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Selena FM: AGM approves dividend payout

Following the recommendation of the Management Board of Selena FM S.A., Selena’s Annual General Meeting approved a dividend of PLN […]

Following the recommendation of the Management Board of Selena FM S.A., Selena’s Annual General Meeting approved a dividend of PLN 0.30 per share payable from the net profit for 2017. The total dividend payout will be PLN 6.85 million. The record date and the dividend payment date have been set to 2 July and 16 July 2018, respectively.

In 2017, Selena Group achieved all-time high consolidated sales of PLN 1.18 billion, up more than 16% year-on-year. Net profit amounted to PLN 6.8 million, while EBIT came in at PLN 43.4 million. In 2017, EBITDA was PLN 69.2 million, up almost 17% year-on-year. The increase in sales was achieved despite the difficult situation in the raw materials market, which affected the entire construction chemicals sector.

„Selena Group closed 2017 with a robust financial result and a strong balance sheet structure, which provides ample space for further development plans. Therefore, by continuing the regular dividend payout, the management board has recommended that more than PLN 6.85 million be paid to Shareholders. The company’s ability to distribute its profit each year is an indicator of its good financial position, which we have managed to maintain despite the difficult situation in the raw materials market, for example by increasing the share of high margin products in the Selena’s portfolio and implementing optimisation projects in the area of raw material costs. Supported by further R&D investments and the marketing of new products, these initiatives contribute to the margins and sales achieved at the entire Group level. According to Selena’s mission statement: ”Together we deliver better building performance”, we provide our customers with the highest quality solutions, which has an impact on the financial budget and shareholder value”, said Marcin Macewicz, acting Management Board President of Selena Group.

Key events in 2017 included:

Acquisition of a majority stake in Uniflex, an Italian company, which allows the Group to significantly increase its production capacity and strengthen its position in Western Europe in the segment of acrylic products.

Establishment of a joint venture in China – under an agreement between Selena Nantong Building Materials Co. Ltd and Shanghai Haozheng Construction Engineering Co. Ltd. The company’s business is distribution and sales of foams, silicones and mounting adhesives in China under Selena Group’s brands and the Chinese brands owned by the Partner.

The company’s 25th anniversary – last year, Selena Group, together with its employees, clients and business partners celebrated, in Poland and abroad, 25 years of its market presence. During foreign events, held e.g. in Russia, Romania, Italy, Ukraine, Turkey and Kazakhstan, and two galas in Poland, the company summarised its achievements to date, presented its development plans and awarded employees with the longest years of service. These events were also an opportunity to build relationships and networking with the company’s clients and partners and with the local media.

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