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Business Gazelle for IZOBLOK S.A.
IZOBLOK S.A. was awarded during XVII Edition of Gazela Biznesu (Business Gazelle) thanks to 124% revenue growth in 2013-2015. The first time company was published in a ranking by PULS BIZNESU in 2014.
IZOBLOK S.A. reached 277 position of 483 enterprises qualified from Silesian Voivodeship in the ranking of Gazele Biznesu 2016 . While in the national ranking – IZOBLOK reached 2629 position of 4386 companies from all Poland.
The fact that we are in this ranking is nothin but proof that we are going a right way. It makes us happy and gives us motivation for future – said Przemysław Skrzydlak, CEO of IZOBLOK S.A.
The Business Gazelle ranking has been running continuously since 2000. It classifies the most dynamic growth companies in the SME sector in Poland. The ranking was authored by Coface Poland, the economic intelligence responsible for the verification of financial data. The summary shall be published annually in the form of a special edition attached to the ‘Puls Biznesu’
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IZOBLOK gets a new contract from AUDI AG for over 30 mln PLN
IZOBLOK has got a new deal from AUDI AG. The company had been given the order for car parts made from EPP. Total contract value is 7 million EUR (over 30 mln PLN).
We expect to start putting order into effect for our customer in October 2018. Project is expected to be closed in 2026. There is no any special terms & conditions in the order, just typical ones for this sort of deal. The order was not subjected to any condition or a time limit.
This is a good news both for us and our shareholders. We are very restrictive in implementing our declared development strategy. The commitment to quality of service and business relationships is a success – said Przemysław Skrzydlak, CEO of IZOBLOK S.A.
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IZOBLOK shows first consolidated results after successful M&A transaction
After the first half of the 2016/2017 Financial Year, IZOBLOK shows its first financial results already as a Corporate Group. Sales revenue was PLN 67,615 thousand, while the profit was PLN 6,436 thousand. The EBIDTA was at a level of PLN 11,090 ths. As a unit level, IZOBLOK S.A. reached sales revenue at a level of PLN 45,853 thousand and a profit of PLN 5,992 thousand, which was higher compared to corresponding period by 334%. EBITDA reached PLN 9,533 thousand compared to corresponding period from the previous year, where it was PLN 8,103 thousand – that givs 17.7 % growth. Sales revenue after two quarters of 2016/2017 reached PLN 7,401 thousand and increased by 13.25%, while operational costs increased only by 8.9%.
The profit in unit terms on operating activity was at PLN 6,86,5 thousand and increased by 6,95 % compared to the first half of the previous year.
When analyzing the financial data for the two quarters of the 2016/2017 financial year, it is worth noting the sustaining good profitability at the individual and consolidated sales levels as well as EBIDTA. Both the sales revenue as well as the results worked out for the first half of 2016/2017 fulfilled our expectations. It was a very demanding year for us: issue of shares in order to partially finance the acquisition of our biggest competitor, significant contracts, consolidation and rebranding activities. This was a time of a very intensive work. I am very satisfied that we have managed to execute and achieve so many good things in those two quarters – says Przemysław Skrzydlak, CEO of IZOBLOK S.A.
The main impact on last year order book had deals with Audi, Jaguar Land Rover, Johnson Controls oraz HP Pelzer Group – in total roughly 30 million EUR. The Company’s shares are in the long-term upward trend. Shares have been going up since kick-off in December 2016. At that time there was 22,90 PLN per one share while at the end of 2016 178,55 PLN/ share. Recommendation od “BUY IT” was given by DM Noble Securities and DM BZ WBK with target level estimated at pln 205 per share and pln 245 per share, respectively. A successful deal M&A – takeover of the biggest German competitor SSW Pearl Foam GmbH wich was partly-financed by the June issue of shares, it was considered a transaction of the year and awarded Top Cross-Border M&A Deal of the Year and Top Polish Investor in Germany at FDI Poland Investor Awards. Thanks to this deal IZOBLOK became the established market leader in EPP manufacturing market for automotive industry. Since the end of August 2016 together with SSW Pearl Foam GmbH, IZOBLOK S.A. has formed a Capital Group with a share of 25% in the European EPP market. Moreover the Company was awarded by Forbes Diamonds and The Eagles of Export as well as by ADIENT (the world’s biggest car seats supplier) – with Bronze Supplier Performance Award.
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IZOBLOK is summing up the year 2016
IZOBLOK S.A. is summing up the previous calendar year : successful M&A deal and 100% shares takeover from German company – SSW PearlFoam. Furthermore 8 prestigious awards and new orders. Moreover, in 2016 the company’s shares received a “purchase” recommendation from Noble Securities and DM BPS.
The portfolio of last-year contracts of IZOBLOK included mainly orders from Audi, Jaguar Land Rover, Johnson Controls and HP Pelzer Group for a total of nearly EUR 30 million. The company shares are on a long-term increase tendency. The shares have been going up in price since the debut in December 2011. At that time, one Company share was sold for PLN 22.9, compared to PLN 178.55 at the end of 2016. DM Noble Securities and DM BZ WBK issued “purchase” recommendations with a target level estimated at PLN 205 per share and PLN 245 per share, respectively.
IZOBLOK S.A. closed IQ 2016/2017 with a net income of PLN 2,979 ths compared to PLN 1,352 ths for IQ 2015/2016. This is a record-breaking increase in the 18 years of the company’s history. Sales revenue were at a level of PLN 22,399 ths and were 8.5% higher than for the same period previous year. EBIDTA and operational profit were at a comparable level as in IQ 2015/2016 and equaled PLN 4,475 ths and PLN 3,326 ths, respectively.
The successful M&A transaction – IZOBLOK’s acquisition of the largest competitor, SSW Pearl Foam GmbH, partly financed by the June share issuing – was deemed the transaction of the year and awarded with the Top Cross-Border M&A Deal of the Year and the Top Polish Investor in Germany at the FDI Poland Investor Awards. Thanks to this transaction, IZOBLOK became the undisputed leader on the European market of EPP processing for the car industry. Since the end of August, 2016, IZOBLOK S.A. and SSW Pearl Foam GmbH have been acting as a Capital Group, with a 25% share on the European EPP market.
Moreover, IZOBLOK became a laureate of the prestigious Forbes Diamonds rank, the Eagles of Export, as well as a finalist of the Global Leaders of the Future competition, Poland GO GLOBAL!
The year 2016 brought about also important branch awards. The company has been appreciated by ADIENT, the largest supplier of car seats in the world, by receiving the Bronze Supplier Performance Award, as well as twice by Yanfeng Automotive Interiors, a world tycoon in comprehensive delivery of components for the biggest car concerns in the world – receiving the Platinum Supplier Performance Award and the Leadership Award.
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Merry Christmas and Happy New Year 2017
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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A prestigious ADIENT award goes to IZOBLOK
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 nominated in the national Global Leaders of the Future competition
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 awarded for M&A Deal of the Year
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 at the Intelligent Development Forum
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 doubles its profits
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 orders EPP parts worth PLN 28 million from IZO-BLOK
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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Acquisition closed – IZO-BLOK the owner of SSW PearlFoam
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.
