20.09.2018 | Lubawa Group increases revenues and profitability in the first half-year

The report for the first half of the year confirmed earlier estimates - sales of Lubawa Group increased by 7% yoy, EBIT and net profit were respectively 109% and 40% higher than in the same period last year.

Consolidated revenues of the Group cumulatively after the second quarter amounted to PLN 130.7 million (+ 7% yoy), translating into a PLN 9.7 million operating profit (+ 109% yoy) and PLN 5 million net profit (+ 40% yoy) ). As explained by the Board, the improvement of the results is due to higher sales in the subsidiary Miranda, responsible for the segment of fabrics.

- The recorded increase in results is primarily the result of a 16% increase in sales in the fabrics segment, which also enabled a three-fold improvement in the segment's result to the level of PLN 7.2 million. This increase was the effect of a higher volume and more favorable order structure in the Miranda subsidiary in the first quarter - explained Marcin Kubica, President of the Management Board of Lubawa SA

The Group also recorded an increase in sales in the segment of advertising materials, which is the largest area of ??its activity. It generated PLN 65 million in revenue, an increase of 2.6% yoy. The segment's result amounted to PLN 4.9 million and was lower by 26% yoy, which was caused by, among other things, higher costs of aluminum semi-finished products and wage pressure.

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