Mennica Polska S A : PLN 26 million in net profit and nearly PLN 34 million in EBITDA - The Mint of Poland has summarized with satisfaction its results for the first quarter of 2024

PLN 26 million in net profit and nearly PLN 34 million in EBITDA - The Mint of Poland has summarized with satisfaction its results for the first quarter of 2024

26 april 2024

The Mint of Poland Group summarized the first three months of this year with increases in results in every segment of its operations. During the reporting period, sales revenues were higher by nearly PLN 21 million, net profit by nearly PLN 20 million, and EBITDA by more than PLN 23 million. The reported results confirm the company's strong market position and the effects of a consistently implemented development strategy.

In the first quarter of this year. The Mint of Poland Group achieved sales revenues of PLN 327.8 million (PLN 306.9 million in IQ 2023). Net profit generated was PLN 25.8 million (PLN 6.2 million in IQ 2023), and EBITDA was PLN 33.8 million (PLN 10.2 million in IQ 2023). The main impact on the level of financial indicators was the final sale of 67 units within the "Bulwary Praskie" development. The Group's commitment to growth in this business segment will result in the presentation of solid financial results also in future periods of this year.

- We summarize the first quarter of this year as very positive. As previously announced, we systematically accounted for revenues from the sale of the final units within the " Bulwary Praskie" project. In the traditional business area, despite the decline in revenues, we recorded an increase in the result by more than three million PLN compared to the first quarter of 2023. We also reported slightly higher revenues in the electronic payments segment. Taking into account the current situation in the various business segments, we see the potential to show satisfactory financial results in the following quarters of this year as well - summarized Katarzyna Budnicka, President and Chief Executive Officer at the Mint of Poland.

Compared to the same period of the previous year, the Mint of Poland Group recorded an increase at all levels of profitability indicators, in all three business segments. The largest increase was recorded in the real estate development segment thanks to the realization of revenues from the sale of apartments within the "Bulwary Praskie" project, which is characterized by higher profitability compared to sales in the Group's other business areas. Within mint products, this was mainly due to economies of scale and improved profitability within the framework of foreign contracts, and in the electronic payments segment it was due to the successive increase in passenger traffic and the improvement in the relationship between revenues and operating expenses. The Group's liquidity remained at a high level.