Selena Group, one of the leading producers and distributors of construction chemicals and the owner of the TYTAN brand – posted sales of PLN 349.5 million in the first quarter of 2021. This is an increase of 23.6% compared to the same period last year. Net profit also increased markedly, reaching PLN 17.5 million, up 235% year-on-year, and so did operating profit (EBIT), which came in at PLN 19.8 million, up 116.1% on the first quarter of 2020.
The revenue increase in Q1 2021 was significantly influenced by organic sales growth in all segments. European Union remains the key market in this respect. In the first quarter it accounted for 68% of Selena Group’s sales (compared to 67% in the same period of 2020). Growth was also reported in the North and South America region, which accounted for 8% of total sales, increasing by 1 p.p. year-on-year.
“After several months of the pandemic, we can say that we used this time productively. Our performance was helped by the good situation in the construction market, which boosted demand for building materials beyond what was observed in previous years. The continuing demand counter-balanced lower margins caused by the very strong increase in raw material prices,” said Jacek Michalak, CEO of Selena Group.
“Quite importantly, thanks to the developed operating procedures, we did not experience any serious disruptions in the supply of raw materials and production materials in the wake of the pandemic. As a global player, Selena Group also benefited from stabilization of exchange rates, notably in developing countries,” Michalak concluded.
In the first quarter of 2021, Selena Group put on foreign markets its first-ever system solution for professionals: Tytan WINS, a standard for window insulation and sealing, based on liquid foil, increasing the energy efficiency of buildings and accelerating construction works.
Sustainable construction, including Green Deal aspects, represents a major development area for Selena Group, whose R&D activity focuses on environmentally friendly products. Selena’s policy responds to market stimuli and legislative developments in chemical regulations, which set directions for identifying new raw materials, innovative products and new applications,
In Q1 2021, Selena Group reported a 23.6% increase in revenue from contracts with customers compared to the same period last year. The Company notes that the impact of the pandemic on its activities in the following years will depend on the macroeconomic effects in Poland and in global markets. The Group comprises 35 companies in 18 countries. The Group’s manufacturing plants are located in Poland, Brazil, South Korea, China, Romania, Turkey, Spain and Kazakhstan. The Group’s portfolio is topped by such outstanding brands as: Tytan Professional, Quilosa, Artelit, and COOL-R, which are recognized by customers in 100 markets
around the world.