Ferro had PLN 107.82 million in net profit in 2021, as revenues soared 60%

Ferro recorded PLN 107.82 million of consolidated net profit attributable to shareholders of the parent company in 2021 compared to PLN 62.08 million of profit a year earlier, the company said.

The operating profit amounted to PLN 106.61 million versus PLN 75.77 million profit a year earlier.

Consolidated sales revenues reached PLN 830.5 million in 2021 compared to PLN 519.09 million a year earlier.

“In 2021, the Ferro Group recorded high, double-digit sales dynamics both on key foreign markets and on the Polish market. In Poland, sales doubled yoy to PLN 382.7 million, and on foreign markets it increased by over 30%. In 2021, foreign sales accounted for 54% of the group's revenues. The highest revenue dynamics in 2021 was recorded in Hungary (+ 57%) and Romania (+ 32%), which is the Group's largest foreign market. Sales in the Czech Republic also increased significantly (+ 20% yoy) - a mature market which is the second largest foreign market in terms of sales of the group. Slovakia also achieved a very good result (+ 8% y / y), despite being under the influence of severe pandemic-related restrictions for a long time. The youngest markets of the group, including the Baltic states and the Balkans, included in the geographic segment "other", increased their revenues to PLN 85 million, ie by 75% y / y."

“Last year's sales of the group grew dynamically in all key markets and in all our main operating segments. Thanks to experience and very good relations with our partners as well as continuous work on improvements in the area of ​​logistics, even with such a large scale of operations, we smoothly supply all our customers. We made ourselves known as a reliable partner - also during the COVID-19 pandemic - and our ambition is to maintain this status ”- commented Vice President Aneta Raczek.

On a standalone basis, the net profit in 2021 amounted to PLN 64.14 million, compared to PLN 66.21 million profit a year earlier.

Ferro is one of the largest producers and distributors of sanitary, installation and heating technology in the region of Central and Eastern Europe. Ferro has been listed on the main market of the Warsaw Stock Exchange since 2010.

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