Locked content Unimot prelim. Q2 EBITDA loss at PLN 8.3 mln

Fuel trader Unimot preliminary revenue in Q2 rose to PLN 843.8 million from PLN 758.2 million a year ago. EBITDA turned to a loss of PLN 8.3 million versus positive EBITDA of PLN 7.6 million in Q2 2017. EBITDA result was negatively affected by an unfavorable situation on the LPG market – lack ...

Locked content Portuguese watchdog approves Stemlab acquisition

The Portuguese Office of Competition Protection (Autoridade da Concorrencia) gave consent to the acquisition of Stemlab by Polski Bank Komórek Macierzystych (PBKM), PBKM said on Friday. In mid-July, PBKM announced the acquisition of majority stake in the Portuguese Stemlab for €16.5 million (around ...

Locked content Poland lacks about 20,000 elderly care positions

There are not enough caretakers of the elderly in Poland – around 20,000 are missing – and this problem will grow every year due to the rapid aging of the population, experts say. According to forecasts by the Ministry of Family, Labour and Social Policy (MRPiPS), the number of people ag...

Locked content Polnord dismisses Dariusz Krawczyk as CEO

Dariusz Krawczyk was dismissed as Polnord’s Chief Executive Officer on Friday, the company declared in a statement. Marcin Mosz was chosen by the supervisory board as acting CEO for a period of up to three months. Piotr Woźniak was appointed to the management board also for no longer than thre...

Locked content PiS at 36% and PO with 26% support – Kantar Public poll

According to the latest poll conducted by Kantar Public, if elections took place now, 36 percent of Poles would vote for ruling Law and Justice (PiS), while 26 percent would vote for Civic Platform (PO). PiS support grew by two percentage points compared with last month, while PO’s support wen...

Locked content Stelmet prelim. 9-month net profit at PLN 16.4 mln

Garden furniture producer Stelmet reported preliminary revenue for 9 months of FY 2017/2018 at PLN 434.3 million, a 2.3 percent increase y/y. EBITDA rose by 17.4 percent to PLN 56.4 million, and net profit dropped by 30.8 percent to PLN 16.4 million. EBITDA margin grew to 13 percent from 11.3 percen...

Locked content Write-downs and reserves will affect Idea Bank results

Idea Bank made write-downs for a total of PLN 190 million and created reserves for PLN 128 million that will affect the bank’s Q2 results. After these corrections Idea Bank’s solvency ratios will temporarily go below the levels indicated by the Polish Financial Supervision Authority KNF,...

Locked content Pharmacy market up 7.1% y/y in July – PEX PharmaSequence

In July sales in the pharmacy market in Poland amounted to over PLN 2.7 billion, up 7.1 percent versus a year ago and down 2.9 percent compared to June, a report prepared by PEX PharmaSequence stated. An average pharmacy turnover in July was PLN 182,000, an 8 percent increase versus July 2017. PEX P...

Locked content Bankruptcies in July down 15.5% – KUKE

In July 49 companies went bankrupt, 15.5 percent less versus a year ago, Export Credit Insurance Corporation (KUKE) reported. On a monthly basis, the number of bankruptcies in July fell by 18.3 percent from 60 bankruptcies in June. Assuming economic growth rate of 4.4 percent in 2018 and net turnove...

Locked content Salaries up 7.2% in July – GUS

The average gross salary in July amounted to PLN 4,825, 7.2 percent more versus a year ago,  Polish Central Statistical Office (GUS) reported. Employment grew by 3.5 percent y/y. The wage growth in July was below Bank Pekao analysts’ forecast of 7.6 percent and declined compared to 7.5 percent...