Locked content EU: Poland breached air pollution standards

The EU’s Court of Justice ruled that Poland between 2007 and 2015 failed to meet the bloc’s air quality norms. “The fact of exceeding the limit values for PM10 [particulate matter] concentrations in the ambient air is sufficient in itself to establish a failure to fulfill obligations,” ECJ said. EU ...

Locked content TFI’s profit up to PLN 683.5 mln in 2017

The Financial Supervision Authority (KNF) reported that the net profits of Investment Funds (TFI) totaled PLN 683.58 million in 2017, up by 37.1 percent y/y. The value of assets under management amounted to PLN 380.6 billion at the end-2017, whereas last year it stood at over PLN 354 billion. Revenu...

Locked content Tarczyński raises tender price again

The main shareholders of WSE-listed meat processor Tarczyński, Elżbieta and Jacek Tarczyński raised the price offered for the company’s shares yet again. This time to PLN 14 apiece from the previous PLN 12.6. The initial price was set at PLN 10.5. Tarczyńscy through its subsidiary EJT Investment wan...

Locked content KNF: brokerages’ net profit up by 12.2% in 2017

Polish Financial Supervision Authority (KNF) reported that net profits of brokerage houses amounted to PLN 222.09 million in 2017, whereas it stood at PLN 197.88 million in the corresponding period last year. The gross profit of brokerages totaled PLN 271.33, up from PLN 249.29 million in 2016. Oper...

Locked content CEZ to sell its Bulgarian assets

WSE-listed energy utility CEZ will sell its Bulgarian assets to Intercom Bulgaria, the company said in a market filing. The deal includes seven companies: CEZ Bulgaria, CEZ Elektro Bulgaria, CEZ Razpredelenie, CEZ Trade Bulgaria, CEZ ICT Bulgaria, Free Energy Project Oreshetz, and Bara Group. Accord...

Locked content Poland to spend PLN 10 bln to fight air pollution

The Ministry of the Environment will spend over PLN 10 billion on measures to improve air quality by 2020, the ministry said. “Poland is consistently working to improve air quality, however, long-term negligence in this area means that these activities require time and cooperation at the level of go...

Locked content Anwil dismisses CEO

Chemical firm Anwil, a unit of WSE-listed fuel giant Orlen dismissed its CEO Jacek Podgórski. Two management board members, CFO Waldemar Gabruś and Sales Director Mirosław Kwiatkowski were also dismissed. The company named Dariusz Ciesielski as acting CEO. Anwil did not give the reason for the perso...

Locked content T-Mobile Q4 EBITDA drops

Telecom operator T-Mobile Polska had a PLN 450 million EBITDA in Q4, a 24.9 percent y/y decline. The result was affected by the abolition of the roaming fees across the EU, without it, the Q4 EBITDA would be down by 17.6 percent y/y. T-Mobile revenue amounted to PLN 1.66 billion in Q4, and PLN 6.42&...

Locked content BGK to finance €80 mln Rafako’s Indonesian project

State-owned Bank Gospodarstwa Krajowego will loan €80.8 million to Indonesian company PT Perusahaan Listrik Negara (Persero). The credit will be used to finance the construction of a power plant on the Indonesian island of Lombok which will be built by WSE-listed builder Rafako. The contract include...