ORZEŁ BIAŁY GROUP has been consistently pursuing the upward trend in financial results over the past few years. After 9 months of 2018, the Group earned a record EBITDA of PLN 28.4 million (up 8.3% y-o-y) which was influenced by the cost-effective structure of raw materials used for production. Q3 2018 saw the Group finishing with EBITDA (excluding one-off events) at PLN 7.9 million.
- Orzeł Biały Group profit on operating activities amounted to PLN 5.6 million without taking into account the impact of the subsidiaries control recovery settlement at PLN (-1.2 million) and excluding the write-off for bad debts in the amount of PLN 1.7 million. Incrementally for 9 months of 2018, there was an increase of 13.9% y-o-y reported.
- Net profit of Orzeł Biały Group in the third quarter of 2018 amounted to PLN 2.9 million. At the same time, incrementally for 9 months, it amounted to PLN 15.3 million, up 17.7% y-o-y.
- The volumes of refined lead sold in the third quarter of 2018 amounted to PLN 15,500 mt. In turn, for 9 months it amounted to 50,000 mt.
Q3 saw sales revenues of the Group after a positive result on lead price hedging transactions at PLN 3,970,000 were PLN 149,449,000. The decrease in revenues was mainly due to the lower sales volumes. Cumulatively for 9 months the revenues amounted to PLN 487,552,000 and included a positive result on hedging transactions in the amount of PLN 5,003,000.
In the reporting period, Orzeł Biały regained control over Orzeł Surowce and its subsidiaries, as a result of which these companies were included in the consolidation of Orzeł Biały Group.
“The third quarter was undoubtedly difficult for us due to the long and warm summer as well as the lower demand for lead due to the interim time-shift of orders from our strategic customers. Looking at the whole year, this does not affect our sales patterns. We are very focused on our customer needs and we try to meet their expectations at all times, and this is why we enjoy stable and long-term business relations with our key customers. In addition, we can see a steady increase in the number of new made and registered cars in Europe, meaning that our customers are constantly investing and growing, which translates into a positive growth for our business” said Michael Rohde Pedersen, President of the Management Board of Orzeł Biały.
In the reporting period, Orzeł Biały Group continued its efforts to acquire a strategic investor as a result of the strategic options review process.
“The ongoing process of reviewing strategic options turned out to be interesting for investors, as confirmed by non-binding offers submitted. In the reporting period, our activities focused mainly on the analysis of non-binding investment proposals and the presentation of the Company to potential investors. These activities remain in progress,“ said Michael Rohde Pedersen, President of the Management Board of Orzeł Biały.