The Polish manufacturer of construction chemicals has increased sales revenue for the three quarters. The corresponding message published in the press centre of Selena Group.
Sales revenues reached PLN 1.49 billion (approximately EUR 317.13 million), up 16.3% YoY. The Group's operating profit (EBIT) increased by 42.3% to PLN 120.6 million (EUR 25.67 million), and net profit increased by 34.3% compared to the year-ago period.
The three quarters were not easy for the world and the construction industry. Supply chain disruptions, uncertainty in raw material markets and rising inflation affecting the construction market were exacerbated by the russian-Ukrainian war.
Selena Group has adopted a strategy of flexible response and adaptation to market requirements. According to Selena Group CEO Jacek Michalak, the efforts were aimed at reducing working capital. It had the desired effect. And the company will keep this strategy for the next periods.
The Group reoriented sales from Eastern markets to Western Europe and the United States. After the third quarter of 2022, the EU segment generated 62% of Selena Group's sales revenue, and the Polish market - 33%.
According to Jacek Michalak, due to rising energy costs, the trend of the thermal modernization will remain an important factor for the construction industry. The company calls it a megatrend.
Selena has recently launched the ETICS Thermo Pro Tytan Professional on the market. The product is a part of a composite system of the external thermal insulation. The company estimates that the system can reduce bills by up to 60%.
Photo: Selena Group
Jacek Michalak, CEO of Selena Group
Selena Group reported a profit for the three quarters of 2022
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