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...

Locked content Arctic Paper with Q2 loss

WSE-listed paper producer Arctic Paper had PLN 4.07 million net profit in Q2, down from PLN 5.39 million the year before. EBIT stood at PLN 45.45 million compared with PLN 37.59 last year, while EBITDA grew to PLN 66.77 million from PLN 64.56 million. Revenues increased to PLN 792.43 million from PL...

Locked content Majority of Ukrainians in Poland mulls moving somewhere else

As many as 60.2 percent of Ukrainians working in Poland is considering working in a country other than Poland and Ukraine, according to the latest report by HR consultancy EWL. Most of them (27 percent) is considering Germany as their work destination. “Despite the huge popularity of Poland, most of...

Locked content R22 buys Romanian firm. Plans 30% market share on the local market

WSE-listed IT firm IT acquired Romanian Gazduire Web for €1.1 million and plans to reach 30 percent share of the local market, the company’s CEO Jakub Dwernicki said. “We chose the Romanian market as it is a very growing market. It’s easy to predict what will happen on the local hosting market...

Locked content FTSE names all Polish companies included in their indices

The FTSE Developed Index announced the list of 37 Polish companies that will be joining it on September 24. PKO BP will be the only Polish company included in the large-cap index, with PKN Orlen, Lotos, PGE, PGNiG, KGHM, Pekao, PZU, BZ WBK, mBank, LPP, Dino Polska, CD Projekt and Cyfrowy Polsat bein...

Locked content Pilab to move to WSE main market

Listed on the small-cap, alternative NewConnect market, IT firm Pilab, filed a motion to the Financial Supervision Authority KNF to issue up to 1.35 million new shares, with the exclusion of pre-emptive rights and transfer of quotations to the regulated market of the WSE. On August 6, EGM of Pilab a...

FinMin: Next year’s budget deficit at PLN 28.5 bln

The budget deficit planned for 2019 is PLN 28.5 billion, said the Minister of Finance Teresa Czerwińska in an interview with TVP Info. She added that this year’s deficit may be implemented in 60-70 percent. “We have planned a deficit of PLN 41.5 billion this year and there are many indications that ...