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Eagles of Export 2016 goes to IZO-BLOK
IZO-BLOK received the 2016 Regional Eagles of Export award in the Best Exporter category. The competition is organized by the Rzeczpospolita newspaper.
The export potential of the Polish economy is huge. Our Company has been operating on the European market as an exporter since its beginning. Step by step, we are strengthening our position. After closing the transaction of acquiring the German company SSW PearlFoam which is our main competitor at the moment, we will become the market’s leader. However, our plans do not end with this. This is our first, very serious step towards global expansion. This award is important to us because it shows that consistent actions lead to results. – comments Przemysław Skrzydlak, CEO of the Board of IZO-BLOK S.A.
The Regional Eagles of Export competition, organized by the Rzeczpospolita newspaper, is part of the Export Development Program. The program is an initiative of Bank Zachodni WBK, executed together with contents partners. These include: Google, the Export Credit Insurance Corporation, the Bisnode credit bureau, the Crido Taxand consulting firm and the KPMG Company. The Export Development Program is accompanied also by the ministries of foreign affairs and development. The purpose of the program is to support Polish exporters in doing international business. The competition recognizes and awards regional export leaders.
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IZO-BLOCK gets contract from AUDI AG for PLN 30 million PLN
IZO-BLOK has been given a new order from AUDI AG. The Company has received an order for the supply of EPP car parts from the German contractor. The value of the contract is over EUR 7 million (over PLN 30 million).
The estimated kick-off date for the Ingolstadt (DE) company is October 2017. and the lead time is forecasted for 5 years. Next to the German AUDI, IZO-BLOK’s portfolio includes customers such as Jaguar Land Rover, Volkswagen, Ford, Skoda or Seat, as well as the biggest sub-suppliers of parts for the automotive industry: Yanfeng Automotive Interiors, Johnson Controls Faurecia, Lear or HP Group.
This is good news not only for us, but also for our shareholders. We are very restrictive in implementing our declared development strategy. The commitment to quality of service and business relationships is a key to success – said Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
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IZO-BLOK shows the best results in the Company’s history
AFTER the third quarter of the Financial Year 2015/2016, THE TOTAL sales revenue increased by 15.3% compared to the corresponding period of the previous year. EBITDA was up 48,8% compared to the same period of the previous year and amounted to 14,017 thousand PLN. The profit on sales after the third quarter of 2015/2016 was PLN 11.163 thousand PLN and rose by 38.1%. While the increase in costs from operating activity rose 11.6 percent. Such good results were undoubtedly influenced by: higher revenues and gross margin on sales and further optimization of production processes
The operational profit was shaped at the level of PLN 11,511 ths and increased by 50.7% compared to Q3 from the previous year. Meanwhile, recognizing negative valuation effects of derivative financial instruments in the total amount of PLN 6,749 ths (reversing valuation effects as of 4/30/3015 and recognizing valuation effects as of 1/31/2016) had a direct impact on the decrease of net income by 66.8% compared to Q3 for the previous Financial Year.
The financial figures for the three quarters of the 2015/2016 Financial Year show our best results until now, what makes us happy ans I hope our investors are satisfied as well. Takeover of the German company SSW PearlFoam will give us a leading role on the European EPP processing market for the automotive industry – says Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
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IZO-BLOCK has signed a contract with the SSW Industries Fund
The Board of IZO-BLOK S.A. signed a contract with SSW Industries for the acquisition of 100% shares in the German company SSW PearlFoam GmbH. The transaction amount will equal EUR 21.5 million.
The acquisition value of shares at SSW PearlFoam is EUR 21.5 million. The purchase of the German company will probably be financed from two sources: a bank credit and issue of shares. The parties of the transaction have granted mutual bank guarantees regarding securing liability and payment.
The acquisition of SSW PearlFoam brings undeniable and absolute synergies in the technological, logistic and sales areas. This will strengthen our position both on the European as well as global market. Today we have closed an important stage in the development of our Company. – says Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
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 transaction will be considered closed and IZO-BLOK will take over all rights to the German entity after payment of the share acquisition price.
The remaining details of the transaction, pertaining to conditions of renouncing the contract and contractual penalties, have been described in RB 5/2016.
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IZO-BLOCK is finalizing negotiations on the acquisition of 100% shares in SSW PearlFoam
The Board of IZO-BLOK S.A. proceeded to the final stage of negotiations and, thus, to determining the final contents of the contract for acquisition of 100% shares at SSW PearlFoam GmbH. Company’s Supervisory Board agreed to the acquisition of shares and concluding of the contract for acquisition with the SSW Industries GmbH fund.
Our goal is to close all issues related to the possible transaction between March 8 and 14 – specifies Przemysław Skrzydlak, CEOof IZO-BLOK S.A.
The Issuer will announce the signing of the contract or the failure of negotiations in a separate current report. IZO-BLOK S.A. is considering the public issuance of shares in relation to the planned acquisition. If the transaction is successful, IZO-BLOK plans to allocate all resources obtained from the issuance to the partial financing of the acquisition of the German company. Details regarding possible issuance will be announced in the notice regarding the Extraordinary General Meeting of Shareholders.
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IZO-BLOK with two prestigious awards from Yanfeng Automotive Interiors for best suppliers
IZO-BLOK has received two prestigious awards from Yanfeng Automotive Interiors – a world tycoon in the area of comprehensive supply of components for the largest automotive concerns in the world: the Platinum Supplier Performance Award and the Leadership Award in the Customer Satisfaction category. Yanfeng Automotive Interiors was established as a result of a Joint Venture transaction between Johnson Controls and Yanfeng.
IZO-BLOK is the only supplier in the entire history of Johnson Controls and Yanfeng to date, which received such a high distinction – a platinum award for excellent quality at all stages of the cooperation. We have also been appreciated as a Company which pays special attention to customer satisfaction. This second distinction is all the more important to us, because while executing often advanced and very difficult projects for YAI, we continue to be a very reliable partner. These awards are a sign of the utmost recognition for the way we do business and for its quality – says Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
In April 2015 the Company moved from the NewConnect market to the WSE. The main recipients of the Company include entities related to the automotive industry (they generate 90% of annual revenue), logistics and protective packaging. The Company supplies its products to such concerns as Audi, Volkswagen, Ford, Skoda, Seat, or Jaguar Land Rover. The Company also cooperates with sub-suppliers such as: Johnson Controls, Faurecia, Lear or HP Group.
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IZO-BLOK has successfully completed the due diligence of SSW PearlFoam
IZO-BLOK has successfully completed the due diligence review of SSW PearlFoam GmbH. The German company is currently owned by the SSW Industries fund. Both sides signed up an agreement which gives IZO-BLOK exclusive rights to continue negotiations regarding the acquisition of 100% shares of SSW PearlFoam.
The result of the due diligence review is positive. However, some of the issues under review are still the subject of detailed verifications and clarifications. The closing of negotiations aimed at the acquisition of 100% shares of SSW PearlFoam by IZO-BLOK is planned still for February 2016.
We have concluded the due diligence review and we are happy with the results. We are still facing issues related to clarification of the final financing conditions and structure. We would like to close the negotiations still this month. I hope this will be possible – explains Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
IZO-BLOK S.A. is considering the public issuance of shares in relation to the planned acquisition. If the transaction is successful, IZO-BLOK plans to allocate all resources obtained from the issuance to the partial financing of the acquisition of the German company. Details regarding possible issuance will be announced in the notice regarding the Extraordinary General Meeting of Shareholders.
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Forbes Diamond 2016 for IZO-BLOCK
IZO-BLOCK was awarded the Forbes Diamonds 2016. The company ranked 3rd on the list of Silesia Voivodeship with sales revenues for 2014 at almost 77 million PLN and over 8 million PLN net profit. This represents an average increase in value between 2012 and 2014 of more than 57%.
Each year, the Forbes monthly applies the Swiss method for assessing Company value and takes into account the financial results, property value and data regarding sales level, net income, liabilities as well as investment expenditures of numerous companies. Based on this, it creates a ranking of companies which have most dynamically increased their value in the lasts 3 years. The awarded companies are divided into three categories according to sales revenue. In the 2016 edition, IZO-BLOK came in 3rd in the Silesian province (52nd in the national ranking), with a value increase indicator of more than 57% in the category of PLN 50–250 million medium-sized companies. 1,716 companies were among the Diamonds.
The Forbes Diamond is proof to the fact that a well-tailored business vision and long-standing consistency in its execution lead to results. The dynamic development of a Company is possible even in times of struggle for the world economy. Our strategic goal is the development and systematic increase of market share – comments Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
Since the beginning of 2015, despite the unfavorable stock market conditions, the Company’s industrial listing has increased by nearly 145%. In April 2015, the Company moved from the NewConnect market to the Stock Exchange. The company’s main customers are companies related to the car industry (generating 90 percent of annual revenues), logistics and protective packaging. The company supplies its products to the Audi, Volkswagen, Ford, Skoda, Seat and Jaguar Land Rover groups, and cooperates with suppliers such as Johnson Controls, Faurecia, Lear and HP Group.
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IZO-BLOK expands cooperation with Jaguar Land Rover
IZO-BLOCK is strengthening cooperation with Jaguar Land Rover.The Company has received another order for the supply of EPP car parts from the British contractor. This time the contract value exceeded EUR 3.6 million (roughly PLN 16 million).
The total value of the contract with Coventry (UK) exceeded 10% of the sales revenue for the last four financial quarters. The estimated date for the start of the contract was July 2017. Jaguar Land Rover has been cooperating with IZO-BLOK since 2010. Apart from British Jaguar, IZO-BLOCK delivers its goods to such customers as Audi, Volkswagen, Ford, Skoda and Seat, as well as the largest automotive component suppliers: Johnson Controls, Faurecia, Lear and HP Group
The commitment to quality of service and business relationships has a tangible results.. We are not going to go off-road , says Przemysław Skrzydlak, CEO of IZO-BLOCK S.A.
Since the beginning of this year, despite the unfavorable stock market conditions, the company’s industrial listing has increased by nearly 145%.In April this year the Company has moved from the NewConnect market to the Stock Exchange. The company’s main customers are companies related to the car industry (accounting for 90% of annual revenues), logistics and protective packaging. The Company supplies its products to the following companies: Audi, Volkswagen, Ford, Skoda, Seat or Jaguar Land Rover. Moreover it cooperates with sub-suppliers like Johnson Controls, Farecia, Lear and HP Group.
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145 % of the share value increase, prestigious awards – IZO-BLOCK sums up 2015
IZO-BLOCK S.A. sums up the previous calendar year: Increase in value of shares by more than 145%, two prestigious awards, obtain a valid certificate for the Chinese market, new significant orders coming up in the order book. Furthermore in 2015, the Company’s shares were included in the Nobel Securities and DM BPS portfolios.
2015 is a thriving year for the enterprise due to gaining orders from such clients as Jaguar Land Rover, Johnson Controls and Farecia, the value of the contracts is worth 50 million PLN.
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 the price per one share was PLN 22.9. Since then, the price increased by 560%. In 2015, the price of IZO-BLOK shares increased by 140%. Noble Securities and DM BPS included the shares in their fundamental portfolios.
2015 brought about two important awards: The Automotive Experience Seating Supplier Performance Award from Johnson Controls, a world tycoon in the area of comprehensive supply of components for the largest automotive concerns in the world, and the 2015 Polish Supplier – a distinction for the best suppliers in the automotive industry. Moreover, in 2015 IZO-BLOK received the CCC (China Compulsory Certification) certificate which opens up an export path to China.
The year 2016 may be even better for IZO-BLOK than 2015. Currently, the Company is conducting negotiations aimed at the acquisition of 100% shares at the German automotive Company SSW PearlFoam GmbH. The possible execution of this transaction will allow IZO-BLOK to assume the position of undisputed leader on the European market of EPP processing for the automotive industry.
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IZO-BLOK shows a 49% EBIDTA increase after the first half of 2015/2016
After the first half of the Financial Year 2015/2016, IZO-BLOCK S.A. noted an increase in sales revenues from the corresponding period of the previous year by 14.9 percent of EBITDA was 49.4 percent higher compared to the same period of the previous year and amounted to 8.103 thousand PLN. The profit on sales after two quarters of 2015/2016 was PLN 6.535 thousand and rose by 43.9 percent and the increase in costs from operating activity rose by only 10.7 percent. Such good results were undoubtedly influenced by higher sales revenues and gross margin and further optimization of production processes.
The operational profit was shaped at the level of 6.533 thousand PLN and increased by 53.4% compared to the first half of the previous year. Meanwhile, recognizing negative valuation effects of derivative financial instruments in the total amount of 4,018 thousand PLN (reversing valuation effects as of 4/30/3015 and recognizing valuation effects as of 10/31/2015) had a direct impact on the decrease of net income by 61.3% compared to the first half of the previous financial year.
When analyzing the financial data for the two quarters of the 2015/2016 financial year, it is worth noting the sustained good profitability at the sales level as well as EBIDTA. Both the sales revenue as well as the results worked out for the first half of 2015/2016 fulfilled our expectations – said Przemysław Skrzydlak, CEO of IZO-BLOK S.A.
Currently, the Company is in negotiations regarding the acquisition of 100% shares of the German company SSW PearlFoam GmbH operating in the automotive industry. The possible execution of this transaction will allow IZO-BLOK to assume the position of undisputed leader on the European market of EPP processing for the automotive branch.
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IZO-BLOK with CCC certificate
THE IZO-BLOCK has received a CCC certificate from the China quality Certification Center (CQCC), or China Computing Certification. Since 2003, this certification has been necessary to export products to China, including automotive subcontractors, manufacturers and exporters of automotive products and components that will be shipped to the Chinese market.
Getting the CCC (China Compulsory Certification) label is required for exporting or manufacturing and selling most products in China. For products or cars made up of our products that are so important for quality and safety of use, they must be certified as CCC for export to the Chinese market.The procedure for obtaining this certificate lasted more than half a year and required a number of tests, including sending technical specifications and samples of our products to the CQCC. The final stage was an audit of our plant by Chinese inspectors. All tests, including the audit, have passed the CCC certification, says Przemysław Skrzydlak, CEO of IZO-BLOCK S.A.
