PJP MAKRUM S.A., a group of industrial companies listed on the Warsaw Stock Exchange, published its results for the first half of 2021. Its revenues amounted to PLN 123.0 million, EBITDA PLN 0.9 million. There was also a net loss of 1.3 million.

PJP Makrum operates in such segments as loading technology, industrial construction, machinery and warehouse equipment. It has been listed on the Warsaw Stock Exchange since 1999.

The revenues of the PJP Makrum Industrial Group for 6 months of 2021 amounted to PLN 123 million and were lower by PLN 50.5 million (-29.1%) compared to the revenues achieved in the corresponding period of 2020. The main reason for changes of the value of sales revenues is a decrease in revenues in the industrial construction segment by PLN 55.3 million (-57.1%), which is mainly the result of the early stage of implementation of large contracts (Gas Compressor Station in Odolanów and a housing estate called “PERFUMIARNIA” in Poznań), design changes brought by investors after signing the contracts and postponing some construction works by 2-3 months.

The unsatisfactory level of sales and lower cost commitment on construction sites was also influenced by the winter period (Q1 2021), which made earthworks and work carried out outside difficult, which resulted in a low degree of processing on individual contracts, and, as a result, limiting the possibility of issuing sales invoices.

In the second half of 2021, the Group assumes higher engagement in contracts and expects a significant increase in revenues – the goal is to achieve a level similar to 2020 – says Piotr Szczeblewski, President of the Management Board of PJP Makrum.

An increase in revenues by PLN 10.3 million, ie 16.7%, was recorded in the segment of loading technology of the Group. This product is directed mainly to export markets (82.3% in the first half of the year). In the reporting period, sales of loading systems (y/y) to the main sales market – the German market, decreased by PLN 0.6 million, ie by 2.4% (to PLN 23.7 million); while on the French market it increased by PLN 5.1 million, ie 42.3% (to the level of PLN 17.1 million).

A significant increase in the value of sales by PLN 4.0 million, ie 45.3% (to the level of PLN 12.8 million) was also recorded on the domestic market. In the following months of 2021, the Group expects a significant increase in revenues in this segment, due to the popularity of the product – comments the President.

In the segment of machinery and equipment, sales decreased by PLN 5.5 million, i.e. 36.8%, including a decrease in sales of MODULO car parks by PLN 4.5 million, i.e. 46.0%, and a decrease in sales of MAKRUM machines by 3.1 PLN million, i.e. 58.6%.

The main reason for this is the persistent uncertainty in relation to Covid-19 and the limited propensity to take risks, resulting in postponing decisions on capital-intensive investments / modernizations or major repairs of the machine park. The decrease in sales of machines and parking lots is treated by the Company as a temporary state and expects that the turnover in this segment from 2020 will be repeated by the end of the year – explains Piotr Szczeblewski

The latest segment in which the company operates is warehouse equipment. PJP Makrum offers this promising market forklifts and storage racks.

In the period of 6 months of 2021, the sale of warehouse equipment amounted to PLN 2.1 million. In the second half of 2021, a significant increase in revenues is also planned in this area. The rapid development of the segment is favored by the boom on the warehouse market – says Szczeblewski.


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Investor’s newsletter – August 2021