The Management Board of Grupa Kęty S.A., according to the announced calendar of corporate events, hereby publishes preliminary forecasts of results for the first quarter of 2015.
During the first three months of 2015, the demand on the market was encouraging for the biggest segments of the Capital Group. The Aluminium Systems Segment recorded a 25% growth rate for sales revenue, and the Extruded Products Segment increased its sales by 17%. The Flexible Packaging Segment recorded a 5% growth, and the sale of the Building Accessories Segment remained at the level similar to last year’s figure. The Building Services Segment was the only segment to record a decrease with ca. 40% lower sales than in the corresponding period in the previous year.
The Management Board of Grupa Kęty S.A. projects that consolidated sales revenue will amount to ca. 455-465 million PLN, i.e. it will be higher by ca. 11% than last year’s figure. EBIT remains high, which is reflected in operating results comparable to last year’s figures. As forecasted by the Company’s Management Board, consolidated operating profit in the first quarter will amount to 48-50 million PLN, and EBITDA (operating profit plus depreciation and amortisation) will amount to 69-71 million PLN. The balance of the financing activities (interest costs, currency translation differences on balance sheet items valuation, including foreign currency loans), due to the significant depreciation of the Ukrainian currency, will be negative and will amount to ca. 8 million PLN, thus it will be comparable to last year’s figure (-8.2 in the first quarter of 2014).
As a result, the Company projects that consolidated net profit will amount to ca. 31-33 million PLN, which is comparable to 2014. At the end of March 2015, the net debt of the Capital Group will amount to ca. 185 million PLN as compared to ca. 170 million PLN at the end of 2014.
The above forecast was prepared on the basis of the following assumptions.
Q1 2014 Q1 2015 (forecast) Change
average EUR/PLN exch. rate in the quarter 4.18 4.20 +0%
average USD/PLN exch. rate in the quarter 3.05 3.73 +22%
average 3M al. price in the quarter 1,752 USD/t 1,813 USD/t +3%
