Warsaw (Puls Biznesu) – Stocznia Szczecinska Nowa shipyard (SSN), a member of state-owned Korporacje Polskie Stocznie holding, has had its first income since it was founded in 2002.
At the end of October, we have positive financial result, Andrzej Stachura, SSN CEO said.
The net income amounted to PLN 2.79m (EUR 714,200) against PLN 1.2 billion of sales. This is the first income of the shipyard since it was founded in 2002 in very dramatic circumstances (Porta Holding went bankrupt, SSN was founded on its basis).
There were several reasons for better results.
Exchange rates are more favorable, steel is cheaper and we have improved production processes, SSN CEO enumerated.
However, some sources believe that good result was mainly due to selling shares of Kogeneracja. The shares were given to SSN by the Agency of Industrial Development. SSN signed several weeks ago its first credit agreement without state guarantees and it is negotiating others.
(PLN 1 = EUR 0.256)