Back IZOBLOK SUMMARISES 3Q 2024
After three quarters of the financial year 2024, covering the period from 01.01.2024 to 30.09.2024, the IZOBLOK Group generated operating income of PLN 184.4 million, consolidated operating profit amounted to PLN 8.2 million and was PLN 3.2 million higher than consolidated operating profit in the corresponding period of the previous financial year. Consolidated EBITDA stood at PLN 16.0m, 12.8 per cent higher than in the comparative period. At the unconsolidated level, revenue amounted to PLN 98.2 million, an increase of 7.5% compared with the first half of 2022/23, standalone operating profit amounted to PLN 1.7 million, while standalone EBITDA amounted to PLN 5.7 million and net profit to PLN 2.9 million.
Referring to the financial results achieved in the reported period, Przemysław Skrzydlak, CEO, said:
“The figures for the three quarters of the financial year 2024 confirm the improvement in the Company’s operating result at the individual and consolidated level. The IZOBLOK S.A. Group, despite the crisis in the industry, is decisively accelerating strategic investments that will bring tangible effects in the future improving revenues and operating profitability, as well as increasing the security and independence of material supply.
Currently, the group’s activities are focused on the implementation and launch of numerous contracts, which the Company has previously announced in its regular reports. The market is seeing a correction in production volumes in BEVs in particular. We are noticing a trend of extending the production period of older projects, mainly for cars with classic drive.
Energy prices, wage costs, increases in service costs and the strong zloty continue to effectively impede growth in operating profitability despite increased production. Despite the not-so-good condition of the industry as a whole, IZOBLOK is developing steadily and has good growth prospects, thanks to its market position and highly diversified customer portfolio.
In the reporting period, IZOBLOK did not experience any payment bottlenecks from counterparties and the execution of existing contracts is proceeding as anticipated. Due to the continuing high volatility of the environment, a change in expectations in subsequent reporting periods cannot be ruled out “
Przemyslaw Skrzydlak
CEO IZOBLOK SA
