Back 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.
