Net profit of Śnieżka in 2021 fell by 23,4 % y/y to 59,7 million

Net profit n / a Śnieżka in 2021 decreased by 23.4 percent. yoy and amounted to PLN 59.7 million. In this period, the Group generated PLN 794.9 million in revenues, which means a decline by 3.2%. y / y - according to the annual report of Śnieżka. According to PAP Biznes calculations, net loss n / a in the fourth quarter of 2021 alone, it amounted to PLN 0.1 million, while the consensus assumed a net loss of PLN 4.5 million.

"One of the most serious challenges in 2021 was the sharp increase in the prices of raw materials used in production and packaging, unprecedented in our history. It exerted a significant pressure on Śnieżka's costs. demand for decorative products in our most important markets,The Group assumes that in 2022 the capital expenditure will amount to PLN 55 million, compared to PLN 121.2 million last year. In the following years, further gradual reduction of the group's expenditure on tangible investments is planned - and their target return to the level of depreciation. ie in Poland and Hungary "- said President Piotr Mikrut, quoted in the press release.

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