Vistal with PLN 107 mln Q2 loss

WSE-listed steel construction producer Vistal had a PLN 107.1 million consolidated net loss in Q2, down from PLN 7.69 million profit last year. EBIT loss amounted to PLN 126.2 million, compared to PLN 10.3 million profit a year earlier. Revenues were down to PLN 10.58 million compared to PLN 122.07 million last year. Consolidated sales revenues amounted to PLN 10.58 million in Q2 2017 compared to PLN 122.07 million a year earlier. In recent weeks, a number of banks terminated Vistal loans, demanding that they are paid back. In order to avoid bankruptcy, Vistal has picked a number of assets earmarked for sale in order to cover its debts. Last month, the company filed for remedial proceedings. Recently, Vistal informed that due to revised budgets of its long-term contracts, the H1 results could be lower by some PLN 88.1 million.