Metal works

Grupa Boryszew, one of the largest industrial groups in Poland, wrapped up 2006 with strong results and record figures for the majority of the capital group's companies.

Boryszew's consolidated revenues from sales rose by 187 percent in comparison to 2005, coming in at zł.5.3 billion. Its consolidated net profit of zł.47.7 million, however, was 62-percent lower than the previous year, which the capital group attributes to one-off events like the formation of asset reserves for dependent companies O/Elana and Kuag Elana.

The Impexmetal subsidiary yielded the highest returns with zł.164 million in net profit - an increase of 170 percent on 2005 - a result of succesful restructuring. Boryszew's aluminum division, consisting of Aluminium Konin and NPA Skawina, increased its sales to reach an EBIT of around zł.88.5 million. For both the copper and the zinc-and-lead divisions, 2006 was record year in terms of sales and operational profits. In fact, only the polymer division had a tough time of it last year, resulting in an EBIT loss of zł.55.4 million.

Grupa Boryszew began 2007 with the sale of failing Kuag Elana. The group plans to continue restructuring its polymers division.

"We intend to leave bad investments behind and concentrate on our good prospects," said Adam Chełchowski, president of the board at both Boryszew and Impexmetal. In its copper, zinc and lead divisions, the capital group wants to strengthen its position and increase sales. In 2007, the aluminum division hopes to see the realization of investments in a new line of production equipment that would generate significant improvement in operational revenues.