The Management Board of “Orzeł Biały” SA (“Issuer,” “Company”) provides the estimated selected financial data of the Company and the Orzeł Biały Capital Group for 2021 [in million PLN]:
Orzeł Biały SA:
Revenues from contracts with customers: PLN 655 million
Net profit on sales: PLN 86 million
Gross profit: PLN 85 million
EBITDA: PLN 95 million
Orzeł Biały Capital Group:
Revenues from contracts with customers: PLN 663 million
Net profit on sales: PLN 84 million
Gross profit: PLN 83 million
EBITDA: PLN 93 million
The preliminary estimated financial results of the Company and the Group are subject to examination by a certified auditor. The Issuer will provide the final consolidated and individual financial data for 2021 in the separate and consolidated annual report for 2021, the publication of which will take place in accordance with the dates of which the Issuer informed in the current report No. 5/2022 of 24.01.2022.
At the same time, taking into account the investment and development needs of the Company, the high dynamics of changes in the economic environment, fluctuations in the economic situation, market instability, and the impact of Russia’s invasion of Ukraine (described by the Issuer in the report 8/2022 of 08/03/2022), including in particular fluctuations prices of energy carriers and raw materials, the Management Board of the Company decided to recommend the Ordinary General Meeting of “Orzeł Biały” SA to allocate the entire net profit for the financial year 2021 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 sec. 1 of MAR – confidential information