Protektor recorded PLN 0.68 million of consolidated net profit attributable to shareholders of the parent company in 2021 against PLN 0.73 million of profit a year earlier, the company said in the report. The operating profit amounted to PLN 0.62 million against PLN 2.12 million profit a year earlier. "Consolidated operating result in 2021, the Protektor capital group generated PLN 0.6 million (PLN -1.5 million y / y) [...] The deterioration of the operating result in 2021 was mainly due to the lower% margin on sales by 2.5 percentage points y / y and the sale of shares in the Terri-Pa subsidiary. Consolidated EBITDA in 2021 amounted to PLN 6.7 million, compared to PLN 7.8 million in 2020 (PLN -1.0 million y / y). EBITDA profitability (share of consolidated EBITDA in sales revenues) amounted to 7.2% (-1.4 percentage points y / y), ”the report reads. Consolidated sales revenues reached PLN 93.76 million in 2021 compared to PLN 90.76 million a year earlier. “A milestone in the adopted strategy was the sale of one of the factories located in Moldova - in December 2021 we sold 51% of shares in the Terri-Pa subsidiary. In 2022, we will produce footwear in two own factories and in cooperation with Terri-Pa (when selling the shares, we concluded a framework agreement that regulates the terms of cooperation for the next five years). Our goal is to maximize the potential of the plant in Lublin - the cost of unused capacity in this plant was charged to the result for 2021 with the amount of PLN 3.2 million. The sale of shares in the Terri-Pa subsidiary had a significant impact on the presented results: due to the loss of control (disposal), the result at the EBITDA level decreased by PLN 2 million, and the sale transaction included in financial revenues generated a profit on the sale of the subsidiary in the amount PLN 2.9 million. The reorganization of the production structures resulted in a reduction in employment - the severance pay for a member of the management board of the subsidiary Inform Brill charged the result for 2021 with an additional amount of PLN 0.5 million. The aforementioned events were of a one-off nature, and their impact on the Group's result at the EBITDA level amounted to a total of PLN 2.5 million, ”explained President Tomasz Malicki in the letter attached to the report. On a standalone basis, the net profit in 2022 amounted to PLN 0.92 million compared to PLN 3.02 million profit a year earlier. Protektor is one of the largest European manufacturers and distributors of safety, military and specialist footwear with a high safety class. It operates through three factories producing footwear: one in Poland and two in Moldova. The company has been listed on the WSE since 1998. Source
09.05.2022