BOT's 2004 profit soars 42% to zł.249 million

In 2005 the holding will carry out an in-depth restructuring of its employment, which will cost the company as much as a few hundred million złoty. "Out of 23,000 employees, only 40% are related to generating electricity," said Zbigniew Bicki, president of the energy holding. The restructuring process will facilitate the successful debut of the company on the bourse between 2006 and 2007. One of the major planks of the restructuring program envisages spinning off the company's service units. BOT expects that it will enter a new market segment - distribution of energy as, "If we don't begin vertical consolidation it will most probably affect the value of the company and worsen our credit standing," said Bicki. (Parkiet, p. 6) M.M.