Komputronik reported a net profit of PLN 8.85 million
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Komputronik reported PLN 8.85 mn consolidated net profit attributable to shareholders of the parent company for the financial year 2020/2021 (ended March 31, 2021), compared to PLN 83.54 mn loss a year earlier, the company said in a report.
“Despite all the unfavorable conditions, the group achieved revenue of PLN 1,479.2 million in the period from April 1, 2020 to March 31, 2021, down 10.3% year-on-year. While a 25.5% decrease in turnover was recorded in the first half of the year, a 4.7% increase in turnover is already visible in the second half. In the 2020 financial year, the group realized an average sales margin of 13.1%. As a result of entering the sanitation process, the issuer has taken a number of measures to reduce costs. The main areas of reduction were salary costs and the cost of leasing commercial space. As a result of the measures taken, selling costs and general and administrative expenses for fiscal year 2020 amounted to PLN 160.3 million and were lower than in 2019 by 20.1%. Selling costs decreased by 15.4% (by the value of PLN 24.9 million) while management costs decreased by 39.8% (by the value of PLN 15.4 million). The consolidated result on sales less costs of sales and general management amounted to PLN 34.1 million compared to a loss of PLN (-36.7) million in 2019” - the report reads.
“Thanks to the work of our teams, for which I thank everyone together and individually, we have been able to do remarkable things! Rigorous cost management policies, while taking into account the need to reward employees fairly and to reward the achievement of above-average results, have enabled us to regain profitability in every quarter of the past financial year. Almost all of our suppliers continue to cooperate with us, many of them even declare additional business involvement due to the circumstances”, commented CEO Wojciech Buczkowski in a letter attached to the report.
