This report is prepared for the Warsaw Stock Exchange SA within the framework of the Analytical Coverage Support Program 4.0. 280/2023/AR/May 13, 2024
Event: Preliminary consolidated 1Q24 financial results released. On Friday, during the WSE trading hours, Bowim released preliminary consolidated 1Q24 financial results. The Group’s consolidated revenues at PLN 461.5 million (down 21% yoy) were in line with our expectations at PLN 461.3 million while EBIT at PLN 7.9 million (down 28% yoy) and net profit at PLN 3.6 million (up 45% yoy) were slightly below our forecasts at PLN 8.7 million and 4.5 million, respectively.The Company enumerated a number of unfavorable factors including the war in Ukraine, high energy costs, inflationary pressure and high interest rates which caused a demand in drop the discussed quarter and in consequence affected the prices of metallurgical products sold by the Company. Conversely, the Company’s lower debt needs had some positive impact on Bowim’s resu
