Polwax made its debut on the Stock Exchange – Money.pl

Polwax made its debut on the Stock Exchange – Money.pl

2014-10-06 11:50

Author: (MR), (PAP)

Dominik Tomczyk, president Polwax SA [Photo: press materials Polwax]

Share producer and distributor of paraffin waxes rose at the opening debut session on the Warsaw Stock Exchange by 1.3 percent to 15.20 dollars. Polwax a former subsidiary Lotus – Lotus Parafiny. At the beginning of 2012 there was a management buyout, which was attended by managers, investors and passive private equity fund. There is no known amount, after which the company was purchased by Group Lotus.

Polwax is a manufacturer and distributor of refined and odwanianych paraffin and paraffin waxes. The company has a plant in Jaslo for the production of paraffin and a plant in Czechowice, where the production is carried candles and candles.

In the recently completed public offering the company placed all of the 3,819,865 shares offered representing 38.20 % of its share capital at a price of 15 dollars. Institutional investors took 85% of the shares. For individual investors went in turn 15% of the shares, and the rate of reduction in this tranche amounted to 57.9%. Offering shares was Brokerage House mBank.

– Today’s debut is the culmination of several months of work by many people involved in the publicity Polwax. I would like to thank all our employees and advisors for their commitment, so that today we begin your internship exchange. We are the only industry representative on the Stock Exchange of paraffin and we are pleased that we were able to interest you in this niche industry perspective at the same time – so enter the WSE commented Dominik Tomczyk, CEO Polwax.

– Special thanks to our investors who rely on vision and strategy Polwaksu. We are pleased that in the first minutes of the Company’s presence on the trading floor we can confirm the validity of the investment made by them. We assure you that we will continue to build value for all shareholders of the company – he added.

For the previous fiscal year Polwax achieved sales revenues of EUR 241.1 million, 27.5 million of EBITDA and earnings net of 20 million. In the comparable period of 2012 years the company’s revenues amounted to 260.5 mln zł, EBITDA of 30.2 million zł, a net profit of 19.4 million zł.

In the first half of 2014. Polwax showed 95.6 million zł revenue from sales. EBITDA for the period was 12.2 million zł, and net profit 8.4 million zł. In the same period of 2013, the company’s revenues amounted to 85.8 mln zł, EBITDA amounted to 9.4 million zł, and a net profit of 5.9 million zł.

Polwax not give any forecasts the coming years. The company’s representatives, however, put more on stable dividend payout than the high rate of growth results. – Our dividend policy is to allocate 30-50 percent. net profit for dividend. In 2013, we spent 50 percent dividend. profit. We consider an increase in the future, this level – Tomczyk said at a conference informing of plans to enter the main market of the WSE.

– Our strategy is to achieve a position in the domestic market of one of the main suppliers of paraffin products in industries of fertilizer, wood, rubber, packaging, food and casting. We want to expand our sales in Poland and Western Europe, and eventually also in Africa and the Far East – said in September the company’s CEO Dominik Tomczyk.

Strategy Polwax implies organic growth, the company does not conduct active action in order to search for potential acquisition targets. This does not preclude, however, take such discussions, if there was an interesting offer. Polwax underlines its stable financial position and notes that do not need to raise new financing. Wants to pursue investments from its own resources, has no plans to issue shares, may possibly consider a bank loan, if there was such a necessity.