Polwax had PLN 4.79 million of net profit, PLN 7.6 million of EBIT profit in 2021

Polwax recorded PLN 4.79 million of standalone net profit in 2021 compared to PLN 3.03 million profit a year earlier, the company said in the report.
The operating profit amounted to PLN 7.6 million compared to PLN 5.88 million profit a year earlier.

Unit sales revenues amounted to PLN 271.94 million in 2021 compared to PLN 216.52 million a year earlier.

"The change in the year-on-year result was mainly due to the reduction of selling costs and general administrative expenses [...] with the market trend of a significant increase in all operating costs due to the increase in prices of raw materials and energy and the need to adjust the price expectations of contractors to the realities on the market resulting from the aforementioned increase in costs "- we read in the management report.

Polwax is one of the largest producers and distributors of industrial paraffin in Europe and a leader in this industry in Poland. It has plants in Jasło and Czechowice-Dziedzice. The company debuted on the WSE in 2014. Its sales revenues reached PLN 271.94 million in 2021.

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