Very good financial results for the first half of the year. Sales revenues, increased by 12% and net profit by 5%, compared to the same period last year. The Management Board expects the good economic situation to continue in the next quarter and maintains the forecast of results from the beginning of this year.
Consolidated sales revenues in the second quarter amounted to PLN 748.8 million, which after six months gives PLN 1,423.6 million. Consolidated net profit for the second quarter amounted to 71.7 million zł (cumulative 125.0 million zł). Consolidated operating profit in the first half amounted to 1 169.0 million zł (+ 12%) and EBITDA of 231.5 million zł (+ 10%). Dynamic growth in sales recorded by all three segments of Grupa Kety which applied to both domestic market and markets in the European Union.
In the first half of 2018, the extruded products segment, revenues (outside the group) increased by 9%, year to year to PLN 624.3 million. In the aluminum systems segment, revenues increased by 13 percent. year to year to PLN 589.7 million. It was even better in the flexible packaging segment – there revenues increased by 17 percent. up to PLN 348.4 million.
During the six months of 2018, the entire production capacity was practically used. This combined with the high demand which helped maintain high margins despite the increase in raw material costs (increase in aluminum prices in PLN in the second quarter by 10 percent.) Visible on the market and upward pressure on wages. All major investments were carried out as planned. The Management Board expects the good economic situation to continue in the next quarter and maintains the forecast of results published at the beginning of 2018.
