |
Dividend
Dividend for 2017
From the 2017 profit, Orzeł Biały paid PLN 18.6 million worth of dividends, or PLN 1.12 per share. The effective dividend date was 31 August, 2018, with the funds paid out to shareholders on 14 September, 2018.
Dividend policy for 2014 to 2016:
Orzeł Biały intends to continue the regular dividend payments to its shareholders. Given the completion of the ambitious three-year investment plan in 2014 and the current market situation, the Company’s Management Board is going to recommend a dividend of up to 35% of after-tax profit for the financial year.
Under exceptional circumstances, the Management Board may make changes to the adopted dividend policy, with the dividend policy to be reviewed and revised beyond 2016.
Dividend for 2012
From the 2012 profit, Orzeł Biały paid PLN 3.7 million worth of dividends, or PLN 0.22 per share. The effective dividend date was 4 July, 2013, with the funds paid out to shareholders on 22 July, 2013.
Dividend for 2011
From the 2011 profit, Orzeł Biały paid PLN 12.5 million worth of dividends, or PLN 0.75 per share. The effective dividend date was 28 May, 2012, with the funds paid out to shareholders on 14 June, 2012.
Dividend for 2010
From the 2010 profit, Orzeł Biały paid PLN 10.1 million worth of dividends, or PLN 0.61 per share. The effective dividend date was 11 July, 2011, with the funds paid out to shareholders on 25 July, 2011.