Sescom expects very good results at the end of the financial year

Sescom expects very good results at the end of the current financial year (October 2022 – September 2023), CEO Sławomir Halbryt announced. The Group takes into account the potential IPO of the hydrogen segment in the future.

“Revenue after Q1-Q3 2022/2023 reached the level of the entire previous financial year. In this quarter, we are already working on a significant increase in revenues and we expect very good results at the end of the financial year in this respect. There was also a significant change in the EBIT and EBITDA results, which also gives a chance for an interesting forecast at the end of the year,” said Halbryt during the videoconference.

Representatives of the group reminded that traditionally the fourth quarter of the financial year, next to the first quarter of the financial year, is relatively the most profitable in terms of sales, which strengthens the result potential of the entire financial year.

In Q1-Q3 of the financial year (October 2022 – June 2023), the company had PLN 2.19 million of consolidated net profit attributable to the shareholders of the parent company, compared to PLN 1.11 million of loss a year earlier, with sales revenue of PLN 152.41 million compared to PLN 113.21 million a year earlier. The EBITDA profit reached PLN 11.9 million compared to PLN 4.97 million profit in this approach a year earlier.

The President of Sescom also indicated that he expects the current share of the Polish market in the group’s revenues (approx. 70%) to decrease significantly, which is to be the result of the presence of the British company PCB in the group’s results and the increase in the scale of its operations. In addition, he drew attention to the Construction & Fit out segment, which, in his opinion, is recovering from the pandemic and in which “budgets appear”. This resulted in a three-fold increase in sales in this segment to over PLN 10 million in Q1-Q3 of the group’s financial year.

Earlier, Sescom announced that it had acquired the NDI Group as a partner in the hydrogen segment. The investor provided PLN 4 million in financing. The partners upheld the milestone that SES Hydrogen energy is to achieve in 2024: by the end of the first half of next year, it is planned to bring the project of a 0.5 MW hydrogen boiler to the production version, as well as 2 prototypes of the electrolyser (10 and 50 kW) and start preparing them production line is to take place in the first quarter of 2024. Halbryt stated that market trends confirm the legitimacy of investing in the hydrogen segment. At the same time, investors, as one of the possible exit options, allow the public offering of SES Hydrogen energy and the introduction of shares to trading on the regulated market.

The Sescom capital group specializes in the management and provision of facility management services for network clients (HVAC equipment service, IT infrastructure service and refrigeration, electrical and construction services). The company moved its listing to the main market of the Warsaw Stock Exchange in 2018.

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