Orzeł Biały, Poland`s largest company specialising in the recycling of end-of-life lead-acid batteries and accumulators, earned revenues at PLN 420.8 million in 2013, up 2.1% y-o-y. EBITDA (operating profit before depreciation and amortisation) was negative at PLN 20.0 million while the pre-tax result was negative at PLN 20.4 million. The financial result of 2013 was strongly affected by provisions and write-offs related to the review and internal audit and the planned transfer of the entire business of the company from Bytom to Piekary Śląskie.
The volume of lead processed and shipped hit a record high at 55.46 kT while more technologically advanced lead alloys contributed to the overall sales structure.
2013 was not favoured by market conditions for battery scrap, the key input material used in the lead manufacturing. Battery scrap prices rose to historically highest values, affected by the shadow economy operations and shortages of this raw material in the country. In the face of this trend, the company is making all efforts to further improve efficiencies.
