The General Assembly of the Shareholders,

Transcription

1 Report of the Management Board on S.A. operations in 2011 The General Assembly of the Shareholders, Krakow, 9 th of May, 2012

2 The most important financial data as at 2011 for S.A. NET REVENUE from sales - PLN k - (PLN k in 2010) increase by 2.25% NET PROFIT - PLN k - (PLN k in 2010) increase by 6.55% EBIT - PLN k - (PLN in 2010) increase by 3.09% CASH FLOW showed in the period increase by the amount of PLN k; with the status of cash at the end of the period PLN k. 2 BONARKA CITY CENTER - KRAKÓW

3 Selected items from the profit and loss statement of S.A. Item Item description (value in k PLN), 2011, 2010 % change yoy 1. Net revenue from sale of products, goods and materials % 2. Gross profit from sales % 3. Profit from operational activity (EBIT) % 4. Operational profitability EBIT 7.04% 6.99% 5. EBITDA % 6. Gross profit % 7. Net profit % 8. Net sales profitability (profit) 6.34% 6.08% 3

4 S.A. balance sheet Item Item description (value in k PLN) Share in total 2011 Share in total Fixed assets % 55.25% 2. Current assets % 44.75% 3. Equity % 84.89% 4. Liabilities and short-term provisions % 14.71% 5. Liabilities and long-term provisions % 0.40% 6. Balance sum % % 4

5 S.A. cash-flow Item Item description (value in k PLN) Cash-flow from the operational activity Cash-flow from the investment activity Cash-flow from financial activity Total cash-flow from activity

6 S.A. geographical sales structure Item Item description (value in k PLN) % change yoy 1. Sales sum % 2. Domestic sale % 3. Export sale % 4. Total share in the domestic sale 80.30% 80.57% 5. Total share in the export sale 19.70% 19.43% 6

7 Management Board s application in the matter of distribution of profit The Management Board of S.A. applies to allocate the profit from the year 2011, in the amount of PLN for: Reserve capital: PLN Payment of dividend: PLN

8 The most important financial data as at 2011 for the Capital Group NET REVENUE from sales - PLN k - (PLN k in 2010) increase by 4.53% NET PROFIT - PLN k - (PLN k in 2010) increase by 6.32% EBIT - PLN k - (PLN in 2010) increase by 9.93% CASH FLOW showed in the period increase by the amount of PLN k, with the status of cash at the end of the period PLN k 8 Stacja Metra Słodowiec - Warszawa

9 Selected items from the profit and loss statement of the Capital Group Item Item description (value in k PLN) % change yoy 1. Net revenue from sale of products, goods and materials % 2. Gross profit from sales % 3. Profit from operational activity (EBIT) % 4. Operational profitability EBIT 8.49% 8.08% 5. EBITDA % 6. Gross profit % 7. Net profit % 8. Net sales profitability (profit) 6.88% 6.77% 9

10 Capital Group balance sheet Item Item description (value in k PLN) Share in total 2011 Share in total Fixed assets % 48.07% 2. Current assets % 51.93% 3. Equity % 79.20% Liabilities and short-term 4. provisions % 16.42% 5. Liabilities and long-term provisions % 4.38% 6. Balance sum % % 10

11 Capital Group cash-flow Item Item description (value in k PLN) Cash-flow from the operational activity Cash-flow from the investment activity Cash-flow from financial activity Total cash-flow from activity

12 Capital Group geographical sales structure Item Item description (value in k PLN) % change yoy 1. Sales sum % 2. Domestic sale % 3. Export sale % 4. Total share in the domestic sale 77.62% 78.00% 5. Total share in the export sale 22.38% 22.00% 12

13 Item revenue structure from the sale of the Issuer s Group according to the financial statements of the Issuer s Group (in k PLN) Net revenue from sales of products Net revenue from sales of services Net revenue from sales goods and materials TOTAL

14 Opinion of the independent auditor on auditing the statements Opinion of the independent auditors, report on auditing financial statement, the financial statement, report on the entity s activities for S.A. Opinion of the independent auditors, report on auditing financial statement, the financial statement, report on the activities of the Capital Group 14

15 S.A. structure of export countries and business partners 15

16 Selected achievements in Poland in 2011 Project Location Number of luminaires Number of systems Wilanow Park Technologiczny biurowiec ASSECO Warsaw - Wilanow Biurowiec Platinium 4 GTC Warsaw Wydział Biologii Uniwersytetu Gdańskiego Gdansk Sąd Najwyższy w Warszawie, powierzchnie komercyjne Warsaw Aeropark biurowiec dla GTC Warsaw BUMA Kraków Cracow Terrminal Okęcie II Warsaw II Terminal Portu Lotniczego Gdańsk-Rębiechowo Gdansk Terminal III Lotnisko Lublinek Lodz Wydział Mechatroniki Politechniki Poznańskiej Poznan Fundacja INNOPOLIS Wroclaw Hala Ludowa Wroclaw Budynki towarzyszące autostradzie A2 Nowy Tomysl- Swiecko Hamilton Sundstrand (zakład lotniczy) Rzeszow Sąd Rejonowy Gdansk Międzynarodowe Targi Łódzkie Lodz Międzynarodowe Targi Poznańskie, hala nr 15 Poznan Kino Warszawa Wroclaw

17 Selection of foreign projects completed in 2011 Project Location Country Number of luminaires Number of systems Korpus Kadetów Moscow Russia Korpus Kadetów Stawrlopol Russia Oświetlenie zewnętrzne stadionu Lviv Ukraine Oświetlenie zewnętrzne nowego centrum handlowo-rozrywkowego Aarhus (I etap) Aarhus Denmark Centralne Warsztaty Naprawcze Kolei Wiedeńskich (I etap) Wien Austria Stadion Narodowy Bucarest Romania Centralny Bank Kuwejtu Kuwait City Kuwait Uniwersytet Teruel Teruel Spain Nowatorskie oświetlenie LED węzła autostradowego (II etap) Goeteborg Sweden

18 Shopping Mall 2010/2011 Project Location Country Number of luminaires Number of systems Millenium Hall Rzeszow Poland Factory Outlet Cracow Poland Centrum Handlowe NIWA II Oswiecim Poland Centrum Handlowe Mall Burgas Burgas Bulgaria Centrum Handlowe Mall Ruse Ruse Bulgaria Centrum Handlowe Mall of Sofia Sofia Bulgaria Centrum Handlowe Mall Komod Kiev Ukraina Centrum Handlowe Mall Plovdiv Plovdiv Bulgaria Plaza Center Suwaki Poland Galeria Handlowa MAZOVIA Plock Poland Galeria Sloneczna Radom Poland Centrum Handlowe AGORA Bytom Poland Centrum Handlowe Malta Poznan Projekt Poland Galeria Bonarka City Center Cracow Poland Galeria Jurajska Czestochowa Poland Centrum Handlowe SFERA II Bielsko Biała Poland Centrum Handlowe Serdika Center Sofia Bulgaria Galeria Focus Mall Piotrkow Trybunalski Poland Centrum Handlowe Ozas Gallery Vilniaus Lithuania

19 summary of 2011 and prospects for 2012 Evaluation of 2011 Dynamics of the construction and assembly output for the year increase by 16.3% Increase mainly in the area of civil engineering and specialist works Increase in building construction below 5% In 2011 making available for use only 3% more buildings than in 2010 Inconsiderable 2% increase in building permissions 2011 Increase in electrotechnical branch in 2011 by 12-15%; luminaires branch increases by 2% 19 Prospects for 2012 In connection with forecasted situation on a building investment market, occurring legislative and technological changes the Company s Management Board will pay special attention to the following actions: o Developing export sales on selected markets, o Sustaining or improving current margins, o Improvement of controlling and optimization of business activity, o Continuation of intensive research and development works in the following areas: Advanced control systems and integration of complex lighting systems Applying LEDs in lighting technology o Optimization of selected organizational structures within the Capital Group to improve effectiveness and efficiency of actions, o Maintaining high level of the Company s financial security. Basing on an evaluation of the economic situation in the sector as well as on the current level of orders and potential of the sale in the LED lighting sector the Management Board hopes to sustain in the current year the Group s sales at the level of o The Group has started 2012 with a portfolio of active orders 15% higher in comparison with the beginning of Despite increase of orders the Management Board observes uncertainty in the sector, which may also translate into the market s behavior in Situation in the sector in Q1 of the current year will enable to evaluate further market prospects in 2012.

20 GK development prospect for 2012 In connection with forecasted situation on a building investment market, occurring legislative and technological changes in 2011 and next years the Company s Management Board will pay special attention to the following actions: o Developing export sales on selected markets, o Sustaining or improving current margins, o Improvement of controlling and optimization of business activity, o Continuation of intensive research and development works in the following areas: Advanced control systems and integration of complex lighting systems Applying LEDs in lighting technology o Optimization of selected organizational structures within the Capital Group to improve effectiveness and efficiency of actions, o Maintaining high level of the Company s financial security. Basing on an evaluation of the economic situation in the sector as well as on the current level of orders and potential of the sale in the LED lighting sector the Management Board hopes to sustain in the current year the Group s sales at the level of o The Group has started 2012 with a portfolio of active orders 15% higher in comparison with the beginning of Despite increase of orders the Management Board observes uncertainty in the sector, which may also translate into the market s behavior in Situation in the sector in Q1 of the current year will enable to evaluate further market prospects in

21 S.A. summary of 5 th term of office of the Management Board (May 2009 May 2012) Net profit value for S.A. for years PLN k Investment of NT in Dobczyce Significant projects: Aarhus Harbour Road junction in Goeteborg Centrum Nauki Kopernik Sukiennice Stadion Narodowy Modernization of street luminaires of municipalities in Silesia Muzeum Historii Żydów Polskich Eksposition for fair trade Light &Building in Frankfurt in 2010 and 2012 Development of LED technology 21

22 City Amsterdam Inspection Department 22

23 Hotel Daniela - Otranto, Italy 23

24 Shopping Mall Moscow, Russia 24

25 Boutique - Stockholm 25

26 Thank you. S.A. ul. Przemyslowa 2, Krakow tel fax