Alchemia posts excellent Q3 results

2007-10-26 00:00

publikacja
2007-10-26 00:00

Sales at Alchemia jumped by 160%, to zł.294 million, in Q3, up from zł.112 million a year ago. Net income was zł.44.1 million, up by 13%. Net profits for the nine months to September were zł.107 million, up by 31%, on sales of zł.585 million, up by 83%. The third quarter was the first time Alchemia consolidated the results of Huta Bankowa, a Chorzów-based steelmaker it bought from Mittal Poland, which accounted for 20% of group revenues in Q3. "Huta Bankowa is still in the middle of restructuring, so we will only see its full potential reflected in the Q4 figures," says Karina Wściubiak, Alchemia CEO. With its current financial standing described by the management as "very good," Alchemia plans to embark on an ambitious expansion strategy. It wants to spend up to zł.1 billion within the next three years on projects in the rolled-steel sector and on vertical integration. "The expansion will be through M&A deals or greenfield investments," the company said in a statement. (Puls Biznesu, p. 11) R.M.

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Alchemia posts excellent Q3 results

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