Locked content Fuel prices continue to drop

Average fuel, diesel, and LPG prices decreased by PLN 0.02 last week, according to BM Reflex, a fuel branch consultancy company. Currently, gasoline sells at PLN 4.67/liter, diesel at PLN 4.57/liter and LPG at PLN 2.09. This week should see more price drops. “The forecasts regarding price changes fo...

Locked content GetBack with PLN 300 mln deal on financing

WSE-listed debt collector GetBack signed a term sheet with an unnamed foreign bank for up to PLN 300 million in 4-year variable rate financing and expects to sign the relevant credit agreements within 8 weeks, GetBack said in a market filing. “The term-sheet contains detailed requirements regarding ...

Locked content PHN with UOKiK approval regarding takeover

WSE-listed developer Polski Holding Nieruchomości PHN received a green light from the antitrust watchdog UOKiK regarding the takeover of a general contracting firm. The name of the company was not disclosed, but PHN filed a motion to acquire Korporacja Budowlana Doraco back in December. “The company...

Locked content Inter Cars sales reach PLN 531 mln in January

WSE-listed automotive spare parts distributor Inter Cars have increased their sales by 15.6 percent year-on-year in January to PLN 531 million, the company said in a market filing. Sales by the parent company, Inter Cars, grew by 8 percent y/y to PLN 383 million. Revenue from sales in Poland rose by...

Locked content JSW on talks with Prairie Mining – ‘very initial’

State-run, WSE-listed coal miner JSW commented on the recent talks with another listed peer Prairie Mining calling them “very initial, a sounding out,” CFO Robert Ostrowski said. “This is not a stage of concrete talks with confirming of the will on both parts, it is more about sounding out intents,”...

Locked content PGZ dismisses board, CEO

State-owned arms producer Polska Grupa Zbrojeniowa dismissed its CEO and three of its board members, the company said in a market filing. CEO Błażej Wojnicz, along with board members Konstancja Puławska, Piotr Sulewski, and Karol Tatara were dismissed. Jakub Skiba was appointed acting CEO, with Bogd...

Salaries up by 3.4% in 2017 – GUS

Average remuneration increased by 3.4 percent year-on-year in 2017 to reach PLN 4,271.51 before tax, according to statistic office GUS data. Last year, the growth reached 4.2 percent with the average monthly salary at PLN 4,047.21.

Locked content Orlen and Lotos to be merged?

According to the Deputy Minister of Energy Grzegorz Tobiszewski, “something is going on” in regards to merging state-controlled, WSE-listed fuel giants Lotos and Orlen. “This is a very important decision and I leave [the matter] to my ministry colleagues who are involved in this,” Tobiszowski said. ...

Locked content OFE assets grow in January

Net assets under management of open pension funds (OFE) totaled PLN 183 billion at the end-January, up by 2.6 percent m/m, the Financial Supervision Authority KNF reported. The three biggest funds in terms of net assets (out of 11 currently operating) are: Nationale-Nederlanden OFE (PLN 45.9 billion...