Warsaw, 06/23/2022 (ISBnews) – Sescom recorded 18,000 PLN of consolidated net profit attributable to shareholders of the parent company in H1 in the financial year 2021/2022 (October 2021 – March 2022) compared to PLN 1.61 million profit a year earlier, the company said in the report.
The operating profit amounted to PLN 1.34 million compared to PLN 2.6 million profit a year earlier.
“The gradual departure from pandemic trade restrictions was a significant, positive stimulus in the further development of the Facility Management (FM) segment in Poland and abroad, where in the analyzed period the company achieved PLN 4.2 million in operating profit (an increase by 45% y / y) and PLN 2.8 million of net profit (increase by 34% y / y). However, the result of the entire group was diminished by the losses of the development segments, ie SES Hydrogen (hydrogen technologies) and FIXFM (maintenance services for small business and consumers), which had not yet reached the break-even point. On a consolidated basis, the group’s operating profit in the analyzed period amounted to PLN 1.3 million (compared to PLN 2.6 million a year earlier), and the net profit to PLN 0.1 million (compared to PLN 1.8 million a year earlier) “- we read in the press release on the results.
Consolidated sales revenues reached PLN 77.09 million in the first half of the year. compared to PLN 65.18 million a year earlier.
“The increased sales outside Poland contributed to the increase in the group’s revenues, which we improved by approx. 27% y / y. We are continuing the tasks set out in the Wise Futurist 2030 strategy, which we announced in September 2020. In the face of changes in the economy that are a consequence of recent economic and geopolitical events, we plan to update our strategy in the coming months. Its foundations, however, will remain unchanged. The target that remains in force for us is to achieve normalized EBITDA in the amount of PLN 35 million at the end of the financial year 2024/2025. Achieving the declared result level will not be possible without the acquisition. We are currently in talks with several entities on the British market. We want to complete the acquisition in 2022. ” – said president Sławomir Halbryt, quoted in the material.
No commercial activities were conducted in the SES Hydrogen segment (hydrogen technologies) in the first half of 2021/22, and the operating loss resulting from the segment’s operating costs amounted to PLN -1.3 million. The FIXFM segment (maintenance services for small business and consumers) generated sales of PLN 1.6 million and a negative EBIT of PLN -1.6 million, it was also announced.
“We conduct activities aimed at obtaining external financing for technology segments, which will allow us to accelerate their development. In the case of rising costs of their operations, with the prolonged lack of external support, we will have to analyze the scale of financing these areas, ”concluded Halbryt.
On a standalone basis, the net profit was PLN 3.75m, compared to PLN 0.53m profit a year earlier.
The Sescom capital group specializes in the management and provision of facility management services for chain customers (HVAC equipment maintenance services, IT infrastructure maintenance services as well as refrigeration, electrical and construction services). The company moved to the main market of the WSE in March 2018.
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