LUG improves profitability and confirms the forecast
10 May 2012
In I quarter of 2012 the LUG S.A. Capital Group made more efficient use of its assets than in previous years. As a result the consolidated operating income (EBIT), as well as the profit from the operational activity increased by amortization (EBITDA) amounted 502.33 thousand PLN and 1 365.23 thousand PLN respectively in I quarter of 2012, what meant the increase by 9.72% and 5.16% respectively y/y.
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- ”Operating profitability improvement and EBITDA is very important for us and we aim to ensure repeatable and long term improvement”– says Ryszard Wtorkowski, LUG S.A. Executive Board President. Also a significant increase followed of the net income, namely by 50.70%, which in I quarter of this year was 301.86 thousand PLN. This dynamic increase resulted mainly from EURO exchange rate fluctuation, which affected also the evaluation of credits in foreign currency, and had positive influence on the balance regarding purchase of components and sales of LUG branded products. |
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In I quarter of 2012 the LUG S.A. Capital Group experienced decrease of the consolidated revenues by 7.99% in relation to I quarter of 2011. It resulted from a one -time sales decrease in January of this year related to implementation of the new management system purposed to improve performance to the Company in many fields.
| - ”In January the culminating point followed of works regarding implementation of ERP Class new company management system. System engagement was a very complicated process that required engagement of huge staff resources and many operations. In these works all departments of the company were engaged, as well as selling, production and logistic staff, what had impact on performance decrease related to execution of orders and service for clients, in particular in case of foreign markets. Still revenues obtained in I quarter did not differ from the revenues in previous years, and positive effects of the new system have been evident during every day work” – explains Ryszard Wtorkowski. |
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LUG S.A. Executive Board confirms the financial forecast for 2012 on the basis of placed orders and considering beneficial impact regarding seasonal nature of lighting sales in the II half of this year.
The full content of reports for I quarter 2012 is available in Periodical reports tab.