Locked content Paul Ryan to visit Warsaw on Friday

US House of Representatives Speaker Paul Ryan, will visit Warsaw on Friday and meet with President Andrzej Duda, and PM Beata Szydło. The talks will focus on transatlantic cooperation, and the visa waiver program, which Poland has been trying to be a part of for years. According to Duda advisor Krzy...

Locked content Żywiec with PLN 27.9 mln net profit in Q1

WSE-listed beer producer Żywiec, subsidiary of Heineken, had a PLN 27.91 million net profit in Q1, down by 53 percent y/y. Revenues amounted to PLN 429.38 million, down by 13 percent. “Lower sales and revenue, were due to overall market decrease, and one-off events such as Easter falling on March in...

Locked content Energa with PLN 601 mln EBITDA in Q1 – preliminary results

WSE-listed utility Energa expects a PLN 601 million EBITDA in Q1, according to the company’s preliminary results. The result, which is a 6.8 percent y/y drop will be influenced by the PLN 53 mln valuation of options for builder Polimex Mostostal shares, the company said in a market filing. Sta...

Poland seeks billions in tax revenue

The Ministry of Finance, plans to increase tax revenue collection by PLN 8 billion in 2018, PLN 6 billion in 2019, and PLN 4 billion in 2020, according to the deputy finance minister Leszek Skiba. The updated forecasts were included in the latest draft of the convergence program. For this year, the ...

Locked content Raiffeisen to write-down PLN 114 mln from Polbank brand

Raiffeisen Bank Polska will write-down PLN 114 million of Polbank brand and goodwill. As a result, the bank will take a PLN 92.3 million hit on its Q1 results. This is not the first time the lender has taken a hit on its financial results from the Polbank brand. For its 2016 results, Raiffeisen suff...

Locked content Poland marks 74th anniversary of the Warsaw Ghetto Uprising

Polish and Jewish representatives, including Polish PM Beata Szydło attended commemorations at the site of the former Warsaw Ghetto on the 74th anniversary of the Warsaw Ghetto uprising. Across the city people also pinned small yellow paper daffodils to their clothes in a symbolic gesture of remembr...
Image: poczta-polska.pl

Poczta Polska nixes IPO plans

State-owned postal operator Poczta Polska has decided against its earlier IPO plans, according to its latest strategy plan. “We do not see the necessity to be listed. The regulations regarding such companies can limit the possibilities to accomplish set goals, as you have to take into consideration ...

IMF revises GDP forecasts for Poland

The International Monetary Fund has raised its GDP forecast for Poland to 3.4 percent in 2017, from the previous 3.3 percent. For 2018, the IMF predicts a 3.2 percent growth, down from the previous 3.3 percent figure.

Locked content The Dust mulls NewConnect IPO in Q3

Mobile game producer The Dust, part of the Tech Invest Group portfolio is planning an IPO on the small cap alternative NewConnect market by Q3 “at the latest,” the company said in a market filing. “The company is developing very dynamic, which in turn has increased our financial results. In Q1 this ...