Locked content Electricity consumption up 3.1% in August – PSE

In August electricity consumption in Poland grew by 3.1 percent y/y to 14.0 TWh, according to the national grid operator Polskie Sieci Elektroenergetyczne (PSE). In the 8-month period, electricity consumption increased by 2.25 percent versus a year ago to 113.0 TWh. Electricity production in August ...

Locked content Auto Partner plans opening 5 branches in Poland in 2018

Car parts distributor Auto Partner plans to open five branches in Poland this year and 10 branches in 2019, board member Piotr Janta said. He added that in 2019 the company may take further steps to develop abroad. So far this year Auto Partner opened three branches in Poland expanding its network t...

Locked content Soho Development plans share buyback for PLN 24 mln

WSE-listed investor Soho Development wants to buy back 7.3 million own shares at a price PLN 3.27 per share. In total, the company plans to spend PLN 24 million. Soho Development plans to finance the acquisition of shares with funds from completed development projects, including SOHO Verbel and Soho...

Locked content TFI assets inch down in August

The assets of Polish investment funds (TFIs) shrunk by 0.1 percent month-on-month to PLN 281.3 billion in August, according to Analizy Online and IZFiA.  Assets of cash and money funds continue to show the highest growth (1.5 percent m/m). The continuous growth of this low-risk assets should soon br...

Locked content Eques Investment TFI put on the alert list by KNF

The Financial Supervision Authority has placed the asset manager Eques Investment TFI on an alert list. The move follows KNF’s notification to the regional prosecutor’s office in Warsaw about the alleged violation of the bill on public offer and terms of introducing financial instruments...

Locked content Newag with PLN 16 mln Q2 net profit

WSE-listed rolling stock producer Newag had a PLN 15.9 million net profit in Q2, up from PLN 10.5 million loss last year, the company said in a report. Operating profit amounted to PLN 24.47 million compared to PLN 11.06 million loss a year earlier. Revenues from sales stood at PLN 255.68 million co...

Locked content Amica hopes to finalize talks with Fagor this year

WSE-listed white goods producer Amica is in advanced talks on obtaining rights to use the Fagor brand and expects that the negotiations will be concluded this year, the company’s Vice President Wojciech Kocikowski said. He added that Amica has at least one or two competitors who also want to obtain ...

Locked content Ciech CEO resigns

The CEO of WSE-listed chemical firm Ciech, Maciej Tybura resigned from his post citing personal reasons, the company said in a market filing. Supervisory board member Dawid Jakubowicz was named as interim CEO for the next three months, while Ciech will be looking for a permanent replacement. Ciech a...

Locked content Santander rebranding to cost PLN 60-70 mln

According to the CEO of WSE-listed Santander Bank Polska, Michał Gajewski, its rebranding (from BZ WBK) will cost the lender PLN 60-70 million over the course of two years. The bank has completed its rebranding over last weekend and moved its registered HQ to Warsaw. ”Santander made the decision to ...