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May 13th, 2010 |
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Centrum Klima - foreign sales increased by 29.2%
Centrum Klima - the leading Polish producer and distributor of ventilation and air-conditioning systems, which is also an important player on the European markets - maintained revenues from sales in I quarter of 2010 on the level of PLN 17.05 million, close to the result achieved in the corresponding period of 2009 (PLN 17.06 million). Net profit was PLN 1.30 million, that is 3.25% more than in I quarter of 2009. Foreign sales increased by 29.2% (from PLN 3.63 million in I quarter of 2009 to PLN 4.70 million in I quarter of 2010).
Financial results of Centrum Klima in I quarter of 2010 were primarily affected by very difficult weather conditions which have put Polish construction industry works at a standstill for several weeks and contributed to the fall in the company revenues during the first two months of the year. Moreover, negative exchange rate differences had an impact on the level of revenues from sales.
The first three months of 2010 were characterized by growth in demand for and sales of own products of Centrum Klima. The sales are targeted mainly at European markets. In order to meet the expectations of foreign customers, whose orders proved three times higher than it had been envisaged, the company launched second full time shift - consumption of steel sheets in comparison to I quarter of 2009 increased by 37.6%. Thus revenues form sales of own products reached PLN 4.5 million and increased by 21.5% in comparison to I quarter of 2009.
In January 2010 Centrum Klima acquired new customers from Norway, Slovenia and Portugal. Moreover, within the framework of continuous development of foreign activities, next business partners form France, Belgium, Czech Republic and Slovakia were included in the company’s portfolio, which translated - on a quarterly scale- into increase of foreign sales of the company up to PLN 4.7 million that is by 29.2% more than in I quarter of 2009.
"Less advantageous macroeconomic situation increases development opportunities for financially stable commercial entities. Because the crisis contributes to intensification of activities when competitors are weaker - it is good time for extending the scope of business operation and performing acquisitions. Centrum Klima is planning to develop distribution channels - at the moment we are at the stage of highly advanced discussions about taking over 100% of a Polish company. If the company fulfils all our expectations, both financial and formal, we will most probably finalise this acquisition in III quarter of 2010" - says Marek Perendyk, President of the Management Board of Centrum Klima SA.
In January 2010 Centrum Klima started the construction of a new warehouse-production-office complex in Wieruchów. The agreement with the general contractor, Skalski company is worth PLN 18.1 million, that is PLN 3.5 million less than it was envisaged. Despite weather-related obstacles the works were conducted according to the envisaged schedule. In I quarter the company designated about PLN 3.2 million for the investment. Along with the construction works Centrum Klima conducted preparations connected with furnishing facilities, warehouses and production halls. Therefore it purchased, among others, a set of machines produced by a Swiss company, Spiro International and worth PLN 1.34 million. The investment completion is planned for July 2010.
Despite a difficult situation in the industry in I quarter of 2010 Centrum Klima managed to avoid fluctuations of economic trends. Stable financial results for the company were ensured by:
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presence on many markets (our line is used by companies from Poland and more than 20 other countries);
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diversification of product offer (Centrum Klima business operations are based both on production and distribution of the elements used in ventilation and air-conditioning systems);
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diversification of customers (Centrum Klima reaches customers from the following areas, among others: commercial, residential and public utility construction, chemical, power and refrigeration industry).
At the next General Ordinary Meeting of Shareholders of Centrum Klima the resolution concerning distribution of profit from the financial year 2009 will be passed. The Management Board will recommend the payment of dividend in the amount of PLN 0.40 per share, whereas the company paid PLN 0.30 per share for 2008.
During next quarters of 2010 Centrum Klima is planning to develop distribution channels, introduce new technologies, and to expand product offer systematically. The priority for 2010 is to confirm our status as one of market leaders in the scope of distribution and production of elements for ventilation and air-conditioning systems in Polnad, and as a major company operating on the European Union market.
Activities of Centrum Klima in I quarter of 2010 were appreciated by renowned and prestigious institutions, both from Poland and abroad. The company was distinguished, among others, by the jury of Forbes Diamonds 2010, received quality attest of a German company, Muller-BBM GmbH in ISO 7235 standard for TAO silencers, obtained "Jakość Roku 2009" [Quality of the Year 2009] title, in the product category for a S-Flex semi-flexible aluminium duct, and was awarded the prestigious title of Business Gazelle, in the competition organized by Puls Biznesu editorial team in cooperation with Coface Poland.
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