Elektrotim presents cautious forecasts

23-01-2008, 11:04

Warsaw (Puls Biznesu) – Elektrotim group estimates that it will have PLN 12m of net income this year. It may be more, however as the management did not include planned acquisitions in its estimates.

Supervisory board of Elektrotim, a listed company specializing in automatics and traffic lights, approved of 2008 forecasts. They provide for PLN 12m (EUR 3.3m) of consolidated net income and PLN 130m of sales.

“These forecasts are conservative ones. The results of our three subsidiaries, including Elektromont Beta, Infrabud and Procom-System have been included. They will be consolidated since January”, Andrzej Diakun, Elektrotim CEO stressed.

“Our forecasts for Elektrotim are slightly higher and provide for PLN 12.5m of net income. It can be even more if further acquisitions are concluded and the construction market does not slow down”, Michal Sztabler, DM PKO BP analyst explained.

The company does not comment its 2007 forecasts amounting to PLN 9.2m of net income and PLN 100m of sales for the company and PLN 10m and PLN 110m for the group. This year, the company will continue its politics of acquisitions. It has PLN 20m for these transactions.

“It should be enough to buy 3-4 firms. But we won’t strive to acquire firms at any price. We are talking with three companies”, Andrzej Diakun said.

(PLN 1 = EUR 0.273)

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