Famur lands large contract in the US, as its transitions from coal to PV

he revenues of the Famur capital group reported Q2 revenues of PLN 244 million, increasing by 9% compared to the same period last year. EBITDA was PLN 70 million, and the EBITDA margin was 29% revenues.

While the coal mining sector in Poland is waiting for the final shape of the restructuring plan, the Famur group maintains export sales at the level of approx. 36% of revenues.

The largest share in foreign sales invariably comes from the Russian market and the countries of the Commonwealth of Independent States, however, the group continues its expansion into new markets, an example of which is the contract concluded in August 2021 with the American company Century Mining for the supply of mechanized support, worth approximately USD 28 million (approx. PLN 111 million) for the coking coal mine. It will be the first direct delivery of this type of equipment to the USA.

The main events having a significant impact on the future development of FAMUR is the definition of new strategic directions aimed at building a holding investing in green transformation, including by entering the sector of large-scale photovoltaic projects.

“The first half of this year has shown that the Famur Group is effectively using the current process of dynamic changes in the market environment related to the energy transformation” – says Mirosław Bendzera, president of Famur.

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