Major Polish distributor delists

Konsorcjum Stali (KS), one of Poland’s top steel distributors, has delisted from the Warsaw Stock Exchange, Kallanish notes.

This follows an agreement last year by a group of KS’s shareholders to acquire the remaining shareholding of the distributor after their joint stake exceeded 90%.

KS’s consolidated revenue fell -7% on-year in 2019 to PLN 1.69 billion ($426 million) and net profit slumped -62% to PLN 16.5m.

According to the latest published volume figures, in the first half of 2019 KS’s steel product sales declined -5% on-year to 219,900 tonnes. In full-year 2018 sales rose 7% on-year to 682,000t, with domestic sales accounting for 99.45% of revenue.

The firm has three reinforcement fabrication plants with a combined capacity of 15,000 t/month. It also has two steel structures plants and a coil service centre. This is in addition to 13 sales offices around Poland. Its main suppliers are Celsa Huta Ostrowiec, CMC Poland and Riva Stahl.