Bottom 5 losers in 2004
Prokom Software SA, the country's largest IT integrator, was a source of bad news throughout the year. Prokom supplies mainly to public institutions and, because of delays in key administrative IT contracts, it could not show profit. The company reported zł.11 million consolidated net loss after Q3 2004. Prokom's contract with Poczta Polska will start in the first quarter of 2005, so an improvement of financial results can be expected.
SM-Media, a private telecom company, lost investors' trust after revising its financial prognosis several times. Its share price stands at about a third of its debut value. Q3 consolidated report revealed a zł.578 thousand loss. Analysts point out that over zł.7 million gained from the IPO offer still remains unused on SM-Media's accounts. This follows a delay in signing agreements with telecommunication monopoly TP SA.
Dębica SA, a Polish tire manufacturer, reported a loss in share value in 2004, but this might be regarded as a rebound after rapid growth in 2003. Around 70% of the company's revenue is generated by export sales. Thus, the strong złoty, which boosted company profits in 2003, had the opposite effect over the last 6 months. Dębica reported zł.17 million net profit in Q3 against zł.26 million in 2003. The company is trying return to high profitability by cost cutting.
Emax SA is expected to report a net loss, which by Q3, had reached zł.2.1 million (consolidated). The IT company deals with telecommunication systems integration. Its sale revenues had risen by 30% year on year by September 2004, but despite that has shown no profit. As in the case of Prokom Software, the management believes implementation of key projects in Q4 will allow the company to end the year in the black.
Frantschach Świecie SA, a paper producer 71% owned by Framondi NV, surprised its investors with unsatisfactory results. Its net income for Q3 2004 rose to zł.83.7 million from zł.23 million in 2003. Analysts agree that paper market is expected to revive after a year of decline and its prices are attractive for producers. The reason for the company's falling share value might have been an announcement by the Treasury Ministry of plans to sell the remaining 5% of its shares.
SM-Media, a private telecom company, lost investors' trust after revising its financial prognosis several times. Its share price stands at about a third of its debut value. Q3 consolidated report revealed a zł.578 thousand loss. Analysts point out that over zł.7 million gained from the IPO offer still remains unused on SM-Media's accounts. This follows a delay in signing agreements with telecommunication monopoly TP SA.
Dębica SA, a Polish tire manufacturer, reported a loss in share value in 2004, but this might be regarded as a rebound after rapid growth in 2003. Around 70% of the company's revenue is generated by export sales. Thus, the strong złoty, which boosted company profits in 2003, had the opposite effect over the last 6 months. Dębica reported zł.17 million net profit in Q3 against zł.26 million in 2003. The company is trying return to high profitability by cost cutting.
Emax SA is expected to report a net loss, which by Q3, had reached zł.2.1 million (consolidated). The IT company deals with telecommunication systems integration. Its sale revenues had risen by 30% year on year by September 2004, but despite that has shown no profit. As in the case of Prokom Software, the management believes implementation of key projects in Q4 will allow the company to end the year in the black.
Frantschach Świecie SA, a paper producer 71% owned by Framondi NV, surprised its investors with unsatisfactory results. Its net income for Q3 2004 rose to zł.83.7 million from zł.23 million in 2003. Analysts agree that paper market is expected to revive after a year of decline and its prices are attractive for producers. The reason for the company's falling share value might have been an announcement by the Treasury Ministry of plans to sell the remaining 5% of its shares.
