Brief: Grupa Kety Q2 Net Profit At 151.0 Mln Zlotys, Above Estimates

Grupa Kety

02/08/2023 16:12

Aug 2 (Reuters) - Grupa Kety SA  KTY.WA :
    * Q2 NET PROFIT 151.0 MILLION ZLOTYS VERSUS 145 MILLION
ZLOTYS
ESTIMATED ON JUNE 20
    * Q2 REVENUE 1.34 BILLION ZLOTYS VERSUS 1.35 BILLION ZLOTYS
ESTIMATED ON JUNE 20
    * Q2 EBITDA 240.1 MILLION ZLOTYS VERSUS 235 MILLION ZLOTYS
ESTIMATED ON JUNE 20
    * MANAGEMENT EXPECTS MAINTAINING OF CURRENT BUSINESS CLIMATE
IN H2
    * IT SEES H2 BUSINESS CLIMATE SIMILAR TO H1 AND EXPECTS
CONTINUOUS
PRESSURE ON MARGINS
    * GROUP PLANS TO MAINTAIN PART OF DEBT IN FOREIGN CURRENCIES
AND
CONTINUE ITS CURRENCY RISK HEDGING POLICY WITH FORWARD
TRANSACTIONS
    * SAID PLANS DUE TO POTENTIAL STRENGTHENING OF POLISH ZLOTY
AGAINST EURO AND ITS NEGATIVE IMPACT ON SALES AND MARGINS LEVELS
    * SEES WEAKENING DEMAND MAY CAUSE PRICES OF RESOURCES IN
NEXT
MONTHS TO CONTINUALLY DECLINE
    * ESTIMATES THAT NET DEBT TO INCREASE IN H2 BY ABOUT 350 MLN
ZLOTYS
    * SAID INCREASE DUE TO HIGHER INVESTMENT EXPENDITURE AND TO
DIVIDEND PAY OUT

Source text for Eikon:  ID:nEMb2kZTVa 
Further company coverage:  KTY.WA 

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