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Financial result and basic factors or atypical events which impact its amount

Home page 4. Present and anticipated financial situation Financial result and basic factors or atypical events which impact its amount

Financial result and basic factors or atypical events which impact its amount

The gross profit on sales for 2016 amounted to 89.1 million PLN. The gross profitability of sales in the comparative periods rose 1.3 percentage point and was 9.6%.

Selling costs in 2016 amounted to 2.6 million PLN and were 1.3 million PLN (33.6%) lower than in 2015. The level of selling costs was correlated with the level of sales revenue in the periods and had similar share in the sales revenue of the compared periods.

The general administrative expenses incurred in 2016 were 15.3 million PLN and increased by 2.2 million PLN, i.e. by 17.1% compared to 2015. The increase in overhead costs is substantially attributed to takeover of management and administration of the Company’s infrastructure from the liquidated subsidiary KONIP Sp. z o.o. In 2016 the share of administrative expenses in sales revenue was 1.7%,
while in the 12 months of 2015 it was 1.1%. The share of general administrative expenses in sales revenue rose 0.6 percentage point in the comparative periods.

In 2016, other operating income totalled 15.6 million PLN and was 4.1 million PLN, that is by 20.9%, lower than in the comparative 2015.

Other operating expenses in 2016 amounted to 30.7 million PLN and were 12.9 million PLN lower than in 2015, that is by 29.7%.

Operating profit generated by the Company for 2016
amounted to 56.1 million PLN, which was 3.3 million PLN less than the profit earned in 2015 (that is by 5.6%). The return on operating profit for 2016 was 6.0% and rose by 1.1 percentage point on 2015.

The financial income generated in 2016 amounted to 10.2 million PLN and was by 7.0 million PLN higher than in 2015. The financial income comprised dividend in the amount of 5.7 million PLN received in respect of the shares of subsidiaries, associates and other companies, gains from selling some financial assets in the amount of 3.7 million PLN and gains from liquidation of financial assets in the amount of 0.8 million PLN.

In 2016, the financial costs amounted to 2.2 million PLN and were by 1.3 million PLN (by 37.4%) lower than in the previous year. They included 1.1 million PLN of interests on borrowings, 1.0 million PLN amount of commission on bank loans and interests on leases in the amount of 0.1 million PLN.

The gross profit before taxes for 2016 was 64.1 million PLN and was by 5.1 million PLN (8.5%) higher than the profit for 2015. In 2016 the gross profit margin was 6.9% and rose 2.0 percentage point on the comparative 2015.

The financial result of the reporting period closed with the net profit of 53.1 million PLN.
Compared to 2015, the profit rose by 5.9 million PLN (12.6%).
The operating profit margin for 2016 was 5.7% and rose 1.8 percentage point compared to 2015.

Main items of the statement of comprehensive income
Główne pozycje sprawozdania z całkowitych dochodów
Main items of the statement of comprehensive income
20162015Zmiana
Change
mln PLN
PLNm
%mln PLN
PLNm
%mln PLN
PLNm
Przychody netto ze sprzedaży produktów, towarów i materiałów
Net revenues from sales of products, goods and materials
928,5 100,0 1 204,2 100,0 (275,7)
Koszty sprzedanych produktów, towarów i materiałów
Cost of products, goods and materials sold
(839,4) 90,4 (1 103,9) 91,7 264,5
Zysk brutto ze sprzedaży
Gross profit on sales
89,1 9,6 100,3 8,3 (11,2)
Koszty sprzedaży
Selling costs
(2,6) 0,3 (3,9) 0,3 1,3
Koszty ogólnego zarządu
General administrative expenses
(15,3) 1,7 (13,1) 1,1 (2,2)
Pozostałe przychody operacyjne
Other operating income
15,6 1,7 19,7 1,6 (4,1)
Pozostałe koszty operacyjne
Other operating expenses
(30,7) 3,3 (43,6) 3,6 12,9
Zysk z działalności operacyjnej
Operating profit
56,1 6,0 59,4 4,9 (3,3)
Przychody finansowe
Finance income
10,2 1,1 3,2 0,3 7,0
Koszty finansowe
Finance costs
(2,2) 0,2 (3,6) 0,3 1,4
Zysk brutto przed opodatkowaniem
Profit before income tax
64,1 6,9 59,0 4,9 5,1
Podatek dochodowy
Income tax
(11,0) 1,2 (11,8) 1,0 0,8
Zysk netto okresu obrotowego
Net profit for the period
53,1 5,7 47,2  3,9  5,9 

File in XLSX formatMain items of the statement of comprehensive income file .xlsx12 kB

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