Kety aluminium producer generated very good sales last year

02-02-2007, 14:18

Warsaw (Puls Biznesu) – Booming market helps Kety. Despite fire early last year, the group managed to generate the same income as in 2005.

Warsaw (Puls Biznesu) – Booming market helps Kety. Despite fire early last year, the group managed to generate the same income as in 2005. 

The net income of Kety aluminium producer jumped 27 percent to PLN 19m (EUR 4.9m) in the fourth quarter of 2006. In the whole year, the company had PLN 87.7m of net income, nearly the same level as a year earlier. In February, after the fire in its plant, the company expected that the net income would fall by 10 percent.

“Economic growth and our strong position helped us. This was a great year as far as sales are concerned. In 2006, they amounted to PLN 1.055 billion. This is a little bit more than the management forecast at the end of October”, Dariusz Manko, Kety CEO explained. 

Not everything went so perfect. Operational income and EBITDA were lower than planned.

“This is because we raised wages and employed new people. We also hedged against exchange rate and aluminium prices”, Adam Piela, Kety CFO said.

The management repeated the forecast of PLN 98m of net income this year. The group may get bigger soon.

“We are talking with Metalplast Zlotow and I believe we’ll sign a contract”, the CEO said.

The company has also re-launched negotiations with a German firm. They were broken earlier because the expectations of German employees and managers were too high.

(PLN 1 = EUR 0.256)

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