Barlinek predicts better year ahead

2010-03-05



The natural wood flooring manufacturer Barlinek suffered a net loss for the second year in a row in 2009, although the company's senior management is more upbeat about this year's results, Parkiet reported.
The producer is hoping for an improvement in its financial results, although any upward curve in revenues may be impeded by the downturn in demand for its wooden flooring both home and abroad since November 2009, including in the Czech Republic, Hungary, Slovakia and the Baltic States. In response to this slump and in order to improve its results the company now intends to seek buyers on new foreign markets. Barlinek intends to make use of its existing production capability and has no major investments pencilled in for this year. On the other hand, it wants to spend a modest sum, i.e. roughly PLN 8m (€2m), on building briquette factories in Ukraine and Romania.
All revenues earned by Barlinek over the next two-three years will go towards paying off its debts, which at the end of 2009 amounted to PLN 726.7m (€186.2m).

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