Locked content Automotive exports to grow by 4-5% in 2018

Polish automotive exports could grow by 4-5 percent y/y to €26.2-26.5 billion in 2018 AutomotiveSuppliers.pl forecasts. In January, the exports amounted to €2 billion which was a 0.7 percent y/y increase. “AutomotiveSuppliers.pl lowers the earlier export forecast for the whole of 2018. Despite the l...

NBP: loans and mortgages up in March

The value of consumer credits edged up by 0.8 percent or PLN 1.34 billion in March month-on-month and reached PLN 177.5 billion, Poland’s Central Bank (NBP) announced.

Locked content Leasing market up by 21% y/y in Q1

The value of the leasing market increased in Poland by 20.09 percent y/y to reach PLN 18.6 billion after the first quarter, the Polish Leasing Association ZPL stated. According to the report, financing of passenger and delivery vehicles up to 3.5 tons constituted 46.5 percent of the market structure...

Locked content Orange with PLN 50 mln Q1 net loss

WSE-listed telecom Orange Polska had a PLN 50 million Q1 net loss, according to the new MSSF15 (IFRS15) accounting standard. Within the previously used MSFF18 standard, Orange had PLN 8 million profit compared to PLN 39 million profit last year. “The evolution of business trends has been presented i...

Locked content CCC buys Romanian Shoe Express for €33 mln

WSE-listed footwear retailer CCC will buy 100 percent stake in Romanian peer Shoe Express for €33 million. The transaction will be conducted through CCC’ subsidiary CCC Shoes & Bags. Shoe Express owned all local CCC-brand stores after purchasing them from Peeraj Brands International. The price w...

Locked content Śnieżka with PLN 55.8 mln 2017 net profit

WSE-listed paint producer Śnieżka had PLN 55.89 million consolidated net profit in 2017, up from PLN 53.09 million profit in 2016, the company said in a market filing. Revenues from sales amounted to PLN 567 million, down from PLN 575.6 million in the previous year. Gross margin stood at 39.8 percen...

Locked content KNF approves PZU OFE takeover of Pekao OFE

Financial Supervision Authority KNF approved the takeover of the Pekao OFE pension fund by its peer OFE PZU Złota Jesień. As a result of this decision, Pekao OFE will be dissolved and its assets transferred by October 12. The decision follows PZU takeover of lender Pekao BP. Polish law forbids one e...

Locked content Idea Bank’s management calms investors after recent stock plunges

The management of WSE-listed Idea Bank issued a statement in which it reiterated that the lender is in stable condition and recent stock declines have “no fundamental grounds.” “There are no fundamental grounds justifying the recent stock price fluctuations. The bank’s situation is stable,” th...