Shares in RES manufacturer Sunex rose by 30%
Sunex, a Polish renewable energy equipment maker, reported a sharp increase in third-quarter sales, prompting its shares to jump more than 25% during Wednesday trading and briefly rise above PLN 4. The company estimates standalone revenue at PLN 56.7 mln, up more than 93% year over year. Group revenue rose 33% to PLN 82.7 mln. Revenue for the first nine months reached PLN 188 mln, 8% higher than a year earlier.
CEO Romuald Kalyciok credits a shift from manufacturing mainly for other companies’ brands to selling more products under Sunex’s own name. He says the strategy is helping the company reach customers directly and reduce its exposure to sudden order cuts. Sunex remains loss-making, but management says the stronger sales are helping it recover and meet bank obligations. Further improvement is expected, though the CEO says the sales transformation is still at an early stage.
(pb.pl)