Echo sells Wrocław offices for €74.5 mln

Warsaw Stock Exchange-listed developer Echo Investment has recently finalized the sale of the Sagittarius Business House office building in Wrocław to Warburg-HIH Invest Real Estate for €74.5 million. The companies signed a preliminary agreement regarding the sale of the property in July last year. ...

Budimex with Kielce bus station contract

Warsaw Stock Exchange-listed construction company Budimex has signed an agreement with the public transport authorities in Kielce for the remodeling, extension and modernization of the city’s bus station. The value of the contract amounts to more than PLN 68.7 million. The existing bus station, whic...

Locked content Deputy PM: Poland might ignore ECJ ruling on justice reform

According to Deputy PM Jarosław Gowin if the European Court of Justice rules against the Polish government’s attempt to overhaul judiciary, Warsaw “will probably have no choice and ignore the ruling of the [court] as contrary to the Lisbon treaty and the whole spirit of European integration.” On Mon...

Locked content Ten Square Games with PLN 12.5 mln H1 net profit

WSE-listed video game developer Ten Square Games had a PLN 12.53 million net profit in H1, up from PLN 2.98 million profit a year earlier, the company said. “The increase in cash flows from operating activities (+ 332%) is a direct translation of good financial results, The Group’s investment ...

Locked content Indata declared bankrupt

Warsaw District Court has declared the WSE-listed IT company Indata bankrupt. The creditors now have 30 days to submit their claims (if they were not disclosed in the proper registry). Among the company’s debt are two series of bonds issued late last year worth PLN 1 million each. Indata is a holdin...

Locked content Domika Kulczyk launches tender for remaining stake in Polenergia

The majority shareholder of WSE-listed renewables’ firm Polenergia, Dominika Kulczyk launched a tender offer for the remaining 22.63 million shares (49.8 percent stake) at PLN 20.5 apiece. Kulczyk, who controls 50.2 percent of the company plans to delist the company from the Warsaw Stock Exchange. S...

Locked content JSW Q2 profit falls, but beats expectations

WSE-listed coal producer JSW reported PLN 324.1 million net profit in Q2, down by 42.8 percent y/y, but 23.5 percent above the market consensus. Operational profit came in at PLN 446 million, down by 35.9 percent while EBITDA stood at PLN 631.3 million, versus PLN 912.3 million a year earlier. JSW’s...

Locked content Tauron CEO warns that CO2 emission prices are ‘counterproductive’

According to Filip Grzegorczyk, CEO of Tauron, the EU policy to increase CO2 emission rights prices, seen as a way of achieving lower emission goals may be counterproductive and negatively affect companies that are yet to make the transformation to produce more green energy. “The price of CO2 is an ...

Locked content Polimex-Mostostal with PLN 21 mln H1 loss

WSE-listed builder Polimex-Mostostal posted a PLN 20.93 million net loss in H1, compared with PLN 34.7 million profit a year earlier.  Revenues in the first six months dropped to PLN 810 million compared to PLN 1.13 billion last year. The company blamed the loss in revenue on its projects in the ene...

Locked content GetBack shareholders want the company to continue

The Ordinary General Meeting of troubled WSE-listed debt collector GetBack decided on Monday in favor of continuing the company’s activities. At the same time, it did not grant a vote of approval to the former CEO and members of the management board. It includes Konrad Kąkolewski who was dismissed a...