Annual results and forecast change for the better!

LUG published the annual statement for 2011, which included the amended higher results as of four quarters of 2011. Increase followed in any field covered with the forecast. In addition the LUG S.A. Executive Board informed on the amendment and increase of the operating income forecast and EBITDA for 2012.

The consolidated statement of the LUG S.A. Capital Group as of 2011 increased significantly the annual results of the LUG S.A. Capital Group. The audit of the certified auditor confirmed higher increase of good results previously known in public for four quarters of 2011. The LUG S.A. Capital Group along with subsidiaries obtained in 2011 the total revenues of 94.53 million PLN, so over 21% more in relation to the last year, and over 5% more in relation to the original forecast of the Issuer, as of the first half of 2011.

Efficient cost management and unused assumed reserves, as well as the adjustment of the amortization rates had impact on the operating income, EBITDA and the net income. In 2011 the LUG S.A. obtained the operating income increase over 145%.(y/y) up to 5.94 million PLN. At the same time EBITDA increased over 73% (y/y) going beyond the level of 9 million PLN, and the net income showed dynamics of over 108% (y/y) and amounted 3.67 million PLN. In this way the Issuer exceeded the assumed results in the original forecast, by around 48% in case of EBIT and by around 28% in case of EBITDA –and by around 20% with regard to the net income.

To sum up the LUG S.A. Capital Group improved its dynamics of revenues in 2011 in total by 21.19%, where in case of domestic market the increase was +15.72%, and +27.49% in case of export.

Full contents of annual statements is available in Periodical reports tab.

As a result of good financial results for I quarter of 2012, improvement of annual results for 2011, as well as analysis of the global economic conditions and uncertainty regarding foreign currency market, the LUG S.A. Executive Board decided to make amendment of the forecast for 2012.

Updating of the forecast includes an increase of the operating income up to 6.20 million PLN resulted from assumed higher margins from export markets, and as a result EBITDA increase up to 9.68 million PLN. Sales revenues and the net income will be as assumed, namely 106.54 million PLN and 4.62 million PLNH respectively.

The full information regarding the amendment of the forecast is available in Current reports tab - Current Report 26/2012.