Warsaw (Puls Biznesu) – Yesterday, during the first day in the stock market of Decora, Poland’s interior house decoration producer, shares were traded at PLN 23.9, or 6.2 percent more than in the IPO. “We are happy with the debut, but the most important is what will happen next”, Waldemar Osuch, Decora CEO said. He promises fast growth via acquisitions. Dekora has recently bought two small companies: Trans and Optimal. Funds raised in the IPO were spent on credits for those acquisitions.
“Now we focus on consolidation of our group with the acquired firms. If it happens relatively quickly, one more acquisition is possible this year’, the CEO said. The company may either enter new market or start production of new goods. It is more probable that Decora will expand in Central and Western Europe. It considers founding a subsidiary in Baltic region or Hungary. Potential acquisitions are to be financed from the company’s own funds or credits. “We may borrow even several dozen million zlotys. We are not planning a new issue for the time being”, Waldemar Osuch said.
Decora forecasts sales will grow 25 percent to PLN 125m (EUR 30.9m) and net income will jump 30 percent to PLN 16m.
(PLN 1 = EUR 0.247)Poland/Enterprises/IPO