Congor expects a very good Q2

Cognor expects Q2 to be at least as good as Q1, said management board member and financial director Krzysztof Zoła. Throughout the first half of the year, EBITDA may amount to PLN 350-400 million.

“We expect a very strong second quarter. Prices not only increased after the outbreak of the war, but also remained. You can expect the second quarter to be at least as good as the first quarter, ”said Zoła during the press conference.

He indicated that part of the market is afraid of further price increases after cutting off natural gas supplies to Poland, but it is not certain whether this will happen.

The company still expects good GDP dynamics and good economic situation for its customers.

Cognor recorded PLN 148.04 million of consolidated net profit attributable to shareholders of the parent company in Q1 2022 compared to PLN 43.04 million profit a year earlier. The EBITDA result reached PLN 192.4 million compared to PLN 80.08 million a year earlier.

Cognor Holding was established in 1991, initially dealing with the trade of metallurgical products. It has been listed on the WSE since 1997, and since 2006 it has become part of a larger industrial group dealing with the production of steel products and trading in metal scrap. Currently, it is a holding unit of a capital group comprising a dozen or so entities operating mainly in Poland. Consolidated sales revenues reached PLN 2,811 million in 2021.

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