Grupa Kapitałowa IMMOBILE publishes the results for the first quarter of 2020 - News - Grupa Kapitałowa Immobile S.A.

Grupa Kapitałowa IMMOBILE publishes the results for the first quarter of 2020
Data publikacji: 30.06.2020

The revenues of the Grupa Kapitałowa IMMOBILE in the first quarter of 2020 amounted to PLN 111.8 million. The increase in the Group's revenues of almost PLN 50 million was mainly due to an increase in domestic sales, mainly as a result of the increase in revenues in the industrial construction segment and the acquisition of ATREM S.A.

"We set ambitious revenue goals and boldly reach for them" - comments the results of Grupa Kapitałowa IMMOBILE president, Rafał Jerzy.

In the reporting period, the company generated a gross profit on sales of PLN 19.6 million compared to PLN 13.8 million in the same period of 2019. A profitability of 17.5% was achieved. The value of cash as at March 31, 2020 reached 29 million.

"Recent socio-economic events have not shaken the pillars of the Group, on the contrary - they showed that the model of the capital group implemented by us based on several independent industries works. Our cash situation is stable. The company entered the period of economic crisis with 29 million cash for further development "- said Rafał Jerzy.

In the first quarter of 2020, the Group recorded a positive operating flow of PLN 14.7 million related to adjustments of costs that were not operating expenses and changes in working capital. The investment activity of the Group generated a positive flow of PLN 3.9 million, which was mainly due to the proceeds from the sale of investment property in the amount of PLN 18.7 million.

"We are intensively analyzing the possibilities of expanding the Group by merging or taking over other business entities operating in segments identical to ours. In a few cases, talks were initiated with the Management Boards and / or significant shareholders of Companies in our interest. The situation of the companies listed on the Warsaw Stock Exchange is particularly carefully analyzed, ” - says Rafał Jerzy Jerzy, about development prospects.