Stalexport Autostrady Group confirmed its great financial standing in H1 2008. Consolidated revenues of the Group regarding sale from continued activity (the Group ceased to conduct business activity in trade and production of steel products in Q4 2007) amounted to ca. PLN 70m, while net profit totalled over PLN 23m. In comparison with the results obtained last year in the corresponding period (PLN 64.8m), the revenues of the Group generated from sale increased by 7.7%, while net profit went up by as much as 335% (from PLN 6.9m). In July this year, the Group repaid the last debt instalment for the benefit of covenantees under arrangement proceedings, and closed the conducted proceedings.
The increase in revenues and net profit of the entire Group is accompanied by an improvement in separate financial results of the company Stalexport Autostrady S.A. At the end of June 2008, aggregated revenues from sale, financial revenues and other revenues of the Company from continued activity stood at the level of PLN 15m which in comparison with the results at the end of June 2007 stands for a 50% growth (from merely PLN 10m). Net profit from continued activity recorded by the Company increased 15 times – from PLN 282k to over PLN 4.3m!
’Difficult years are certainly over. We repaid the creditors from the arrangement proceedings. We increased net profit spectacularly, both as a Group and a Company’, said Emil Wąsacz, President of Stalexport Autostrady S.A. Management Board. And added, ‘I believe that good results and excellent perspectives for the market on which we conduct our operations will convince investors that by purchasing shares of our company they make a good long-term investment’.
Stalexport Autostrady Group is one of the national leaders in such areas as construction, modernisation and management of toll motorways. Not only does the Group hold a concession for the A4 motorway section Katowice-Kraków, but it also participates in a strategic tender for the construction and operation of a toll section of A2 motorway Stryków-Konotopa. On July 28th 2008, the General Directorate for National Roads and Motorways (GDDKiA) started official negotiations with the purpose of selecting the best offer for the construction and operation of this section. The Capital Group is also waiting for GDDKiA to repeat tenders for adjusting A2 section Konin-Stryków and A4 section Wrocław-Katowice to the parameters of a toll motorway.