Wyniki finansowe Grupy ES-SYSTEM za I

Warsaw, March 17, 2016
Press Release
FINANCIAL RESULTS OF THE ES-SYSTEM GROUP FOR THE YEAR 2015
Surge increase in profits and margin improvement
Item
Item description (values in PLN k)
Q4 2015
1.
Revenues from sales of products, goods and
materials
2.
Q4 2014
Change
Q4 2015 to
2014
2015
2014
Change
2015 to
2014
51 751
48 019
7.8%
184 160
169 016
9%
Operating profit (EBIT)
2 905
2 421
20.0%
9 898
6 810
45%
3.
Return on profit EBIT
5.6%
5.0%
5.4%
4%
4.
Net profit
1 417
1 620
8 413
6 164
Return on net sales (profit)
2.7%
3.4%
4.6%
3.6%
5.
- 12.5%
36%
The year 2015 brought strengthening of the ES-SYSTEM’s position on the market of professional lighting with 9% increase
in sales. The surge in profit and margin improvement is a result of the company's competitive advantage in offering
innovative lighting solutions based on LED technology - said Rafał Gawrylak, CEO of ES-SYSTEM S.A.
The Group's revenues from sales in Q4 2015 amounted to PLN 51.8 M (increase 7.8% yoy). Accumulatively in 2015 the
Group reached PLN 184.2 M in revenues, i.e. 9% increase yoy, a derivative of an increase in domestic and export sales.
These results are due to good economic situation in the industry and sales development based on LED technology, where
ES-SYSTEM has a competitive advantage resulting from knowledge and experience in the field of professional lighting.
DOMESTIC SALES IN ACCORDANCE WITH EXPECTATIONS, COMPETITIVE ADVANTAGE IN THE FIELD OF LED
PRODUCTS
In Q4 2015, the domestic sales amounted to PLN 42 M, i.e. an increase by 14.6% yoy. As expected, accumulatively
throughout 2015, the Group recorded domestic sales in the amount of PLN 151 M (9.6% increase yoy). This result derives
from increased sales in key business segments: the architectural segment increased by 29.5% yoy and the industrial by
9.3% yoy. Optimization of existing and introduction of new and technologically advanced solutions, mainly in LED
technology, contributed to the increase in the domestic sales.
In 2015, the share of LED solutions in domestic sales accounted for 46.8% of the total sales (compared to 27.4% in 2014).
The growing demand for customized LED solutions allows for ever-growing use of competitive advantage of ES-SYSTEM in
the realization of unique lighting projects.
Exemplary domestic projects completed by ES-SYSTEM Group in Q4 2015:
•
•
•
•
•
•
•
•
The Panorama of the Battle of Racławice – Wrocław
The National Museum – Szczecin
Sport and rehabilitation Center of the Medical University of Warsaw
Faculty of Chemistry of the Jagiellonian University - Krakow
International Airport Krakow Balice
Railway Station (PKP) – Gliwice
Power Station Opole
Office building Royal Wilanów – Warsaw
EXPORT GROWS THANKS TO MARKETS OF ADVANCED LIGHTING SOLUTIONS
In Q4 2015 the Group recorded the export sales of PLN 9.8 M, i.e. 14.1% decrease yoy. Accumulatively, in 2015 the export
sales reached PLN 33.1 M, i.e. 6.3% increase yoy. The largest increase yoy, in terms of value and percentage, was
recorded on the Arabic, Irish, Swiss and Portuguese markets. The largest export markets in this period were: the Swedish
market with 19.8% share in export sales, the German market with 11.7% share and the Czech market with 8.1% share in
sales.
The Group has diversified its portfolio of orders for the Eastern market and despite the decline in sales in Russia by 48% yoy
in 2015, the sales throughout the Eastern region decreased by only 11%, due to significant increases in the Baltic 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 – Rafał Gawrylak, Wiceprezes Zarządu – Mirosław Butryn, Wiceprezes Zarządu – Waldemar Pilch
-1-1-
(Latvia 42%, Estonia 16%, and Lithuania 13%). ES-SYSTEM managed to reverse the downward trend in sales in Ukraine,
where was recorded an increase by 6% yoy.
In Q4 2015 the sales of LED solutions increased by 53% yoy. In the period from January to December 2015 the LED lighting
in exports constituted 57.4% of the total sales in comparison with 31.5% in the whole 2014. The increase rate was 94.4%
yoy.
Exemplary export projects of the ES-SYSTEM Group in Q4 2015:
• Airport Zagreb - Croatia
• Chișinău International Airport - Moldova
• Office building of the cement mill CRH in Dublin - Ireland
• Vindhjulet office building Orebro - Sweden
• Ski slopes Lindvallen Salen and Källviksbacken Falun - Sweden
SURGE IN PROFITS AND PROFITABILITY
In Q4 2015 the EBIT increased to PLN 2.9 M, i.e. 20% yoy. Accumulatively in 2015 the Group recorded a sharp increase in
operating profit by 45% yoy to PLN 9.9 M. The EBIT margin was 5.4% compared to 4% in the same period of the last year.
The Group closed 2015 the year with a net profit of PLN 8.4 M, i.e. 36% increase in comparison with 2014.
Operating costs throughout 2015 were higher by PLN 2.3 M, i.e. 4% more than the year before, which derived from the
increase in costs associated with employee benefits at ES-SYSTEM S.A. In the subsidiaries costs decreased by PLN 1.1 M,
resulting mainly from the reduction of general and administrative expenses. The general and administrative expenses in the
Group amounted to PLN 21.2 M, which represents a decrease by PLN 0.4 M, i.e. 2% yoy.
PROSPECTS FOR THE YEAR 2016
In 2016, the company expects further growth on the domestic market in the current business segments, i.e. in the
architectural, industrial and outdoor segments, mainly based on LED solutions. Work will be continued in the field of
acquisition of new customers in segments with potential for growth in sales, such as: industry, education, health, housing,
commercial buildings. In order to increase sales new competitive products tailored to market expectations will be introduced
in these segments.
The Management Board is planning further international expansion and the development of sales on selected export
markets with high growth potential. Basing on completed projects, the Management Board believes that it has a good
starting position in the following markets: the Middle East, Germany, Switzerland and France. Building a position in the
export markets will be implemented basing on the development of business contacts, participation in selected industry
events and strengthening the network of sales representatives.
Considering the development potential of the industry, the Management Board hopes to achieve in 2016 at least single-digit
sales growth in the domestic and the export markets. On foreign markets the company expects dynamic growth, but the final
scale of the improvement will depend on the projects’ portfolio that are planned to be completed this year. The company’s
profits derive from the product structure of the portfolio of completed projects and the economic situation in the industry.
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 construction: general, architectural,
residential, industrial, specialist and exterior. The Company forms a specialist Capital Group with its own production plants. The Group determines the directions
for the lighting branch’s development in the areas of innovative technological solutions, energy saving and design. The development strategy of the Group
assumes strengthening the position of the national leader in the sector and the dynamic increase in export sales on the EU market and in other highly
developed countries. In 2015 ES-SYSTEM celebrated its 25th anniversary.
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 – Rafał Gawrylak, Wiceprezes Zarządu – Mirosław Butryn, Wiceprezes Zarządu – Waldemar Pilch
-2-2-