Polwax net profits up in 2014 y/y

Wax and paraffin producer Polwax recorded net profits of PLN 22.4 million in 2014, compared with PLN 19.8 million in 2013, a press release reads. Sales revenue reached PLN 258.2 million, versus PLN 241.1 million a year before. EBIDTA amounted to PLN 30.8 million, whereas it totaled PLN 27.5 million in 2013. Polwax was established in 1999, it has been listed on the WSE since October 2014. In 2004-2011, it was called Lotos Parafiny and was part of the Grupa Lotos oil holding. In January 2012, the company’s managers carried out a management buy-out with the support of Krokus PE and other investors.