Mo-Bruk estimates that the first half of 2023 was one of the last periods when energy costs appear in the financial results, because from July 2024 the company will use its own production and will reduce these costs to zero, said Vice-President Rafał Michalczuk .
“For the results of the first half of this year. had, among others impact of energy costs through an increase in energy prices by PLN 1.6 million y/y, but these costs appear in our reports for the last time, because we have our own energy capacity and from July 2024 external energy will be replaced with energy of our own production and the costs will be reduced to zero,” Michalczuk said during a teleconference.
Mo-Bruk announced earlier that it recorded PLN 40.65 million of consolidated net profit in the first half of 2023 compared to PLN 45.6 million profit a year earlier, operating profit amounted to PLN 48.76 million compared to PLN 56 million profit a year earlier, and the profit EBITDA reached PLN 53.66 million against PLN 58.65 million. Consolidated sales revenues reached PLN 112.11 million in the first half of the year. 2023 compared to PLN 111.61 million a year earlier. The company emphasized in the communiqué that it maintained high profitability ratios despite the lack of significant revenues from the neutralization of “ecological bombs” – the EBITDA margin for the first half of 2023 from core operations amounted to 54%.
The Vice-President pointed out that such results were influenced, among others, by the favorable situation on the “basic” market – a stable volume of waste to be processed, as well as rising processing rates, the lack of significant revenues from the processing of “ecological bombs”, and, moreover, an increase in the prices of raw materials for production of aggregates (cement prices increased by approx. 40%) and a decrease in fuel prices at petrol stations, which results in lower revenues. He added that “ecological bombs” are random and one-time events, and the company does not treat them as a permanent source of income.
President Henryk Siodmok emphasized that Mo-Bruk “currently burns record amounts of waste per month and we hope that we will maintain this trend until the end of the year. We are also increasing commercial activity on the market.”
The Mo-Bruk Group states that it is a leader in the Polish industry of processing industrial and hazardous waste as well as selected fractions of municipal waste. The waste company produces alternative fuels, as well as artificial aggregate used e.g. in road construction or as a reclamation material. The company’s shares have been listed on the main market of the Warsaw Stock Exchange since 2012; from 2022 they are included in the mWIG40 index. The company’s consolidated sales revenue amounted to PLN 243.4 million in 2022.