NewConnect-listed Polish producer of juices, syrups, beverages, and biocides, Excellence, generated revenues of PLN 12.83 million, i.e. 20.8 percent higher y/y in the first quarter of 2021. Net profit amounted to PLN 0.4 million and increased by as much as 1,548 percent. The results of the first quarter include the consolidation of the data of the company Health Medica, specializing in the production and sale of dietary supplements, in which Excellence acquired 51 percent of shares. In January 2021, the Management Board of Excellence decided to start activities aimed at transferring the company's shares from NewConnect to the regulated market of the Warsaw Stock Exchange.
“The year 2021 will be very active for us and that should be visible in the financial results. We are very strong in the segment of juices, syrups, and beverages in Poland – in 2021 we plan to strengthen our position in export and increase the range and group of customers abroad. The second element of development will be new, very promising segments – i.e. dietary supplements, very attractive products with the addition of hemp, including food, medical and pharmaceutical products, oils, and cosmetics. We want to continue investing in innovative industries and companies that will build the strength of our Capital Group. Additionally, we intend to intensively develop the e-commerce channel in all segments – both juices and dietary supplements. We have started building a platform that has been completely unavailable in Poland so far, which will offer dedicated, individual therapies based on our products,” Dariusz Polinceusz, President of Excellence, said.
In addition, Excellence obtained co-financing from EU funds in the amount of nearly PLN 200,000 for the implementation of the project of implementing changes in the management of the production process.
(WBJ)