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November 10th, 2010 |
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Centrum Klima - record results in the Company's history in third quarter 2010
Centrum Klima - the leading Polish producer and distributor of ventilation and air-conditioning systems, which is also an important player on the European markets - gained sales profit of PLN 24.2 million in III quarter of 2010, which means 27.4% increase in comparison to the corresponding period of 2009 (PLN 19.0 million). Net profit was PLN 2.3 million, that is 21.1% more than in third quarter of 2009.
Cumulatively, for three quarters of 2010 the revenues of Centrum Klima increased by 17.2%, up to PLN 63.3 million in comparison to the first three quarters of 2009. Net profit was PLN 5.4 million, that is 3.8% more than in the first nine months of 2009.
"Third quarter of 2010 was the best one in the Company's history as far as the revenues are concerned. September was the first month of the production department working at a new plant. This was reflected in the results - sales revenues from own production reached the record level of PLN 2.2 million. We believe that we will succeed in preserving this trend and consistently increase revenues and margins in this segment of our operations. Third quarter also meant increase in export sales. After nine months of 2010 revenues from foreign contracts constituted already 27% of our revenues. According to the adopted strategy, target export share should reach 45%" - said Marek Perendyk, President of the Management Board of Centrum Klima.
The following are major factors, which had an impact on the results gained by Centrum Klima in III quarter of 2010:
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Change of the Company's place of business - Wieruchów near Warsaw
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increasing production capacity - implementation of new contracts
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costs of moving on the level of PLN 600 thousand, taken into account of IIIQ 2010
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smooth transfer of production - minimizing loss on revenues and margins
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Entering new markets. Since the beginning of 2010 the company started trade activities with business partners from Austria, Croatia, Faroe Islands, Morocco, Switzerland, and Turkey. Centrum Klima also launched cooperation with new partners from Sweden, Ukraine, Belarus, Germany, Bulgaria, the Netherlands, Romania, Estonia, the United Kingdom, Czech Republic, Belgium, Finland, Denmark and Portugal. The Company conduct sales with the customers from 34 countries in the world.
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Favourable weather conditions. Very hot summer (July and August were record months as far as sales of air-conditioners were concerned)
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Revival in construction industry and improvement in ventilation industry, increased number of orders
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Weakening of Polish zloty in relation to US dollar
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first of all in the production department and labour costs it entails
Centrum Klima conducts intensive export activities, dynamically increasing revenues and profit on these operations. Export sales of Centrum Klima in the first nine months of 2010 increased by 39%, up to the level of 27% of revenues. During the corresponding period of 2009 export constituted 23% of revenues of Centrum Klima.
In 2009 Centrum Klima gained sales revenues of PLN 71.7 million, thus materializing the envisaged financial forecasts in 101,5%. Net profit was PLN 6.7 million (forecast materialized in 95.8%), which contributed to gaining the net margin on the level of 9.4%.
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