The next quarter of 2024 brings strong growth for the Capital Group of Mennica Polska SA.
The Capital Group of Mennica Polska SA reported a net profit of PLN 85.9 million for the first nine months of the current year. Sales revenue reached PLN 1.03 billion, exceeding the previous year by over PLN 215 million. Financial liquidity remained at a very good level. The reported results confirm the consistent implementation of the development strategy.
During the reporting period, each business segment recorded growth. Sales revenue increased by over PLN 215 million, reaching PLN 1.03 billion (compared to PLN 819.6 million in the same period last year). Sales profit rose by over PLN 46 million (PLN 88.3 million in Q1-Q3 2024 vs. PLN 42.2 million in Q1-Q3 2023), while net financial profit increased by PLN 32 million (PLN 85.9 million in Q1-Q3 2024 vs. PLN 53.9 million in the same period last year). EBITDA was higher by nearly PLN 50 million (PLN 110 million in the first nine months of this year vs. PLN 60.5 million in Q1-Q3 2023).
– The results achieved during the reporting period confirm the strong position and financial stability of the Capital Group. We experienced growth in each segment of our operations. A significant factor influencing financial metrics was the continued development of the “Bulwary Praskie” residential project, where we recorded final sales revenues from 166 apartments, whereas in the comparative period we were still in the construction phase. Our commitment to growth in this area will ensure the Group continues to achieve solid financial results in future periods as well. - explains Katarzyna Budnicka-Filipiuk, CEO of Mennica Polska.
The increase in profitability ratios, compared to the same period last year, in the minting products segment was mainly due to economies of scale and improved profitability on foreign contracts. In the electronic payments segment, this was attributed to a gradual increase in passenger traffic, as well as an improvement in the relationship between revenues and operating costs. In the real estate development segment, we recorded revenues from the sale of apartments within the “Bulwary Praskie” project, which has a higher profitability compared to the other segments of our operations. Additionally, in the area of office space leasing, the Group achieved full occupancy of the rented space, which was reflected in an improvement in the profitability ratio.
Mint products
After the first three quarters of the current year, revenues in the minting segment were nearly PLN 127 million higher (PLN 755.8 million in the first nine months of this year vs. PLN 629.3 million in Q1-Q3 2023). The segment's profit for the reporting period amounted to PLN 38.7 million (compared to PLN 33.6 million in Q1-Q3 2023). EBITDA reached PLN 44.6 million (up from PLN 38.5 million in Q1-Q3 2023).
Electronic payments
During the reporting period, revenues in the electronic payments segment were higher than in the same period last year, amounting to PLN 172.1 million (compared to PLN 169.5 million in Q1-Q3 2023). The segment's profit was PLN 8 million (up from PLN 6.6 million in the same period last year). EBITDA reached PLN 16.3 million (compared to PLN 14.6 million in Q1-Q3 2023).
Real estate development activities
In the first three quarters of this year, revenues in the development segment were over PLN 86 million higher compared to the same period last year (PLN 106.9 million vs. PLN 20.8 million in Q1-Q3 2023). The segment's profit increased by PLN 38.4 million (PLN 40.6 million vs. PLN 2.2 million in Q1-Q3 2023). EBITDA was higher by PLN 38.3 million compared to the first nine months of the previous year (PLN 42.5 million vs. PLN 4.2 million in Q1-Q3 2023).