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IZOBLOK SUMMARISES Q3 2021/2022

During the 9 months of the financial year 2021/2022, the IZOBLOK Group generated sales revenues of PLN 113,232 thousand, i.e. 17% less than in the corresponding period of the previous financial year, incurred an operating loss of PLN 17,193 thousand, while EBITDA in the reported period amounted to PLN – 4,399 thousand.

“In the reported period, we had to deal with a number of unfavourable changes on the market, including a sharp increase in the prices of energy carriers which form a significant item in the cost account, the prices of raw materials and components used by us in production also increased. Our customers, the car manufacturers, have taken steps to limit production or, in more restrictive cases, have decided to temporarily shut down production facilities. Production restrictions, shutdowns, lower orders and high costs of running business took a significant toll on third quarter results.

We are taking measures to return production profitability to the expected level, including new business conditions and process optimisation. The scale and pace of changes in business conditions is unprecedented which makes it much more difficult and lengthy to negotiate new business conditions with customers.  We observe market trends in the industry and make decisions related to our operations on an ongoing basis.” – says Przemysław Skrzydlak, President of IZOBLOK SA.