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We would like to wish all of our fabulous customers a very Merry Christmas and hope 2017 brings you all the very best health, wealth and prosperity. May your holiday season be filled with love, happiness, joy and peace – IZOBLOK S.A Team.
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IZOBLOK S.A. has been given The International Award “Supplier Performance Award ” from ADIENT – the world’s biggest supplier of car seats. Award is granted for leading and thriving companies for achievements and high market position.
This year, 51 suppliers from all over the world were honored at the Detroit Gala. Awards were given in the following categories: quality, costs, logistics, development, technology and services. IZOBLOK S.A. received the Bronze Supplier Performance Award.
“Adient pays special attention to quality and effective supply management. When awarding the distinctions, strict attention is given to parameters such as quality, cost awareness, logistics, applied technologies or design. Receiving this award is a sign of utmost recognition“. – says Przemysław Skrzydlak, President of IZOBLOK S.A.
Deputy Chairman for global procurement and supply chain at Adient, Kelly Bysouth, commented this event by saying: Congratulations to all our suppliers for aiming at operational excellence in all their endeavors. Thanks to our partners’ dedication, focus and hard work, they contribute to our continuous fulfillment of rigorous customer requirements all over the world.
The IZOBLOK Group ranks first in Europe among manufacturers of EPP (expanded polypropylene) elements for the automotive industry, with a market share of 25 percent. IZOBLOK works for leading international OEM (i.e. Volkswagen, Ford, Audi, Jaguar Land Rover) and TIER brands (YanFeng Automotive, Lear, Faurecia). The demand for products offered by the Group is constantly growing. IZOBLOK currently owns 4 modern manufacturing plants with a total area of 36,000 m2. It manufactured approx. 28 million EPP fittings, using over 5,000 tons of expanded polypropylene. The Company holds prestigious industry and business awards, as well as the status of authorized supplier granted by Jaguar Land Rover (JLRQ), Ford (Q1) and Volkswagen (A Formel Q).
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IZOBLOK has been nominated for the main prize in the Global Leaders of the Future competition (organized since 2014). There will be only 13 of 200 brands in the final stage of this competition.
“Being one among the 13 companies in the last final stage is a prove of our effectiveness in foreign expansion and it gives us a huge load of motivation to keep working and thriving globally with our Capital Group.” – said – Przemysław Skrzydlak, CEO of IZOBLOK S.A.
IZOBLOK was subjected to an audit which assessed the areas of strategy and development, management, innovation and finances. The Global Leaders of the Future competition was created on the initiative of PKO Bank Polski S.A. The competition organized by the Poland, Go Global think tank honors companies which, according to the Competition Chapter, have great potential for achieving international success in their industries. The Global Leaders of the Future competition has been organized since 2014. The Competition Chapter, referred to as the Areopagus, includes entrepreneurs who achieved success on international markets, as well as representatives of institutions which finance and support the international expansion of companies.
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IZOBLOK S.A. has been awarded by FDI Poland Investor Award in two categories: Top Cross-Border M&A Deal of the Year and Top Polish Investor in Germany. In August 2016, after bilateral fulfillment of all transactional conditions, IZOBLOK assumed 100% ownership of the German company SSW PearlFoam. The final transactional amount was a little over EUR 21 million (approx. PLN 91.5 million).
An independent three-person jury consisting of trade advisors at embassies, investment experts and representatives of finance institutions, selected 8 out of 51 Polish companies which achieved considerable success in 2016 as part of an international expansion on DACH countries, USA, China, France or Spain. Selection criteria included Company innovation, strategic significance of transactions for the Polish economy, industry position, size of investment. The fourth edition of the competition was accompanied by an award gala.
The transaction of acquiring our German competitor posed a big challenge to us. That is why I am all the more happy that it was awarded with the best M&A transaction of the year. The acquisition of SSW PearlFoam brings undeniable and absolute synergies in the technological, logistic and sales areas. Not only will their effects reinforce our position in Europe, but it will also allow for undertaking fully global business ventures, which our customers are eagerly waiting for. – says Przemysław Skrzydlak, CEO of IZOBLOK S.A.
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IZOBLOK representatives were talking about R&D works carried out by The Company. The Intelligent Development Forum was held at Exhibition and Congress Center in Jasionka near Rzeszów.
Dr inż. (Doctor of Engineering) Domink Hylewski from R&D department explained the most crucial details connected with a project involving the creation of a new generation of reinforced EPP fittings for the automotive industry. IZOBLOK is a leader in EPP fittings manufacturing. The Company has been on the market since 1998. The Enterprise cooperates with the global leader brands such as Volkswagen, Ford, Audi or Jaguar Land Rover contributing to their success. The demand is getting higher and higher. IZOBLOK exports over 90% of its goods. It owns 4 state-of-the-art plants with total area 36000 sq m. Year by year The Company produces around 28 million pcs of EPP fittings using up over 5000 tons of raw material. It has been awarded many times by various prestigious businesses: Jaguar Land Rover, Q1 from Ford, A Formel Q from Volkswagen, or Forbes Diamonds 2016.
The Intelligent Development Forum is a national business, science and local government event. It offers a response to the 2014-2020 EU perspective. The purpose of the Forum is to create synergies between science, business and local government, as well as to present and promote the achievements of Polish scientists, local authorities, innovative Polish companies and other entities. During the Forum, a debate will be held on innovative economy and intelligent development, as well as on the most important challenges which await the Polish economy. Representatives of local government units, university and research center authorities, as well as members of boards of innovative companies will participate in sectoral discussion panels, training sessions and presentations. Members of the Council of Ministers, Office of the President of the Republic of Poland, of institutions participating in the transfer of EU funds, as well as experts on economy, law and EU funds have also been invited to participate in the panel discussions of the Intelligent Development Forum.
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IZO-BLOK S.A. has closed IQ 2016/2017 with a net income of PLN 2,979 thousand compared to PLN 1,352 thousand for IQ 2015/2016. This is a record-breaking increase in the 18 years of the Company’s history. Sales revenue was at a level of PLN 22,399 thousand and was 8.5% higher than for the same period for the previous year. EBIDTA and EBIT (Earnings Before Interest and Taxes) were at a comparable level as in IQ 2015/2016 and the outcome was PLN 4,475 thousand and PLN 3,326 thousand.
“It was a very demanding quarter for us: issue of shares in order to partially finance the acquisition of our biggest competitor, significant contracts from Jaguar and Johnson Controls. It has been a hard-working time. That’s why I’m happy with the results achieved by the Company. However, another challenge lies ahead. Consolidation.” – says Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
In the 2015/2016 financial year, IZO-BLOK worked out sales revenue of PLN 93.8 million, while EBIDTA achieved the level of PLN 17.1 million. Towards the end of August 2016, the Company assumed 100% ownership of the German company SSW PearlFoam. The IZO-BLOK Group will rank first in Europe among EPP (expanded polypropylene) processing companies and manufacturers of EPP elements for the automotive industry, which generates approx. 90 percent of the Company’s sales revenue. Its market share will equal c25%. The Company has been present on the market since 1998. IZO-BLOK works for leading international brands, i.e. Volkswagen, Ford, Audi or Jaguar Land Rover, contributing to their success. The demand for products offered by the Group is constantly growing. In over 90% of cases, IZO-BLOK serves as exporter. The Group will own 4 modern manufacturing plants with a total area of 36,000 m2. It will manufacture approx. 28 million EPP fittings per year, using over 5,000 tons of expanded polypropylene. It holds prestigious branch and business awards: JLRQ from Jaguar Land Rover, Q1 from Ford, A Formel Q from Volkswagen or Forbes Diamonds 2016.
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Jaguar Land Rover has placed the order for EPP automotive parts worth over EUR 6.5 million from IZO-BLOK. The expected start date for the contract is June 2018. It has been third order from the British concern this calendar year.
IZO-BLOK has been cooperating with the British concern since 2010. In January and March this year, Jaguar Land Rover placed an order for EPP parts worth PLN 26 million. Next to Jaguar, IZO-BLOK’s order book includes customers such as Audi, Volkswagen, Ford, Skoda or Seat, as well as the biggest sub-suppliers of parts for the automotive industry: Johnson Controls, Faurecia, Lear or HP Group.
This contract is the next chapter of this successful and effective cooperation lasting since 2010. I am more then happy that both our products and skills are so highly ranked by Jaguar – says Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
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On August 31, 2016, after bilateral fulfillment of all transactional conditions, IZO-BLOK assumed 100% ownership of the German company SSW PearlFoam. The final transactional amount was a little over EUR 21 million (approx. PLN 91.5 million).
The acquisition of SSW PearlFoam had two financing sources: bank credit and issue of shares. As part of the public offering, an allocation was made of a total of 267,000 D-series shares. IZO-BLOK received PLN 42.72 million as part of the share issuing, while the reduction among individual investors was approx. 61%. SSW Industries granted IZO-BLOK the right to fully and solely use the name SSW PearlFoam for a period of at least 12 months.
The acquisition of SSW PearlFoam brings undeniable and absolute synergies in the technological, logistic and sales areas. Not only will this reinforce our position on the European market, but it will also allow us to act on a fully global scale, which our customers are eagerly waiting for. – says Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
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On August 12–14, the Żywiec Lake will hold the 22nd regatta commemorating Captain Adam Banaszek. Nearly 100 crews will be taking part in the memorial, competing for the Silesian Cup in the Omega class for three days.
The host of the event is the Halny Sailing Club. There will be the following classes: Omega Silesian Cup, Cabin Class up to 650, free Class, Catamaran, 470 Master Silesian Cup. During 22 years of the Memorial’s history, over 4 thousand athletes participated.
The values and rules spread by sailing are close to us. A good sailor is characterized by persistence, teamwork and determination, all the while maintaining a clarity of mind and the ability to make quick and good decisions. That’s how IZO-BLOK operates. Moreover, we are a Company from Silesia which believes that it’s worth supporting valuable initiatives in the region – says Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
Adam Banaszek was the Captain of the Bielsko sail club, who died tragically during a cruise on the Dar Bielska yacht heading for New York for the world celebrations of the 500th anniversary of discovering America. He was remembered as a wonderful man who devoted most of his life to working with teenagers not only as an instructor, but also an educator. He promoted sailing as an attractive sports discipline and a school of life shaping the characters of young people. After his death, a decision was made to commemorate this wonderful man by organizing regatta and, thus, giving birth to a cyclic event.
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IZO-BLOK S.A. closed the 2015/2016 financial year with record-breaking results. Compared to the previous year, sales revenue increased by 17.8% to PLN 93.8 million, the operational profit was higher by 49.4% and in total was PLN 13.47 million, while EBIDTA reached PLN 17.1 million, indicating an increase of 49.1%. Such good financial result is not only the effect of new orders consistently secured by the Company, but also of the optimization of manufacturing processes, so so operating margin was 14.3%.
Surely, the 2015/2016 financial year was a time filled with challenges: we secured significant contracts, including from Jaguar, VW or Johnson Controls; we started and successfully finished negotiations regarding the takeover of our largest competitor, which will allow us to achieve top position on the European EPP processing market for the automotive industry. We achieved a lot. I am pleased both as a shareholder and chairman. However, more challenges still lie ahead. – says Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
In the 2014/15 financial year, IZO-BLOK worked out a net sales income of PLN 79.7 million, EBIDTA of PLN 11.7 million and net income of PLN 11.2 million.
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IZO-BLOK has received a new order from HP Pelzer Holding – one of the largest TIER1 suppliers in the automotive industry in the world. The Company has received an order from the German contractor for the delivery of EPP car parts worth over EUR 8 million (more than PLN 36 million). IZO-BLOK has been cooperating with HP Pelzer for more than 15 years.
The expected start date of putting order into effect and kick off with deliveries for HP Pelzer is November 2017. While the lead time is foreseen for a period of 7 years. IZO-BLOK has been cooperating with HP Pelzer since 2001. There are also other other key customers being a part of TIER1 group and cooperating with IZO-BLOK as: Lear Corporation, Faurecia, Johnson Controls czy YanFeng Automotive Interiors.
We make hay while the sun shines. We are very active and business oriented despite having a big challenge with shares issuing back in June this year. I think it is a very positive step both for our shareholders and potential ones – said Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
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As a IPO there is 267,000 D-series shares. IZO-BLOK gained PLN 42.72 million from shares issuing. Listings of the rights to D-series shares at the WSE are forecasted around July 22, 2016.
The issue price for one IZO-BLOK S.A. share was PLN 160. 267,000 D-series bearer shares were properly paid and subscribed. In the tranche for individual investors, allocation of 13,350 D-series shares was done, while in the tranche for institutional investors – 253,650 D-series shares were allocated. Reduction among individual investors equaled approx. 61%.
The interest among investors was big. They appreciated what we had done so far. Our strategy was convincing – says Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
Even though we were dealing with very difficult market conditions, investors declared the willingness to assume our shares at a price which makes our goal real and within arm’s reach. We are moving forward and I’m very happy about it – he adds.
The Lead Manager in the public offering process is Bank Zachodni WBK S.A., while the legal advisor is Olesiński i Wspólnicy Sp.k. (limited partnership).