43/2007: Supervisory Board's brief assessment of the Company's standing
In accordance with Rule 18 of Best Practices the Board of Directors of PBG SA hereby publishes a brief assessment of the Company''s standing issued yesterday by the Supervisory Board.
"2006 marks another year of robust organizational and financial growth for PBG SA. The Board of PBG SA consistently implements the next phase of the adopted strategy aiming at building a Polish construction group with a strong capital and executive background. Due to the delivery of investments financed by EU-funds revenues skyrocketed, in particular in the field of environmental protection. Material contracts related to natural gas and crude oil have been concluded. The assumption of control over Hydrobudowa ?l?sk, a company with extensive experience and executive potential in 2006; and a planned merger of Hydrobudowa ?l?sk with Hydrobudowa Włocławek in 2007, as well as enlargement of the Group with Hydrobudowa 9 SA demonstrates that PBG SA is to build up a very strong entity offering specialist construction services in the field of environmental protection and hydrotechnics, with extensive expertise, references, executive potential and order portfolio. In 2006 the Board of PBG S.A. successfully issued series E shares, which brought PLN 138 million. The resources gained by way of the issue enabled PBG S.A. to acquire Hydrobudowa ?l?sk SA.
The Supervisory Board positively assesses the Board''s 2006 operations in terms of consolidating the Company''s position in the natural gas and crude oil sectors, expansion in the hydrotechnical market and winning new clients on foreign markets.
In 2006 individual revenues increased by 21.43%, profits by 95.58% on the last year, while the Company''s capitalization went up to reach PLN 3.1 billion at the end of 2006.
The Supervisory Board of PBG SA issues a positive opinion on the Board''s operations in terms of implementing a long-term strategy of the Company''s value growth for all shareholders."
Legal basis:
Rule 18 of Best Practices
Signature of the authorised person:
Magdalena Eckert-Borut
Pliki:
Full version of report (.pdf - 51,64 kB)