The Management Board of Grupa Kęty S.A., according to the announced calendar of corporate events, hereby publishes preliminary forecasts of results for the fourth quarter of 2015.
In the period, the business conditions on markets serviced by the biggest segments of the Capital Group continued to be good. According to estimates, the highest growth rate will be recorded for the Aluminium Systems Segment (30%), the Building Services Segment (15%) and the Flexible Packaging Segment (10%). The Building Accessories Segment will record sales similar to last year’s figures, and the Extruded Products Segment, due to an over 20% decline in aluminium prices on global markets, will reduce its sales revenue by ca. 8%.
The Management Board of Grupa Kęty S.A. projects that consolidated sales revenue will amount to ca. 515 million PLN, i.e. it will be higher by ca. 8% than last year’s figure. Incrementally, after twelve months, consolidated sales revenue will amount to 2,017 million PLN against 1,962 million PLN projected at the beginning of 2015.
As forecasted by the Company’s Management Board, consolidated operating profit in the fourth quarter will amount to 45-47 million PLN, and EBITDA (operating profit plus depreciation and amortisation) will amount to 69-71 million PLN. Incrementally, for four quarters, consolidated operating profit will amount to 240-242 million PLN (forecast at the beginning of the year was 226 million PLN) and EBITDA will amount to 331-333 million PLN (forecast at the beginning of the year was 321 million PLN). The balance of financing activities in the quarter (costs of interest, exchange rate differences on balance sheet items valuation, including foreign currency loans) will be negative and amount to ca. 3 million PLN (in the fourth quarter of 2014, the balance amounted to -7.4 million PLN). In the fourth quarter, single events related to e.g. the recognition of a tax asset, will have positive impact on the net result totalling ca. 14 million PLN. The Company projects that consolidated net profit for the quarter will amount to ca. 47-49 million PLN, i.e. it will be 100% higher than the result for the fourth quarter of 2014. As a result, after twelve months, consolidated net profit will amount to 205-207 million PLN (the forecast at the beginning of the year was 201 million PLN). At the end of December 2015, net debt of the Capital Group will amount to ca. 260-270 million PLN.
The above forecast was prepared on the basis of the following assumptions.
Q4 2014 Q4 2015 (forecast) Change
average EUR/PLN exch. rate in the quarter 4.22 4.26 +1%
average USD/PLN exch. rate in the quarter 3.38 3.90 +15%
average 3M alum. price in the quarter 1,974 USD/t 1,500 USD/t -24%
