Top 5 winners in 2004
BPH Bank SA, a member of international HVB group, enjoyed a substantial growth together with the whole finance sector throughout the year. It posted consolidated net profit of zł.589 million after Q3 2004-a significant rise from zł.271 million consolidated after Q3 in 2003. BPH capitalized on strong the złoty, earning its money from economic growth and a rise in demand for consumer credits. Some estimates suggest the bank may reach zł.750 million net profit in 2004, hitting an all time record.
Polfa Kutno SA, a Polish pharmaceutical, earned a place in the winners section despite its stock suspension on November 22, 2004. This decision was caused by Polfa's shareholder, American pharmaceutical IVAX placing a call to exchange Polfa shares for his own. In effect, Americans now own almost 98% of the Polish company and are listed on WSE. The rumors about the takeover were the most important factor for share price rise, as Polfa posted weaker results than in 2003.
ZM Duda SA is a clear example of an EU accession winner. This meat producer increased its exports and, accordingly, net profit (zł. 18 million consolidated after Q3 2004) after Poland entered the united EU market. Meat prices skyrocketed with Western interest in Polish products. The outcome: Its financial results in 2004 are incomparable to those of 2003, with net profit more than doubling.
Stalprofil SA also owes much of its impressive results to outside factors. This steel trading company gained on soaring steel prices on the international markets. A zł.38 million consolidated net profit after Q3 put shareholders in a good mood, and some zł.48 million is predicted for the whole of 2004. Analysts support the prognosis despite an 11% fall in revenue for the last 12 months, compared to earlier forecasts.
Bank of Austria Creditanstalt, listed both in Warsaw and Vienna, managed to improve its results in 2004, in large part due to high earnings in Austria and the CEE region. Operations in this area make for 40% of bank's total profit. BACA posted promising results in Q3 (e151 (zł.625) million net profit against e110 (zł.455) million in 2003). An unexpected rise in revenues after Q3 caused the bank management to review its e750 (zł.3,105) million revenue for the end of the year to e800 (zł.3,312) million.
Polfa Kutno SA, a Polish pharmaceutical, earned a place in the winners section despite its stock suspension on November 22, 2004. This decision was caused by Polfa's shareholder, American pharmaceutical IVAX placing a call to exchange Polfa shares for his own. In effect, Americans now own almost 98% of the Polish company and are listed on WSE. The rumors about the takeover were the most important factor for share price rise, as Polfa posted weaker results than in 2003.
ZM Duda SA is a clear example of an EU accession winner. This meat producer increased its exports and, accordingly, net profit (zł. 18 million consolidated after Q3 2004) after Poland entered the united EU market. Meat prices skyrocketed with Western interest in Polish products. The outcome: Its financial results in 2004 are incomparable to those of 2003, with net profit more than doubling.
Stalprofil SA also owes much of its impressive results to outside factors. This steel trading company gained on soaring steel prices on the international markets. A zł.38 million consolidated net profit after Q3 put shareholders in a good mood, and some zł.48 million is predicted for the whole of 2004. Analysts support the prognosis despite an 11% fall in revenue for the last 12 months, compared to earlier forecasts.
Bank of Austria Creditanstalt, listed both in Warsaw and Vienna, managed to improve its results in 2004, in large part due to high earnings in Austria and the CEE region. Operations in this area make for 40% of bank's total profit. BACA posted promising results in Q3 (e151 (zł.625) million net profit against e110 (zł.455) million in 2003). An unexpected rise in revenues after Q3 caused the bank management to review its e750 (zł.3,105) million revenue for the end of the year to e800 (zł.3,312) million.
