Current report no : 10/2012
Report date : 4/11/2012
Abbreviated name : Ciech SA
Subject : Finacial Results of the Zachem Capital Group
Legal basis : Article 56, section 1, point 2 The Law on Public Offer - current and periodic information
Report :
CIECH SA Management Board (‘Company’) hereby informs, that due to the accomplishment of the key part of the restructuring program, Zachem Capital Group (‘GK Zachem’) was obliged to announce financial results earlier. GK Zachem generates approximately 20 percent of sales revenues of Ciech Group and 54 percent revenue from the sale of the organic segment. In addition, GK Zachem financial result had a significant negative impact on the Ciech Group's consolidated results for 2011.
On 11 April 2012, the Management Board was notified about financial results of the Zachem Group for the first quarter of 2012 and decided to make public the basic items in the profit and loss account.
The basic items of profit and loss account are presented in the table below.
GK Zach financial results for the first quarter of 2012 compared to the first quarter of 2011
*Q1 2012 (PLN thousand) | Q1 2011 (PLN thousand) | |
| Sales revenue | 207 948 | 250 279 |
| EBITDA | 1 687 | (7 294) |
* Result does not include the results of the polyurethane foams business disposed of to CIECH SA in 2011
Signatures of the Company’s Representatives : Ryszard Kunicki – President of the Management Board
