Business
Selena FM S A : Group continues its stable growth – we know the financial results for 2021
Selena FM S A : Group continues its stable growth – we know the financial results for
About this update from Selena Fm S.a.
Wrocław, 2 May 2022 Selena Group continues its stable growth - we know the financial results for 2021 Selena Group has summarized its financial performance for 2021. The global producer and distributor of construction chemicals closed the year with net profit of PLN 102.7 million, the best result in the history of its operations. Despite the unstable raw material market and supply chain disruptions, the company cemented its market position and generated a robust set of results with sales revenues of PLN 1.73 billion, which is an increase of 24.8% YoY. Selena Group's operating profit (EBIT) was PLN 92.7 million. In 2021, Selena Group shored up its position in the existing markets, and strengthened and diversified its supply chains. The key factors undermining stability of the market situation included the significant price volatility and limited availability of raw materials, as well as the still continued pandemic-related restrictions, notably during the first months of the year. With a flexible approach and strategy adapted to individual markets, Selena Group was updating its price lists on an ongoing basis. However, the major increase in costs caused a decline in the gross profit margin, which stood at 27.8% at the year-end, down 6.0 p.p. year-on-year. "The strong results for the past year confirm the effectiveness of our flexible operating strategy in individual markets. We faced many challenges including uncertainty about how the pandemic would unfold, and the unprecedented instability of raw material prices and supplies in global markets. To mitigate the situation, we decided to expand and diversify supply chains and increase the working capital," says Jacek Michalak, CEO of Selena Group, and emphasizes that 2021 was very well used to lay foundations for further growth and planned business expansion. The robust financial performance also allows the company to be active in the equity market. In 2021, Selena Group decided to buy back own shares - 1.2 million shares in total - with a transaction value of more than PLN 28.7 million. The company also intends to continue its M&A plans, which have so far been put on hold. To this end, Selena Group has allocated a budget of EUR 100 million. "We are looking for investment opportunities in the market. Due to the lack of availability of interesting projects that would meet our requirements, we decided to us...