ES-SYSTEM

ES-SYSTEM
Press release
Warsaw, May 12, 2009
FINANCIAL RESULTS OF THE ES-SYSTEM GROUP FOR THE FIRST QUARTER OF THE YEAR
2009
PROFITS GROW DESPITE ECONOMIC SLOWDOWN IN THE CONSTRUCTION INVESTMENTS
MARKET
Description (value in PLN thousand)
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1 Q 2009
Revenue on sales of products, goods and
materials
Gross profit on sales
Operating profit (EBIT)
Return on profit EBIT
EBITDA
Gross profit
Net profit
Return on net profit
33 962
14 790
3 335
9,82%
4 756
4 224
3 120
9,19%
I Q 2008
37 535
14 140
2 971
7,92%
4 070
3 106
2 469
6,58%
Change
2009 to
2008
-9,52%
4,60%
12,25%
16,86%
35,99%
26,37%
INCONSIDERABLE DECREASE OF REVENUE due to slowdown in the construction sector
Downturn in the sector of construction investments related to the crisis on the financial markets had
negative influence on the results for the 1Q 2009.
Company’s sales declined by 9,5% in the 1Q to the level of PLN 33,9 mln
o Domestic sale declined by 5,2% to PLN 26 mln
o Export sale in the 1Q amounted to PLN 8 mln and is 21,3% lower than last year
Regardless of sales decline in the Group, positive revenue dynamics were held in the sector of
innovative and energy saving lighting equipment.
GROWTH OF PROFIT ON SALES
Gross profit on sales of the Group increased by almost 5% yoy and reached the level of PLN 14,8 mln.
Increase of profit on sales with decrease of revenue dynamics was possible due to sales of energy
saving products with high margin on the domestic and foreign markets. It confirms justness of the
development strategy in the area of innovative lighting solutions taken by the Capital Group.
Positive effect on the gross result on sales also had the rise in profitability on export sales related to
the change of markets’ structure and strengthening of EUR against PLN.
INCREASE OF PROFIT operation and net
Operating profit of the Group in the 1Q of the current year amounted to PLN 3,335 mln, increase by
12,25%. Operating margin reached the level of 9,8%.
Net profit at the end of March of the current year amounted to PLN 3,120 mln, increase by 26,37%.
Net margin at the of the quarter amounted to 9,2%. Higher dynamics of the net profit in relation to
EBIT resulted from reaching in the 1Q 2009 positive result on the financial operations mainly due to
positive differences in exchange rates (about PLN 750 000).
Selected domestic projects in the 1Q 2009:
• Gallery Olimp - Lublin (T)
• District Prosecutor’s Department - Lodz (Z)
• Museum of Cinematography - Lodz (T)
• Music Theatre - Lodz (Z)
• Kongskilde Factory - Kutno (T)
www.essystem.pl
[email protected]
ES-SYSTEM S.A. z siedzibą w Krakowie, ul. Przemysłowa 2, 30-701 Kraków wpisaną przez Sąd Rejonowy dla Krakowa – Śródmieścia w Krakowie Wydział XI Gospodarczy KRS
do Rejestru Przedsiębiorców Krajowego Rejestru Sądowego pod numerem 0000113760, o numerze NIP 679-25-51-640 i numerze REGON 351610904, o kapitale akcyjnym
14.145.000, 21 zł (w całości wpłaconym), o zarządzie w składzie:
Prezes Zarządu – Bogusław Pilszczek, Wiceprezes Zarządu – Leszek Ciupiński, Wiceprezes Zarządu – Jacek Wysocki.
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ES-SYSTEM
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Belchatow Power Station Block 858MW (T)
Procter&Gamble cosmetics factory – Aleksandrow Lodzki (T)
City Hall Bielany (Z)
Gallery Malta - Poznan (Z)
Gallery Ilawa (Z)
Bank chain Allianz – about 10 branches in the whole country (T)
SEA TOWERS - Gdynia (Z)
Gallery POLIMENI - Slupsk (Z)
Selected export projects in the 1Q 2009:
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Office building in a business centre Arabella w Munich - (T)
BV Schwoerer Factory in Berlin - (T)
Emergency lighting in a shop-chain M&S, Koszyce, Poznan, Brno - (Z)
Kampus Brno - (Z/T)
Mall Plovdiv - (Z)
Liquefaction faktory in Doha, Katar - (Z)
(Z) – finished, (T) – during realization (Z/T) – partially finished
ES-SYSTEM bets on the DIVERSIFICATION OF MARKETS
In relation to the 1Q of 2008 the number of companies to which ES-SYSTEM sold its products
increased by 4 and amounted to 41. New markets include Uruguay, India, Iran, Moldova. Significant
sales increase were noted in Qatar, Romania, Bulgaria, Croatia and in Spain. Value of export orders in
the 1Q 2009 is greater by 10% than value of export orders in the 1Q 2008.
Data regarding revenue in the 1Q and portfolio of orders expected to be realized in the next months
indicate potential of the Company’s growth in the 2Q 2009. Considering unstable situation and
deepening world crisis the Company cannot foresee situation in the business world in further quarters
of the 2009.
Additional information:
Anna Przyczyna
Administrative Office of ES-SYSTEM S.A.
Tel. +48 (12) 295 80 39
e-mail: [email protected]
ES-SYSTEM S.A. is the largest Polish company in the lighting sector in the section of professional lighting technology for constructions: general,
architectural, residential, industrial, specialist and exterior. The Company forms specialized Capital Group with its own three production plants.
The Group determines direction of the branch’s development in the areas of innovatory technological solutions, energy saving and design. For the
last few years ES-SYSTEM has been recording a double digit increase in income along with distinct improvement of profitability ratios at the same
time. Development strategy of the Group assumes strengthening the position of the national leader in the sector and dynamic increase in export
sales on the EU market and other highly developed countries.
www.essystem.pl
[email protected]
ES-SYSTEM S.A. z siedzibą w Krakowie, ul. Przemysłowa 2, 30-701 Kraków wpisaną przez Sąd Rejonowy dla Krakowa – Śródmieścia w Krakowie Wydział XI Gospodarczy KRS
do Rejestru Przedsiębiorców Krajowego Rejestru Sądowego pod numerem 0000113760, o numerze NIP 679-25-51-640 i numerze REGON 351610904, o kapitale akcyjnym
14.145.000, 21 zł (w całości wpłaconym), o zarządzie w składzie:
Prezes Zarządu – Bogusław Pilszczek, Wiceprezes Zarządu – Leszek Ciupiński, Wiceprezes Zarządu – Jacek Wysocki.
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