Rafako facing bankruptcy with loss of PLN 348 mln net
In the first half of 2024, Rafako reported a net loss of PLN 348 million, compared to PLN 231 million a year earlier, leading to a bankruptcy filing on September 26. The company’s revenues dropped by 66% to PLN 58.7 million due to the lack of new orders and the completion of the Jaworzno 910 MW project. Total liabilities increased to PLN 1.2 billion, up PLN 266 million since the end of 2023. Rafako's financial struggles resulted in negative equity of PLN 826.5 million. Management attributes the bankruptcy to disrupted negotiations and emphasizes the need for debt restructuring to attract new investors.
(wnp.pl)
