Bowim had an estimated PLN 42.34 million of standalone net profit in Q1 2022

Bowim's standalone net financial result amounted to PLN 42.34 million in Q1 2022, an increase of PLN 11.7 million y / y, the company said, presenting preliminary estimates.

Unit net revenues from sales of products, goods and materials for Q1 2022 amounted to PLN 619.82 million, which is an increase of PLN 194.69 million y / y, it was reported.

The unit operating profit for Q1 2022 amounted to PLN 65.85 million, which means an increase by PLN 19.21 million y / y.

“The increase in net sales revenues is mainly related to the continued demand for steel products and the high dynamics of price growth in the first quarter of 2022. The increase in financial results is the result of the proper use of the dynamically changing market situation and the increase in the prices of steel products, ”reads the release.

The situation on the steel market, especially after the outbreak of the war in Ukraine, remained tense and influenced the availability of steel products at distributors. It was a consequence of concerns about the availability of materials, which resulted in their limited supply, which caused the prices of products to rise rapidly. The situation has started to stabilize in recent weeks, the company also pointed out.

The Bowim Group is one of the main steel distributors on the Polish market, it serves 3.5 thousand. customers from various industries, providing 320 thousand. tons of steel per year. In addition to its core business, i.e. trading in metallurgical products, Bowim produces prefabricated elements for the construction industry. It has modern production plants in Sosnowiec, Płock and Gliwice. The company's shares have been listed on the WSE since 2012. Its consolidated revenues reached PLN 2.26 billion in 2021.

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