Poland's Grupa Kety's new strategy plans growth through acquisitions (updated)

Grupa Kety

19/10/2023 12:23

(Adds CEO quotes, background from paragraph 3)
       GDANSK, Oct 19 (Reuters) - Polish aluminum company Grupa
Kety  KTY.WA  expects that one of the pillars of its upcoming
five-year strategy will be growth via acquisitions, CEO Dariusz
Manko said on Thursday.
    The group plans to release a new strategy in autumn next
year as it believes a reliance only on organic growth and an
increase in output would not give it a significant boost. 
    "What awaits us is growth via acquisitions. We won't run
away from it. The company is so large, and the couple of
billions (of zlotys) of revenue from the last year...empowers us
to take braver steps," Manko said during a conference call.
    He said that personally he would prefer to acquire
"not-so-big" entities, citing a valuation range of 50 million to
100 million euros ($52.8 mln-105.5 mln), in European markets
such as  Britain, Germany, the Benelux countries, France, Spain
and the Balkans. 
    "We see that organic growth has been, in a way, exhausted,"
Manko said, adding that the company was running at 80% of
capacity so was not expecting to invest further there. 
    Grupa Kety will also appoint a new deputy CEO, Roman
Przybylski, at the start of 2024, who will be responsible for
growth and investments.  

($1 = 0.9480 euros)
($1 = 4.2210 zlotys)

 (Reporting by Mateusz Rabiega 
Editing by Mark Potter, Kirsten Donovan)
 ((Mateusz.Rabiega@thomsonreuters.com; +48 58 769 67 57;))