Ciech chemical producer forecasts higher income

APA - Austria Presse Agentur
opublikowano: 16-02-2006, 21:33

Warsaw (Puls Biznesu) – Ciech, the listed chemical company, presented its forecast for the year 2006. Sales will be lower but net income higher than last year.

Warsaw (Puls Biznesu) – Ciech, the listed chemical company, presented its forecast for the year 2006. Sales will be lower but net income higher than last year.

Ciech forecasts that at the end of the year 2006 its sales will exceed PLN 1.9 billion (EUR 501.6m) while the net income PLN 121m. If Ciech conducts its planned acquisitions, it will present a new forecast. The company expects that the prices of soda products will increase by about 2 percent while the prices of basic materials will remain unchanged in comparison to prices in the last months of last year. Ciech assumes that the GDP will amount to 4.3 percent while the PLN/USD exchange rate will amount to 3.26 and PLN/EUR to 3.97.

Preliminary results for the year 2005 amount to PLN 2.2 billion of sales and PLN 109m of net income. High sales are the result of the transaction, in which Ciech sold its subsidiary Petrochemia Blachownia to Hungarian BorsodChem.

 (PLN 1 = EUR 0.264)

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Podpis: APA - Austria Presse Agentur

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