Selena had PLN 102.67 million in net profit, and PLN 92.71 million in EBIT in 2021

Selena recorded PLN 102.67 million of consolidated net profit attributable to shareholders of the parent company in 2021 compared to PLN 74 million of profit a year earlier, the company said in the report.

The operating profit was PLN 92.71 million versus PLN 127.18 million a year earlier.

Consolidated sales revenues amounted to PLN 1,587.84 million in 2022 compared to PLN 1,273.26 million a year earlier.

“Significant factors that destabilized the market situation were the dynamically changing prices and availability of raw materials, as well as the constraints still encountered, especially in the first months of the year, related to the pandemic. Acting flexibly and adjusting the strategy to individual markets, Selena Group made decisions on updating the price lists on an ongoing basis. However, the significant increase in costs was reflected in the decrease in gross profitability on sales, which at the end of the year amounted to 27.8% and was lower by 6 percentage points. y / y ”- we read in the press release.

“We are looking for opportunities to allocate capital in the market. Due to the lack of availability of interesting projects that meet our requirements, we decided to partially allocate the capital to purchase of own shares. Our investment budget remains stable, and we consider the use of capital to buy back our own shares a very good investment. In our opinion, the value of our shares remains underestimated, so we decided to take advantage of the existing opportunities, ”said Jacek Michalak, CEO of Selena.

On a standalone basis, the net profit in 2022 amounted to PLN 43.55 million compared to PLN 75.38 million profit a year earlier.

The Selena FM Group is a global producer and distributor of construction chemicals. The main brands are Tytan, Artelit and Spanish Quilosa. It is one of the world's three largest producers of polyurethane foam used in the assembly of windows and doors. Selena's production plants are located in Poland, Brazil, Korea, China, Romania, Turkey and Spain. In 2008, the company made its debut on the Warsaw Stock Exchange. Its consolidated sales revenues reached PLN 1.38 billion in 2020.

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