Debica had PLN 373.4m (EUR 107.9m) of sales, or 10.5 percent less than in the same period of last year. The management explains this with the appreciation of Polish currency which cut sales by PLN 25m. The operating income dropped by nearly 20 percent while management costs grew by 23 percent. The net income amounted to PLN 19.3m, or 7.6 percent less than in 2007. The net income was PLN 3.6m higher than last year, mainly thanks to financial operations.
Jacek Pryczek, Debica CEO, said that the company saw smaller demand for tires in Western Europe. Inventories of winter season tires grew because of mild winter.
“But we sustain our forecast of PLN 90m of net income this year”, Jacek Pryczek said.
Sales are supposed to amount to PLN 1.62bn.
(PLN 1 = EUR 0.289)