Ciech Q4 profit drops

WSE-listed chemicals firm Ciech had a PLN 137.4 million net profit in Q4, down by 21 percent y/y, but above the PLN 127l2 million consensus. EBITDA amounted to PLN 270 million (a 21.8 percent growth), while revenues stood at PLN 961.7 million, up by 5.9 percent. For the whole 2017, Ciech had a PLN 393.3 million net profit, down by 33.7 percent y/y, EBITDA at PLN 833.2 million (down by 5.7 percent), while revenues amounted to PLN 3.57 billion, up by 3.6 percent y/y.