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Kety metals posts PLN 28-30 mln net profit on PLN 395-400 mln revenues in Q1

TAG'S: KETY, Industrial (other)

Listed metal company Kety generated some PLN 28-30 mln group net profit, PLN 43-45 mln EBIT, PLN 62-64 mln EBITDA and 395-400 mln revenues in Q1 2014, the company said in a market filing on Tuesday citing preliminary estimates.

 

Kety estimated consolidated EBIT grew by 70% y/y, which the company attributed to margins supported by dynamic recovery on the domestic market and continuous export growth, the filing stated. The net profit estimate translates into a 65-80% annual increase.

The firm estimated PLN 395-400 mln top line would constitute an 18% annual increase, the firm also said.

All of the group segments enjoyed revenue growth in Q1, with the construction services and flexible packaging segments up around 10%, the extruded products segment up 22%, the aluminum systems segment up 25% and the construction accessories segment up around 35%, Kety stated calling Q1 a very favorable quarter for all segments of the capital group.

Net debt at end-March will amount to around PLN 200 mln, Kety estimated.

Net financial position is expected to have amounted to a negative PLN 5 mln in Q1 2014, Kety said.

The estimates were based on the assumption of an average EUR/PLN rate of 4.19, average USD/PLN rate of 3.05 and an average quarterly aluminum price of USD 1750/ton, the filing stated.

2014-03-28



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