Locked content CD Projekt Q1 net profits on the rise

WSE-listed game producer CD Projekt had PLN 45.26 million consolidated net profit in Q1, representing a 39 percent increase y/y. Operating profit amounted to PLN 53.84 million (39.5 percent y/y growth), while revenues stood at PLN 99.3 million (14.2 percent y/y growth). The Group’s investment in the...

Locked content PGNiG with PLN 1.6 bln Q1 net profit

WSE-listed gas giant PGNiG had PLN 1.59 billion consolidated net profit in Q1, up by 15.4 percent y/y. Revenues increased by 6.1 percent to PLN 11.65 billion, while EBITDA amounted to PLN 2.76 billion, up by 15.7 percent. The core segment of gas trade and storage generated PLN 358 million EBITDA, do...

Locked content Chinese tires producer mulls factory in Poland

Shandong Linglong Tyre plans to build €500 million factory in one of the CEE countries, with Poland on the shortlist for possible location, Reuters reported. The company will decide between Slovakia, Czechia, Hungary and Poland and will make a decision within three months. The plant, expected to emp...

Locked content BGK to launch social housing financing platform with EIB

State-owned lender BGK signed a deal with the European Investment Bank to launch an investment platform supporting social and affordable housing projects. By 2021 it will support projects worth PLN 2.1 billion. “Poland needs significant investment in social and affordable housing in the coming years...

Locked content Poland to spend PLN 50 bln on energy transformation – Tchórzewski

According to energy minister Krzysztof Tchórzewski, Poland will have to spend some PLN 50 million in the next 20 years to adapt its energy facilities to meet EU standards. “The European Commission, in its efforts to curb CO2 emissions, proposes solutions that would cost us PLN 150-200 billion. I thi...

Tax revenues up by 21% at end-April – FinMin

During the first four months of the year, Polish treasury received PLN 109.22 billion in taxes, up by 21 percent y/y. This amount represents 36 percent of the annual plan, the finance ministry informed. The revenue from VAT increased by 33.8 percent y/y, while the CIT and PIT taxes revenue increased...

Locked content Activists protest against logging in Białowieża

Environmental campaigners chained themselves to equipment in ancient Bialowieża Forest in protest against the government-backed lodging in the UNESCO World Heritage site. “Foresters have crossed a red line, they are devastating Poland’s biggest natural treasure for the sake of profits. We will...

Locked content JSW Q1 net profit beats expectations

WSE-listed coal miner JSW had PLN 864.5 million Q1 net profit, beating the PLN 763 million expected by analysts polled by the Polish Press Agency (PAP). In the corresponding period last year, the company posted PLN 59.8 million loss. Revenues amounted to PLN 2.37 billion, up by 69.4 percent y/y, whi...

Locked content Duda: Referendum on constitution to be held on November 11 next year

President Andrzej Duda announced that he will ask the Senate to organize the referendum “aimed to decide on the foundation of our future constitution” on the next year’s Independence Day (November 11). The president still did not reveal what kind of questions he wants to ask. Duda announced hi...

Locked content Gov’t adopts bill forcing TV providers to provide customer data

The Polish cabinet adopted a draft bill that, if approved by the parliament, will force pay TV subscribers to collect TV and radio registration from their clients. Such data would be provided to state-owned postal operator Poczta Polska which is responsible for collecting audiovisual fee, which supp...