CONSOLIDATED BALANCE SHEET
(Financial report as of the end of period) - in thousand PLN
As at | ||
Specification | 31.12.2024 | 31.12.2023 |
Tangible fixed assets | 491 034 | 386 784 |
Investment properties | 5 697 | 3 813 |
Goodwill | 40 976 | 9 770 |
Non-tangible assets other than goodwill | 71 176 | 11 940 |
Long-term receivables | 4 237 | 3 486 |
Contract assets | 1 219 | 1 749 |
Financial assets | 571 | 6 |
Investments accounted for using the equity method | 347 | 0 |
Deferred income tax assets | 42 582 | 41 889 |
Long-term prepayments | 2 869 | 1 964 |
Total fixed assets | 660 708 | 461 401 |
Inventory | 272 149 | 248 398 |
Trade receivables | 194 730 | 176 820 |
Other short-term receivables | 22 209 | 14 537 |
Income tax receivables | 2 321 | 458 |
Contract assets | 43 | 256 |
Prepayments | 3 180 | 2 901 |
Financial assets | 3 728 | 1 475 |
Cash | 45 587 | 122 985 |
Assets classified as held for sale | 97 | 563 |
Total current assets | 544 044 | 568 393 |
TOTAL ASSETS | 1 204 752 | 1 029 794 |
Share capital | 5 376 | 5 376 |
Own Shares | -40 173 | -11 230 |
Captal from tha valuation of the incenitive program | 1 347 | 1 118 |
Reserve capital for the share buyback program | 49 230 | 49 230 |
Statutory reserve capital | 1 792 | 1 792 |
Retained profits | 579 938 | 556 063 |
Exchange rate differences | -16 135 | -13 565 |
Total equity of the Parent Company | 581 375 | 588 784 |
Non-controlling interests | 5 172 | 4 349 |
Overall equity of the Parent Company and non-controlling interests | 586 547 | 593 133 |
Credits and debt securities | 273 876 | 110 887 |
Long-term provisions for employee benefits | 19 135 | 19 220 |
Deferred income | 10 322 | 7 101 |
Provision for deferred tax | 14 989 | 512 |
Long-term liabilities | 357 | 204 |
Financial liabilities due to leasing | 20 627 | 20 971 |
Total long-term liabilities | 339 306 | 158 895 |
Credits and debt securities | 43 313 | 45 400 |
Trade liabilities | 109 574 | 112 827 |
Other financial liabilities | 1 652 | 23 |
Financial liabilities due to leasing | 7 118 | 4 904 |
Other short-term liabilities | 42 265 | 28 342 |
Income tax liabilities | 290 | 333 |
Contractual liabilities | 14 035 | 16 788 |
Deferred income | 1 033 | 882 |
Short-term provisions for employee benefits | 48 344 | 47 781 |
Other short-term provisions | 11 178 | 19 923 |
Liabilities classified as held for sale | 97 | 563 |
Total short-term liabilities | 278 899 | 277 766 |
TOTAL LIABILITIES | 1 204 752 | 1 029 794 |
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CONSOLIDATED PROFIT AND LOSS ACCOUNT
in thousand PLN | |||||
01/01/2024 | 01/01/2023 | ||||
Specification | 31/12/2024 | 31/12/2023 | |||
Sales revenues | 1 446 378 | 1 445 601 | |||
Prime costs of the sale | 1 143 659 | 1 170 444 | |||
Gross profit (loss) on sales | 302 719 | 275 157 | |||
Selling costs | 43 076 | 41 792 | |||
General and administrative costs | 197 628 | 153 989 | |||
Other operating revenues | 7 440 | 12 725 | |||
Other operating expenses | 4 059 | 4 693 | |||
Result on deconsolidation | 0 | -175 | |||
Profit/loss on operating activity | 65 396 | 87 233 | |||
Loss (reversal of losses) due to impairment on trade and other receivables in accordance with IFRS 9 | -1 570 | -864 | |||
Financial revenues | 14 120 | 12 910 | |||
Financial expenses | 20 509 | 14 223 | |||
Gross profit/loss (before taxation) | 57 437 | 85 056 | |||
Income tax | 2 438 | 8 597 | |||
Net result on continuing operations | 54 999 | 76 459 | |||
Net result on discontinued operations | -891 | -1 958 | |||
Net result | 54 108 | 74 501 | |||
attributable to: | |||||
shareholders of the parent company | 53 174 | 74 043 | |||
on continuing operations | 54 086 | 75 905 | |||
on discontinued operations | -912 | -1 862 | |||
non-controlling shareholders | 934 | 458 | |||
on continuing operations | 913 | 554 | |||
on discontinued operations | 21 | -96 | |||
Weighted average number of shares | 24 904 352 | 26 075 465 | |||
Earnings per share on continuing operations | 2,17 | 2,91 | |||
Earnings per share | 2,14 | 2,84 | |||
Diluted weighted average shares | 25 570 499 | 26 881 922 | |||
Diluted earnings per share on continuing operations | 2,12 | 2,82 | |||
Diluted earnings per share | 2,08 | 2,75 | |||
01/01/2024 | 01/01/2023 | ||||
Specification | 31/12/2024 | 31/12/2023 | |||
Revenues from sales of products | 1 308 721 | 1 310 459 | |||
Revenues from sales of goods and materials | 108 879 | 115 876 | |||
Other revenues | 28 778 | 19 266 | |||
Total sales revenues | 1 446 378 | 1 445 601 | |||
including: | |||||
- domestic sales | 424 623 | 479 548 | |||
- foreign sales | 1 021 755 | 966 053 |
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CONSOLIDATED CASH FLOW STATEMENT
in thousand PLN | |||
Specification | For the period from 01/01 to 31/12 | ||
2024 | 2023 | ||
Net profit | 54 108 | 74 501 | |
Total adjustments for: | 70 785 | 113 364 | |
Depreciation | 75 104 | 63 979 | |
Net foreign exchange rate profit and loss | -6 753 | -14 346 | |
Net interest and dividends | 13 831 | 9 235 | |
Income tax on profit before tax | 4 929 | 9 514 | |
Profit (loss) on investment activities | -550 | 62 | |
Change in provisions | -28 677 | 11 111 | |
Change in inventory | 16 136 | 24 526 | |
Change in receivables | 21 312 | 16 582 | |
Change in liabilities | -25 030 | -13 074 | |
Change in prepayments and deferred income | -3 367 | -406 | |
Other adjustments | 9 094 | 14 265 | |
Income tax paid | -6 135 | -10 042 | |
Cash from discontinued operations | 891 | 1 958 | |
Net cash flows from operating activity | 124 893 | 187 865 | |
Inflows from sale of fixed assets and intangible and legal assets | 460 | 2 030 | |
Purchase of fixed assets and intangible and legal assets | -107 558 | -65 850 | |
Inflows from financial assets | 1 502 | 0 | |
Other investment cash flows | 1 756 | -2 547 | |
Expenses for financial assets | -161 929 | -11 584 | |
Repayment of granted loans | 2 361 | 0 | |
Interest on loans granted | 594 | 0 | |
Net cash from investing activities | -262 814 | -77 951 | |
Change in the balance of credits | 140 489 | -32 901 | |
Paid interest | -15 153 | -9 959 | |
Acquisition of own shares | -32 308 | 0 | |
Inflows from the implementation of the incentive program | 3 365 | 0 | |
Financial expenditure on lease | -5 850 | -4 248 | |
Dividends paid to owners | -29 969 | -31 291 | |
Other revenues/expenses | -59 | -37 | |
Net cash flows from financing activity | 60 515 | -78 436 | |
Change in cash and cash equivalents | -77 406 | 31 478 | |
Net exchange differences in cash and cash equivalents | 8 | -75 | |
Opening balance of cash | 122 985 | 91 582 | |
Net change in cash | -77 398 | 31 403 | |
Closing balance of cash | 45 587 | 122 985 | |
including of limited disposability | 228 | 810 |
3