Analysis of Monthly Sales Growth: Key Clients in November 2023 (+10% YoY)

This report is prepared for the Warsaw Stock Exchange SA within the framework of the Analytical Coverage Support Program 4.0. 32/2024/AR

Event: Monthly sales growth to key clients in November 2023 at +10% yoy.

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Yesterday, after the market close, the Company released a monthly sales growth dynamic to key clients in November 2023 that reached +10% yoy. Expected impact: Slightly negative.

Monthly data are calculated based on US$-denominated revenues.

Given the US$ weakening vs PLN in November 2023 (by c. 12% yoy) they imply a yoy dynamic at c.-3% for the figures denominated in PLN while we expected +4% yoy for 4Q23.

GPW’s Analytical Coverage Support Programme 3.0

The Warsaw Stock Exchange's (GPW's) Analytical Coverage Support Programme 3.0 supports investment firms in drafting analytical reports which are financed by GPW. The objective of the Programme is to improve the availability of research covering less liquid companies, facilitating investors' informed investment decisions based on a reliable independent source of issuer information. Eligible to participate in the Programme are companies listed on the GPW Main Market (other than WIG20 participants) and on NewConnect. The Programme covers up to 50 issuers.

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USD pln warsaw stock exchange Analysis company negative YoY Analytical Coverage Support Program weakening impact dynamic 4Q23 expected monthly sales growth key clients November 2023 market close US-dollar denominated revenues figures