Porta door producer to fight for new markets and modernize its plants

opublikowano: 29-12-2008, 15:20

The door producer expects crisis in the second half of 2009. But it does not give up its investment plans amounting to  PLN 25m.

Porta Drzwi, a company from Baltis Investment, a group planning an IPO, does not expect that the market will deteriorate in the first half of next year.

“Till the end of May 2007, we had a boom on the homebuilding market. The investment cycle lasts 18 months. Many flats will be ready not earlier than in May 2009. Problems will start in the second half of the year and they will last till the middle of 2010”, Jacek Sarnowski, Porta Drzwi CEO said.

This year, Porta’s foreign sales have been dropping dramatically.

“I’m going to focus on winning the lost markets instead of looking for new ones. I wanted exports to constitute 30 percent of sales. Now I know they will amount to 10 percent”, Mr. Sarnowski added.

Next year, exports are supposed to amount to 20 percent of sales. The latter should not be worse than in 2008.

“They will exceed PLN 390m. The net income will be slightly higher than last year”, the CEO said.

In 2007, Porta had PLN 48m of net income and PLN 364m of sales.

In 2009, the company plans to modernize its plants. It has four facilities in Poland and one in Romania. Its capacity amounts to 1m units annually. In May, the company will launch production in a new unit in its Suwalki plant. It will spend PLN 25m for investments next year. Initially, these funds were supposed to be spend to build a plant in Ukraine. The transaction had failed. The CEO explains that such investments have become too expensive while situation in Ukraine has become too unstable.

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