Bowim’s average sales prices rose 11% on-year in the third quarter, helping consolidated revenue grow 11% to PLN 327.9 million ($86.5m). However, net profit fell -18% to PLN 2.87m due to higher cost of sales, Kallanish learns from the Polish distributor.
Construction of Bowim’s new 4,000-tonne capacity high-bay warehouse in Sosnowiec has been completed and it is now in the process of obtaining certificates for its machinery. It will also install a cut-to-length line and railway siding at a later stage.
In the nine months through September sales rose 11% on-year to 376,795 tonnes. This was partly thanks to the Sosnowiec logistics-distribution centre modernisation, as well as the commissioning of subsidiary Bowim Podkarpacie’s new warehouse distribution centre near Rzeszow. Revenue increased 21% on-year to PLN 1.01 billion, but net profit fell -23% to PLN 10.37m.
Nine-month sheet sales rose 6% to 119,323t, pipe and profile sales grew 14% to 81,800t and rebar shipments increased 36% to 72,532t. Sales to the steel structures sector generated 22% of revenue versus 23% a year earlier, but the construction sector generated 20% versus 18%. The share of trade in revenue remained at 19%. Imports accounted for 32% of the firm’s purchases versus 34% a year earlier.
