Grupa Przemysłowa PROJPRZEM MAKRUM S.A. has published the 3Q2019 financial statement. The company, listed on the WSE since 1999, recorded good results in the third quarter alone, but the worse first half of the year has a negative impact on the report for nine months of this year.
Consolidated revenues for 9 months amounted to PLN 174.2 million, net profit to PLN 1.9 million and EBITDA to PLN 6.7 million. All these values compared to the same period of the previous year were characterized by a decrease. The first six months had a negative impact on the three-quarter picture.
In the third quarter alone, the company, as announced by the management board, improved its results, making the positive ending of 2019 more probable. Third-quarter revenues amounted to PLN 71.9 million, compared to 53.9 million in the second quarter and 48.4 million in the first. Net profit reached 1.1 million, compared to PLN 0.6 and 0.3 million, respectively.
“We started 2019 with unfavorable results for the first three months. We are gradually improving them in the following quarters. The last period of the year should have even better results due to the contracts already signed. The results were reflected in the cyclicality of implementation, particularly evident in the area of industrial construction” – said Piotr Szczeblewski, President of the Management Board of PROJPRZEM MAKRUM S.A.
The next period ended with an increase in the docking solutions segment – a product which in the reported period was responsible for 58.4% of the revenues of the entire Projprzem Makrum Group. Revenues in the 9 months of this year increased by 14.7% to PLN 104.2 million. Export sales in the segment increased by 18.2%.
“Sales of docking solutions due to the boom in e-commerce and the development of the warehouse market are constantly growing. Further prospects are also optimistic here, due to the increase in production potential, which we will see after completing the investment in the company’s production plant” – declares Szczeblewski.
MODULO parking systems recorded a surge of sales (+ 67% y / y). It was presented in the report as a part of the steel structure segment. Overall, however, it did not grow, due to lower sales of traditional Makrum crushing and grinding machines, which were also included in this segment.
The decrease in revenues in the industrial construction segment compared to the corresponding period of 2018 by 34%, results from the cyclical nature of the execution of concluded contracts. The segment’s priority is to maintain profitability, despite the relatively unfavorable market environment. At the end of 2019, the Group expects a significant increase in revenues of this segment, in connection with new contracts, which are expected to be completed by the end of the year.