Koelner expects enhanced performance in 2010

2010-02-07

The Koelner group, which specialises in the production of fixings for industry and construction, hopes that the current year will bring a considerable improvement in its results, according to a report in Parkiet.
The company's senior management has provided no exact forecasts, but nevertheless believes that there is a real chance of posting a net profit exceeding PLN 10m (€2.4m) this year. One factor that may affect Koelner's results will be the harsh winter, although the enterprise assumes that the most auspicious period with regard to its results will begin in May and last until September.
Last year the group implemented a restructuring programme (which especially affected the company Srubex), and it will close 2009 with a profit close to zero. In 2010 Koelner intends to invest PLN 15-20m (€3.6-4.9m) in overhauling and upgrading its machine park. This year the company expects exports to account for approximately 65% of its total revenues, just as was the case in 2009. The company carries out most of its contracts in Germany and France. In Poland, on the other hand, the company hopes to win orders for infrastructure investments, which will represent a sizeable share of its earnings structure in 2011-2012.

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