Locked content Morawiecki to reduce number of deputies

PM Mateusz Morawiecki said that he plans to reduce the number of deputy ministers in his cabinet. Currently, Poland has the most such positions in the EU, with the headcount surpassing 100, the highest-ever. “I am now reviewing the deputy ministerial positions. In the next few weeks, I will present ...

Locked content Orlen to takeover Lotos

The Treasury plans to merge two WSE-listed, state-controlled fuel giants Orlen and Lotos, as the former company signed a letter of intent with the Polish state to take over a minimum of 53 percent stake Lotos. The deal is expected to be completed within a year and would be conducted via public share...

Locked content Monnari plans to improve margins, expand retail space

WSE-listed fashion retailer Monnari hopes to improve its margins for this year, after increasing gross sales margin to 55.4 percent in 2017 (from 54.5 percent in 2016), the company’s CEO Mirosław Misztal said. The company also plans to expand its retail space by 5-7 percent y/y this year. Monnari ha...

Locked content AmRest to invest €6 mln in Russian bakeries

WSE-listed restaurant operator AmRest signed a cooperation agreement with LPQ Russia regarding the development of a restaurant activity in the bakery segment on the Russian market, the company said in a market filing. AmRest will invest €6 million in the venture and will become the majority sharehol...

Locked content Play with PLN 143 mln Q4 net profit

WSE-listed telecom operator Play Communications recorded a consolidated net profit of PLN 142.9 million in Q4 vs. PLN 149.5  million profit a year earlier. Operating profit was slightly down to PLN 360.2 million vs. PLN 360.8 million a year earlier. Adjusted EBITDA increased by 1.6 percent y/y to PL...

Locked content Beer sales drop

The beer market recorded a drop in sales, by 2.4 percent y/y in volume and by 1.3 percent in value last year according to the Nielsen study. “Consumers bought less beer, but were willing to spend more on it, hence the drop in sales value was smaller than the decrease in its volume,” said Agata…...

Locked content Apator with PLN 56 mln Capex for 2018

WSE-listed metering solutions provider Apator will spend PLN 56 million in 2018 investing in new products. The company also expects lower revenue for this year after tweaking its strategy. “We’ve made the decision that it is better to sell less, but with a higher margin, we are planning to assemble ...

Locked content Erbud to acquire German IVT Weiner + Reimann

WSE-listed builder Erbud signed a conditional €8.5 million deal to takeover German IVT Weiner + Reimann, the company said in a market filing. ”Another foreign company in Erbud’s structures will enable to increase profitability and also increase the share of revenues generated outside of Poland...