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Selena: first quarter 2015 financial results

Selena Group – global manufacturer and distributor of construction chemistry headquartered in Poland – posted in the first quarter 2015 […]

Selena Group – global manufacturer and distributor of construction chemistry headquartered in Poland – posted in the first quarter 2015 consolidated sales of EUR 44.8 m (PLN 185.8 m). At the same time, the Group recorded a net loss of EUR 1.9 m (PLN 7.8 m) in the analysed period, which is EUR 2.1 m (PLN 9.0 m) up on the corresponding period of the year 2014. Construction chemistry as a sector of economy exhibits high seasonal fluctuations. In the first quarter of the year Selena usually records ca. 15% of yearly sales.

In the first quarter 2015 the Selena Group’s sales were heavily affected by factors such as the Russian-Ukrainian conflict and the resulting economic slowdown in the region. As a consequence, Selena recorded lower sales in Russia and Ukraine. The Group compensates for the adverse impact of the East-European situation by diversifying its markets and focusing more on the growing economies. Selena posted sales increases in Spain, Turkey and the USA, among others. In Poland the sales were only slightly lower than in the very strong first quarter 2014.

The upshot of the Russian-Ukrainian conflict is clearly visible in the entire region of Eastern Europe and Central Asia. Selena is observing its repercussions also in countries that do not take part – such economies experience a slowdown in their growth and face more pressure on lower prices.

„Selena bases its current sales policy on geographical reorientation. It means that we offset the losses we sustain in the Eastern markets in the markets uninfluenced by the crisis. Another vital element of our strategy is that we continue extending the range of our products and keep focus on market launching innovative solutions that let us generate added value for the end user. Thanks to the agile sales policy and competitive advantage of innovation in our portfolio we are counting on continuous improvement in the financial results of the Selena Group in the quarters to come” – said Jarosław Michniuk Selena CEO.

Selena takes into account that the relatively unfavourable economic situation may persist in Russia and Ukraine. Considering the slight revival noticeable in its other markets, Selena will all the more continue perfecting its operational excellence.

In 2014 the Selena Group posted consolidated sales of EUR 263.4 m (PLN 1.1 b) and the net profit came at EUR 15.7 m (PLN 21 m) and was similar to the result recorded in the year 2013. Following its dividend policy, tha Management Board of Selena FM SA recommended the payout of dividend for the year 2014 in the amount of PLN 0.28 per share. The decision about the payout will be made at the Annual General Meeting of Shareholders on 29 May 2015. For 2013 the Selena Group paid out the EUR 1.5 m (PLN 6.39 m) dividend, which is PLN 0.28 per share.

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