News
NEWAG Group’s profits on the rise
NEWAG Capital Group reported very good financial performance in the first three quarters of 2014. The net profit skyrocketed by 363% and EBIDTA rose by 146% as compared with the same period of the previous year. The performance of NEWAG Capital Group as well as the performance of its dominant unit correspond to the Board’s expectations.
In the period from January 1 to September 30, 2014, sales revenue amounted to PLN 709.4 million and was by PLN 288.3 million (+68,4%) higher as compared with the same period of last year. The increase in sales revenue was accompanied by a rise in gross sales profit by PLN 70,6 million (+333,8%) as well as in the net profit by PLN 56.9 milion (+365,4%). EBITDA amounted to PLN 121.1 million and was higher by PLN 71.9 million (+145,8%) on a year-to-year basis.
NEWAG’s net profit reached PLN 71.4 million with the sales revenue at PLN 631.7 million.
The Group’s financial performance is consistent with the Board’s expectations and enable it to maintain the forecast projected in its IPO prospectus which is reaching the sales revenue levels of PLN 919 million, net profit of PLN 79 million, and EBITDA at the level of PLN 136.5 million.
No unusual or one-time factors had an impact on the performance in the period in question in 2014.
The order portfolio is increasing. In the third quarter of 2014 alone, the Group signed contracts to the tune of PLN 120.5 million. Moreover, Koleje Mazowieckie have selected an offer submitted by NEWAG S.A. to supply twelve five-unit electric multiple units of the net value of PLN 209 million. It is expected that the contract will have been signed by the end of this year.
