As expected, the Aluminium Systems Segment will generate the highest growth rate (14%). The Flexible Packaging Segment and the Building Services Segment will record a ca. 10% sales growth and the Extruded Products Segment will increase its sales by 8%. The Building Accessories Segment was the only segment to record a slight decrease with ca. 4% 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. 530 million PLN, i.e. it will be higher by ca. 8% than last year’s figure. The decrease in the sale growth rate in the third quarter results mainly from the decrease in aluminium prices on global markets.
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 third quarter will amount to 80 million PLN, and EBITDA (operating profit plus depreciation and amortisation) will amount to 104 million PLN. The balance of the financial operations (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 third quarter of 2014, the balance amounted to -2.2 million PLN). As a result, the Company projects that consolidated net profit will amount to ca. 65 million PLN, i.e. it will be 5% higher than the result in the third quarter of 2014. At the end of September 2015, the net debt of the Capital Group will amount to ca. 300-310 million PLN.
The above forecast was prepared on the basis of the following assumptions.
Q3 2014 Q3 2015 (forecast) Change
av. EUR/PLN exch. rate in Q 4.18 4.19 0%
av. USD/PLN exch. rate in Q 3.15 3.76 +19%
av. 3M al. price in Q 2,008 USD/t 1,625 USD/t -19%