Energomontaż Polska wersja
Press service

02.03.2010

The best unconsolidated result in the history of Energomontaż-Południe S.A.


For 2009, Energomontaż-Południe S.A. posted a net profit of PLN 22.30 million, against PLN 12.38 million in the previous year.
The unconsolidated result for 2009 is the best one over the last 10-20 year period.

Cumulatively, for the whole of 2009 the company achieved a consolidated net profit of PLN 14.28 million, compared to PLN 15.34 million in the previous year, while its revenues were PLN 275.65 million compared to PLN 239.91 million in the previous year.

Energomontaż-Południe S.A's revenues in the final quarter of 2009 were PLN 81.58 million, against PLN 63.95 million one year previously. The Group's revenues in the periods under review rose by 28 percent, mainly thanks to an improvement in the sales of the dominant entity's industrial output.

The operating profit at Group level in the final quarter of 2009 was PLN 7.61 million, against PLN 11.98 million one year previously. This is because the Group posted a reduced gross profit on sales as a result of the exclusion of the profit retained within the Group. During the year, the dominant entity provided general contractor services in the comprehensive construction of a residential district in Katowice. The exclusion for consolidation referred to above shall be discounted in 2010 when apartments are sold outside the Group.
In the final quarter of 2009, Energomontaż-Południe S.A. posted a consolidated net profit for shareholders in the dominant entity of PLN 5.05 million, against PLN 9.31 million in the previous year. The final quarters of 2009 and 2008 are not comparable because in the final quarter of 2008 the favourable net profit was affected by a one-off transaction by the dominant entity involving the valuation of a property (an office block in Wrocław), whereas no such transaction occurred in 2009.

The profit for 2009 to be divided among the Shareholders was PLN 22.3 million, 80 percent higher than the profit generated in the preceding financial year.


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