Bowim steel group reports record quarter

Bowim S.A., one of the main steel distributors on the Polish market, recorded the highest quarterly financial results in its history in the last six months: 111 million pln net profit. The record profitability is the result of rapid increase in prices of steel products in the first half of this year.

The Group also achieved operating revenues of PLN 981.2 million and operating profit of PLN 150.0 million.

The positive financial results of the Company are the result of an upward trend in the prices of steel products, unprecedented in its dynamics. It was initiated in the middle of the fourth quarter of last year and was continued also in the first half of this year. The combination of consistently implemented product expansion and increasing market share had a positive impact on the results achieved.

“In the last quarter, the prices of steel products consistently continued to increase, thanks to which we were able to record record results. We believe that we used this period to the maximum, thanks to which we are prepared to obtain satisfactory results in the following periods. Undoubtedly, the entire year 2021 will be a record year for us” – comments Jacek Rożek, Vice President of the Management Board of Bowim S.A.

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