Back IZOBLOK SUMMARISES IH 2024
After two quarters of the 2024 financial year covering the period from 01.01.2024 to 30.06.2024, the IZOBLOK Group achieved operating income of PLN 126.5 million, which is an increase of 14.7% compared to the same period of the previous year. Consolidated operating profit for the first half of 2024 amounted to PLN 5.3 million and is PLN 4.8 million higher than consolidated operating profit in the same period of the previous financial year, while consolidated EBITDA amounted to PLN 10.3 million and was higher by 48.6%. At the unconsolidated level, revenues amounted to PLN 65.9 million, up 16.8% compared to the first half of 2022/23, standalone operating profit amounted to PLN 1.6 million, while standalone EBITDA was PLN 4.0 million and net profit was PLN 3.5 million.
Referring to the financial results achieved in the reporting period, Przemysław Skrzydlak, CEO, stated:
“When presenting the results of the first half of the year, the Management Board of the company draws special attention to the consolidated results of the IZOBLOK group. The results achieved by the German company in the current year clearly indicate a significant improvement in operating efficiency after difficult periods that had a negative impact on its results.
The acquisition made by IZOBLOK SA in 2016 helps to consolidate the group’s position on the European market and is a good base for carrying out projects on a global level (USA, China). Currently, the company’s activities are focused on starting numerous contracts, which the company reported earlier in its regular reports. At present, the dynamics of launching new projects is slightly decreasing, which may indicate that the market has slowed down slightly. However, in the opinion of the Management Board, the delay in starting new contracts will have an insignificant impact on the company’s operations. There is noticeable pressure on price corrections in connection with lower energy prices on the market. At the same time, the company is experiencing the negative effects of the sudden increase in remuneration costs, increases in service costs and the negative effects of the strengthening of the Polish zloty and high interest rates. Despite these factors, IZOBLOK, thanks to the large diversification of its customer portfolio, is developing stably and has good development prospects.
In the reporting period, IZOBLOK did not record any payment backlogs from its business partners, and the fulfilment of existing contracts is proceeding as planned. Due to the continuing high volatility of the environment, it is not possible to rule out changes in expectations in subsequent reporting periods.”
Przemysław Skrzydlak
CEO IZOBLOK SA
