A taste of things to come
The company managed to close 2004 with zł.12.4 million in net profit, a 94 percent rise on 2003's figures. Revenues rose as well and reached zł.340 million. The president of the board, Wiesław Skrobowski, claims the spectacular gains were achieved thanks to zł.3.7 million in operational cost cutbacks and the incorporation of a previously outsourced distribution network. "All along, we were able to sustain the level of employment," he added.
The company's boosted earnings will come in handy, together with its IPO funds, as it revealed ambitious acquisition plans. Polmos Białystok, Poland's second-largest vodka producer, will probably debut on the Warsaw Stock Exchange within two months. Its competitor from Lublin, which derives from the same, now nonexistent, state-owned alcohol monopoly, is interested in acquiring a significant share of the stock. The fact that by then the company would be listed already could ease the acquisition process.
Polmos Lublin is focusing on its main product, Żołądkowa Gorzka, but has developed a new brand in the unflavored vodka category and is considering entering the ready-to-drink market. Overall, marketing expenditures are planned to reach an all-time high, with international expansion on the cards.
"We reported double-digit sales growth in Germany, and are looking for a partner in the U.S.," says Sylwester Maćkowiak, a member of the board. So far, Polish high-volume alcohols tended to follow Polish emigrants, with a few luxury brands also enjoying popularity. However, Żołądkowa wants to conquer the mid-shelf market.
For now, the industry will concentrate mainly on a closer neighborhood. Central and Eastern Europe accounts for 80 percent of total vodka sales worldwide, claim company CEOs. Demand in Poland places it third in the region, after Russia and Ukraine. This vodka market, estimated at zł.7 billion in Poland alone, is something Polmos cannot afford to give up on.
The company's boosted earnings will come in handy, together with its IPO funds, as it revealed ambitious acquisition plans. Polmos Białystok, Poland's second-largest vodka producer, will probably debut on the Warsaw Stock Exchange within two months. Its competitor from Lublin, which derives from the same, now nonexistent, state-owned alcohol monopoly, is interested in acquiring a significant share of the stock. The fact that by then the company would be listed already could ease the acquisition process.
Polmos Lublin is focusing on its main product, Żołądkowa Gorzka, but has developed a new brand in the unflavored vodka category and is considering entering the ready-to-drink market. Overall, marketing expenditures are planned to reach an all-time high, with international expansion on the cards.
"We reported double-digit sales growth in Germany, and are looking for a partner in the U.S.," says Sylwester Maćkowiak, a member of the board. So far, Polish high-volume alcohols tended to follow Polish emigrants, with a few luxury brands also enjoying popularity. However, Żołądkowa wants to conquer the mid-shelf market.
For now, the industry will concentrate mainly on a closer neighborhood. Central and Eastern Europe accounts for 80 percent of total vodka sales worldwide, claim company CEOs. Demand in Poland places it third in the region, after Russia and Ukraine. This vodka market, estimated at zł.7 billion in Poland alone, is something Polmos cannot afford to give up on.
