Current report no. 34/2018
Date of preparation: 05.12.2018
Abbreviated name of the Issuer: CIECH S.A.
Subject: CIECH Group Strategy for 2019-2021
Legal basis: Art. 17.1 of the MAR - inside information
Contents of the report:
The Management Board of CIECH S.A. (the "Issuer" or "Company") informs that on 5 December 2018, the Supervisory Board of the Company approved the "CIECH Group Strategy for 2019-2021" adopted by the Management Board of the Company (the "Strategy").
The Strategy foresees the development of the CIECH Group towards a more effective and diversified chemical holding, generating a positive value for shareholders. This goal will be achieved by increasing competitive advantages in the key soda business, further investing in the development of specialist businesses and value creation through changes in the asset portfolio, based on the following three pillars: customer orientation, innovation and increased efficiency.
The Strategy also provides for building a work environment conducive to the development of the best employees, creating a culture of efficiency, as well as strengthening the position of a reliable partner of local communities, demonstrating responsibility for the natural environment.
Strategic financial goals of the CIECH Group:
1. sales revenues in 2021: PLN over 4.0 billion
2. adjusted EBITDA in 2021: PLN over 900 million
3. adjusted EBITDA margin in 2021: over 22%
The Strategy has been appended to this current report.
The presented data cannot be understood as a forecast of future results of CIECH S.A. or the CIECH Group. Statements as to expectations regarding future financial results are not a guarantee or assurance that such results will be achieved in the future. CIECH S.A. is not responsible for the effects of decisions that have been made on the basis of the data presented. The responsibility lies solely with users of such data.
Legal basis: article 17.1 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on Market Abuse (the Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union L No. 173, p. 1) (the “MAR”).
Signatures of persons representing the Company:
Dawid Jakubowicz – President of the Management Board
Artur Osuchowski – Member of the Management Board
