Dbica S.A. Announces Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended Sept. 30, 2015
Revenue in the first nine months of 2015 was 7.1% lower than in the same period of 2014. EBIT was PLN 108 million, an increase of 1.5% compared to the first three quarters of 2014. Net profit was 10.2% lower than in the same period of 2014 this was strongly influenced by the creation of a deferred tax provision in the amount of PLN 9.8 million in connection with operations in the territory of the Euro-Park Mielec Special Economic Zone. Capital expenditures by the company in the first nine months of this year were PLN 34.4 million. They were devoted among other things to modernization of the production lines for truck tires and expansion of the product line in order to secure higher margins for the company and increased competitiveness in this segment. Despite this combination of unfavourable market conditions, the EBIT result achieved by the company in the first nine months of 2015 was higher year on year, due to optimization of production costs and strict control of costs of sales and general management.