Annual forecasts

On 17th December 2024, the Management Board of Grupa KĘTY S.A. disclosed in public a forecast of the selected financial and operating results of the Capital Group for the year 2025.

In 2025, the results of the Capital Group will be presented as broken down into four business segments. Based on the assets of the Aluminium Systems Segment located in Opole, where production and sales of roller-shutter systems is carried out, and the assets of the company of Selt acquired in September 2024, the Segment of Sun Protection Systems will be separated.

The Management Board of Grupa Kęty S.A. expects a gradual improvement in the economic situation in Poland and on the European markets, which are the focus for the activities of the Issuer’s Capital Group. The assumption is based, among other things, on:
– the expected GDP increases in most of the European countries;
– continued decreases in interest rates implemented by the European Central Bank, as well as the commencement of a cycle of interest rates reduction in Poland;
– continued trends increasing the demand for aluminium products in construction (higher energy efficiency of buildings, including thermal performance improvement);
– continued support in carrying out investment projects in Poland, with the use of financing under the National Reconstruction Plan.

In effect, the Management Board of the Issuer assumes 9% growth in consolidated sales, of which:
– 8% y/y, to PLN 2,081 million at the Extruded Products Segment,
– 6% y/y, to PLN 1,872 million at the Aluminium Systems Segment,
– 38%, to PLN 1,144 million at the Sun Protection Systems Segment (including 28 p.p. originating from disclosure of Selt in consolidation compared to 4 month’s disclosure in 2024),
– 2% y/y, to PLN 1,219 million at the Extruded Packaging Segment.

In the production and organisational area, the Capital Group companies will strive for increasing productivity and cost effectiveness, through further processes automation, among other things. The total operating costs expected in 2025 will grow pro rata to the expected sales growth, and will reach PLN 4,869 million (+9% y/y), of which:
– depreciation of PLN 246 million (+16%), including +8 p.p. for Selt,
– costs of materials of PLN 3,088 million (+8%), including +5 p.p. for Selt,
– costs of energy of PLN 181 million (0%), including +2 p.p. for Selt,
– costs of employee benefits of PLN 860 million (+16%), including +6 p.p. for Selt,
– costs of third party services of PLN 431 million (+8%), including +4 p.p. for Selt.

The consolidated EBITDA will reach PLN 990 million and is going to be by 9% higher than expected in the year 2024, of which:

– PLN 214 million at the Extruded Products Segment, growth by 2% y/y,
– PLN 363 million at the Aluminium Systems Segment, growth by 2% y/y,
– PLN 194 million at the Sun Protection Systems Segment, growth by 45% (including +35 p.p. originating from disclosure of Selt in consolidation compared to 4 month’s disclosure in 2024),
– PLN 247 million at the Flexible Products Segment, growth by 3%.

As a result, despite limiting the positive effect of recognition of tax allowances y/y, the expected consolidated net profit of 2025 will be higher y/y and will reach PLN 541 million.

The estimated capital expenditure in 2025 will amount to PLN 329 million, including roughly PLN 47 million on continued projects that started in 2024. Within the remaining PLN 282 million for new projects planned in 2025, about PLN 60 million will represented by development projects, mainly at the Aluminium Systems Segment.

The 2025 Forecast covers for the payment of dividend amounting to 85% of the consolidated net profit for the year 2024, which complies with the binding dividend policy. The recommendation of the Company Management Board in that regard will be submitted for opinion to the Supervisory Board in 2025, based on the assessment of the current and expected standing of the Issuer and its Capital Group.

The forecast net debt level at the end of 2025 will be PLN 1,540 million, and the net debt/EBITDA ratio will reach 1.5.

The complete text of the 2025 forecast as well as video recording and presentation from the teleconference of the Management Board are available below.

Teleconference video recording