Pfleiderer Grajewo Kept Its Revenues Stable and Posted an Increase in Earnings Figures

Pfleiderer Grajewo kept its revenues stable and posted an increase in almost all key earnings figures compared with the prior-year period between January and June 2013. This came despite the rather unfavourable market climate in Poland. Operating income from continuing operations grew 8.2 % to stand at PLZ36.8m or €8.7m. Net financial expenditure was almost cut in half to -PLZ15.7m (-29.5m) mainly on the back of lower interest payments, boosting pre-tax profits to PLZ21.1m. Including tax payments of PLZ6.0m (2.2m), the company booked net profits from continuing operations of PLZ15.1m, of which PLZ10.7m was generated in the second quarter. The proceeds from the 23 January sale of Pfleiderer OOO and divestment of MDF/HDF assets belonging to Pfleiderer MDF OOO, which were recorded in the first quarter, pushed net income from non-continuing operations to PLZ101.1m. Pfleiderer Grajewo thus posted total net income of PLZ116.3m, with majority shareholders accounting for PLZ110.1m and minority shareholders for PLZ6.1m.