Locked content Azoty with PLN 375.2 mln preliminary net profit

WSE-listed chemicals group Azoty had PLN 375.2 million net profit and PLN 1 billion EBITDA, according to the company’s preliminary financial results. Revenues stood at PLN 8.96 billion. For Q4, Azoty had PLN 29.4 million profit and PLN 2.32 billion in revenues. The estimates are in line with consens...

Locked content Poland to focus on tax fraud at G20 summit

Poland wants to discuss the issue of tax havens at the G20 summit this week, Deputy PM Mateusz Morawiecki said in an interview with Polish Radio. “We want medium-sized countries as well as smaller countries, which we represent, not to be avoided for tax.” “Bermuda has the third-highest number of EU ...

Locked content Polish cities hosting US troops under cyber attacks

Websites of several Polish cities that have hosted US troops during recent NATO operations were hacked, Deputy Defense Minister Tomasz Szatkowski said. “We are constantly seeing large destructive cyber and information activity by certain countries. The process has been intensifying.” he said. Accord...

Locked content Poland approves plans to build central hub airport

Polish government have recommended building a new centrally located hub airport. The facility would be situated between Warsaw and Łódź, and is expected to cost PLN 20-30 billion and would service some 50 million passengers per year. The airport should be operational “within a decade from now,” acco...

Locked content Griffin Premium to float up to 74% of stock

Real estate company Griffin Premium will sell between 51,2-74,3 percent of its shares into free float, including up to 22.2 million new shares and up to 59.1 million existing ones. Depending on the offering results, the value of the transaction will be between PLN 562-736 million. The maximum share ...

Locked content PGG/KHW merger deadline in danger

The merger deal which would integrate two state-owned coal miners Polska Grupa Górnicza (PGG) and Katowicki Holding Węglowy (KHW) is facing a number of challenges, but the energy ministry sticks to the end-March deadline for now. “These are tough matters, the integration of PGG and KHW is complicate...

Locked content Polish banking sector ‘exemplary’ – NBP head

Poland’s banking sector stability is exemplary, the situation of the sector is good and FX mortgages do not pose a risk for sector stability, Poland’s Central Bank (NBP) head Adam Glapiński said. “We have a very good banking system and a very high level of professionalism of bank managem...

Locked content Raiffeisen Polbank 2016 profit inches up, plans IPO

Raiffeisen Polbank, the Polish banking unit of Austrian Raiffeisen Bank International, had a PLN 162.8 million net profit in 2016 slightly up by 1.7 percent y/y . The figure was boosted by the sale of its leasing unit to the parent company and revenue from the sale of VISA Europe. On the other hand,...

Locked content WSE appoints Jarosław Grzywiński as acting CEO

Warsaw Stock Exchange supervisory board delegated its member Jarosław Grzywiński to the post of acting CEO of the firm, for the period of three months, the company said in a market filing. His predecessor, Małgorzata Zaleska was dismissed from her post in January, but that decision was approved by t...

Locked content PHN real estate with Q4 net loss

WSE-listed, state-owned real estate devoloper Polski Holding Nieruchomości (PHN) had a PLN 13.4 million loss in Q4, up from PLN 16.6 million loss y/y. For the 2016, net profit stood at PLN 30.8 million, down from PLN 49.1 million the year before. Revenues stood at PLN 175.4 million in 2016 (up from ...