Herkules had PLN 0.66 million of net profit, PLN 5.77 million of EBIT in 2021

Herkules recorded PLN 0.66 million of consolidated net profit attributable to shareholders of the parent company in 2021 compared to PLN 4.37 million of profit a year earlier, the company said in the report. The operating profit amounted to PLN 5.77 million compared to PLN 10.65 million profit a year earlier. Consolidated sales revenues reached PLN 163.64 million in 2021 compared to PLN 150.56 million a year earlier.

“The slowdown in the activity in the assembly and construction production sector visible in 2020 had a significant impact on the results of the core business of Herkules S.A. in the first half of 2021. In the first half of 2021, the company implemented commercial agreements concluded during the COVID-19 pandemic, characterized by a relatively low margin with a simultaneous low use of the hardware base. As the financial year 2021 progressed, the company increased the degree of utilization of its machine park from 56% in January 2021 to nearly 80% in December 2021. Despite the economic conditions improving during the year, the results of the second half of 2021 did not allow for making up for weaker sales, observed in the first months of 2021. Ultimately, unit sales revenues of Herkules S.A. in 2021 they were over 7% lower than the revenues of the previous year. The decrease was mainly due to the lower activity of the tower cranes section, which is responsible for nearly 50% of sales of Herkules S.A., where the decrease in sales revenues was 13% compared to the previous year. Contrary to the situation of the parent company, record sales in 2021 were recorded by the subsidiary Gastel Prefabrykacja S.A. The achieved revenue value is over PLN 40 million, which means an increase by 67% compared to 2020. Part of this volume was intended for the implementation of the GSMR project (for Herkules Infrastruktura Sp.z o.o. and other unrelated entities), but almost 16 million PLN is external sale for projects acquired outside the railway contract. Significant increase in the level of sales observed at Gastel On a standalone basis, the net loss in 2021 amounted to PLN 8.06 million compared to PLN 9.61 million loss a year earlier.

Herkules is a supplier of equipment services in the field of rental of lifting equipment and oversized transport. It also provides construction and assembly services related to the construction of cubature facilities, wind farms and telecommunications and energy facilities. It has been listed on the WSE since 2006.


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