The prevailing economic mood is hardly optimistic. We continue to see an increase in general inflation, elevated interest rates and high credit costs, the combined effect of which causes a decrease in demand for construction chemicals.<\/p>\n\n\n\n
\u201cAs early as the second half of 2023, following a careful analysis of the activity of global markets, we adopted and are consistently pursuing certain business directions. We have managed to achieve satisfactory efficiency by strengthening our key product categories, such as foam adhesives and hybrids, and by applying an appropriate pricing policy. These measures allowed the Group to achieve net cash flow from operating activities of EUR 6.9 million at the end of Q2 this year. Let me emphasize that this is not only the result of improving internal processes. Above all, we owe this to the calibration of our goals in such a way as to limit the impact of the invariably adverse market processes,\u201d <\/em>says S\u0142awomir Majchrowski, CEO of Selena Group.<\/p>\n\n\n\n Business of significant value for the Polish economy<\/strong><\/strong><\/p>\n\n\n\n Selena’s financial results, and consequently its business value, were recognized by the market, as it was named on prestigious lists of the largest companies in the Polish economy. Selena was awarded the 2024 Forbes Diamonds and became a Star of the Builder Ranking.<\/p>\n\n\n\n Forbes Diamonds is a prestigious ranking created annually by Dun & Bradstreet Poland for the Forbes Polska magazine. It aims to distinguish and reward the most dynamically developing companies in Poland. As its creators emphasize, the ranking reflects the condition and pace of development of Polish business. The 2024 vote is the selection of \u201cdiamonds of diamonds\u201d, as Katarzyna D\u0119bek, editor-in-chief of Forbes Polska, described this year’s awards. The award-winning companies have navigated challenging conditions over the past three years: the pandemic, the war in Ukraine, and high inflation in Poland \u2013 and thanks to their flexibility and efficient management, they \u201ccoped with all adversities\u201d. The Forbes ranking recognized Selena FM and Selena SA.<\/p>\n\n\n\n Selena Group was also awarded the \u201cStar of the Builder Ranking\u201d certificate by the editors of the Builder monthly together with PwC Poland and Dun & Bradstreet \u2013 the authors of the ranking of the 300 largest construction companies in Poland. Selena was ranked first in the categories of \u201cHighest Revenues in Lower Silesia\u201d and \u201cHighest Revenues by Business Area: construction chemicals\u201d. <\/p>\n\n\n\n A dynamic market needs flexibility<\/strong><\/strong><\/p>\n\n\n\n In the following quarters of 2024, the adopted management goals and directions will be continued, with scaling up Selena’s business in Western Europe and both Americas in order to diversify production and sales while keeping appropriate cost discipline and implementing optimization activities. The market is so demanding that any forecasts must be approached with caution and business must be conducted appropriately having regard to the dynamic environment.<\/p>\n\n\n\t\t![\"\"](\"https:\/\/selena.com\/wp-content\/uploads\/2023\/07\/Slawomir-Majchrowski_Prezes-Zarzadu-Grupy-Selena-CEO-1-683x1024.jpg\")
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