The Management Board of Grupa Kęty S.A., according to the announced calendar of corporate events, hereby publishes preliminary forecasts of results for the fourth quarter of 2014.

The fourth quarter was another quarter for the Group of increases in sales; it generated 455 million PLN of revenue, which denotes a ca. 6% growth as compared to last year's figures. Major segments of the Capital Group recorded increases in sales revenue, including: the Aluminium Systems Segment by 8% and the Extruded Products Segment by 13%. Sales revenue in the Flexible Packaging Segment was comparable to the previous year's figure. Only in smaller segments (the Building Accessories Segment and the Building Services Segment), the Group recorded decreases by 5% and 15% respectively.

Operating profitability remains at a high level, which is reflected in significant increases in consolidated operating profit. As predicted by the Management Board, consolidated operating profit in the fourth quarter will add up to 41 million PLN, i.e. it will be ca. 40% higher than in the corresponding period in the previous year. EBITDA (operating profit plus depreciation) will amount to 63 million PLN, which denotes an increase by 25% as compared to previous year's figures. On a 12-month rolling basis, these values will be 232 million PLN (operating profit) and 315 million PLN (EBITDA). The balance of the financial operations (costs of interest, exchange rate differences on balance sheet items valuation, including foreign currency loans) in the fourth quarter will be negative and amount to ca. -5.5 million PLN (-3 million PLN in the previous year). As a result, the Company estimates that consolidated net profit will amount to ca. 29.5 million PLN, and on a 12-month rolling basis to 175.1 million PLN, which means that the Company accomplished the result planned for 2014 in 100%. At the end of 2014, net debt of the Capital Group will amount to ca. 210 million PLN.

The above forecast was prepared on the basis of the following assumptions.

Q4 2013
Q4 2014
(forecast)
Change
average EUR/PLN exch. rate in the quarter
4.18
4.21
+1%
average USD/PLN exch. rate in the quarter
3.07
3.36
+9%
average 3M al. price in the quarter
1,815 USD/t
1,980 USD/t
+9%
distributed by