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March 15th, 2010 |
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Centrum Klima SA has fulfilled its financial forecasts
In 2009, Centrum Klima SA, the leading Polish producer and distributor of ventilation and air-conditioning systems and one of major players in Europe, earned the sales of PLN 71.7 million and fulfilled its financial forecasts at 101.5%. Its net profit amounted to PLN 6.7 million (95.8% of the forecast), which let the company generate the net mark-up of 9.4%.
In spite of the uneasy economic situation in Poland, the year 2009 was the time of stable development for Centrum Klima SA. The company was consistent in strengthening the status of the Polish leading company in the distribution and production of elements of ventilation and air-conditioning systems, as well as a significant entity operating in the EU market.
Centrum Klima SA earned the sales of PLN 71.7 million, which is by 5.5% less than in 2008. Its income was mostly influenced by weakening economic situation and fluctuations of foreign exchange rates, which were discernible in the first quarter of 2009
"Preparing our 2009 forecasts, we took into account such factors like the financial crisis and related suspension of finance for our new investments in Poland and Western Europe, weather conditions, growth of employment, unstable foreign exchange rates, and changes in prices of raw materials. However, the scale and dynamics of changes turned up to be bigger than we expected. In spite of that, we find our 2009 performance as satisfactory, in particular in comparison to our industry and the European leader, LINDAB A.B., which determines the objective image of the market as the largest European ventilation producer. The 2009 results of Centrum Klima SA show that the company defended against severe consequences of the crisis based on its consistent development strategy and strengthened its market position by achieving a decidedly bigger share in the Polish market and improving its position in European markets", says Marek Perendyk, President of the Board of Directors of Centrum Klima SA.
In 2009, the priority of Centrum Klima SA was to carry out the planned investments. The company regularly implemented innovative technological solutions owing to which it expanded and made its product offer more attractive and, in the end, improved its competitiveness. In 2009, Centrum Klima SA bought 7 modern production machines of PLN 3.19 million in total. Thanks to its investments in production capacity in 2009, the share of the company's own production in sales grew from 18% in 2008 to 22% in 2009. While the share of own production in export grew from 43% in 2008 to 48% in 2009. At present, the company runs its production activity on the basis of modern machinery of recognised international producers (e.g. Spiro and Omera).
In 2009, the export sales of Centrum Klima SA also grew and constituted 23% of total sales, i.e. by 43% more than in 2008. Export sales increased as a result of winning the trust of European recipients based on high product quality and price competitiveness. The long-term strategy of Centrum Klima SA provides for the growth of foreign sales up to 45%.
The strategic goal of Centrum Klima SA for 2010 is to improve the company's status as one of market leaders in the distribution and production of ventilation and air-conditioning systems in Poland, as well as a significant entity operating in the EU market. The company intends to achieve this goal by the way of systematically increasing the sales of its assortment through the expansion of its logistic and production facilities. To achieve such assumptions, the company will aim at increasing the profitability of its activities, at the same time.
"In 2009, we carried on preparing the construction of a new warehouse, production and office complex in Wieruchów. We allocated PLN 352 000 to that investment. In December 2009, we signed an agreement with the General Contractor, Skalski, of PLN 15.3 million, i.e. by over PLN 3.5 million less than assumed. The construction commenced in January 2010 and, in spite of difficult winter, has run as scheduled and will be completed in July 2010", adds Marek Perendyk, President of the Board of Directors of Centrum Klima SA.
In 2010 Centrum Klima SA plans to carry on pending investments. They will be financed with funds coming from the issue of shares in October 2009, as a result of which the company gained PLN 31.5 million:
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the construction and finishing of a new office in Wieruchów;
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further expansion of machinery;
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the expansion of ERP IT system with further modules, e.g. to operate a high-storage warehouse.
Thanks to its operating strategy and the consistent fulfilment thereof, the company is able to systematically increase its income and financial performance. At the closest General Shareholder Meeting, the Shareholders of Centrum Klima SA will adopt a resolution on the distribution of 2009 profit. Directors recommend paying the dividend of PLN 0.40 per share, while in 2008 the company paid PLN 0.30 per share.
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