Stock of Alchemia was one of the best performers yesterday. It ended at PLN 11.01, or 4.86 percent up. During the day, the price rose to PLN 11.15. Investors reacted to quarterly results which were one of the best ever. Consolidated sales of Alchemia amounted in the third quarter to PLN 294m, up from PLN 112m, or by 160 percent. EBITDA improved from PLN 28m to PLN 66.1m. Net income rose 13 percent to PLN 44.1m. In the first three quarters of the year, Alchemia had PLN 107m of net income, or 31 percent more than in the same period of last year against PLN 585m of sales, or 83 percent more than last year.
“The management sees no threat to forecasted financial results”, the company wrote in an official statement.
This year’s forecasts amount to PLN 160m of net income against PLN 925m of sales.
Good results should be no surprise. It was no secret that in the third quarter, results of Huta Bankowa steel plant acquired from Mittal Steel would be consolidated for the first time.
“Huta Bankowa generated about 20 percent of our third quarter sales. Meanwhile, it is being restructured and every month its sales and net income are better. The full potential of Huta Bankowa will be visible in the fourth quarter”, Karina Wsciubiak, Alchemia CEO said.
Her company is going to invest up to PLN 1bn within three years. The company plans mergers, acquisitions and investments in plants.
(PLN 1 = EUR 0.276)