Results of Treasury companies. Fatal second quarter

wbijamszpile.pl 9 months ago

Financial reports for the second 4th of 2024 showed the serious problems of many companies listed on the stock exchange of the State Treasury,” says banker.pl.

Of the more than 20 companies analysed, nearly half reported losses, and a comparison with the results of a year ago, erstwhile they were managed by individuals appointed by the erstwhile government, shows a dramatic decline. The situation of many of these companies has deteriorated significantly, which could pose a challenge to current power in managing their potential.

Companies with better results are exceptions

Of the 22 companies with capitalization exceeding half a billion PLN each, only 5 – PGE, Alior, PKO BP, KGHM and CHP – generated better profits than in the same period of the erstwhile year. 3 more companies, Enea, Energia and BOŚ, saw a change in profits, turning losses into affirmative results. Z.A. Puławy, Grupa Azoty and Polski Holding Nieruchomości besides improved their performance, but in their case it only meant smaller losses compared to the erstwhile year.

The profit was besides maintained by companies specified as Pekao, PZU, Trakcja and the Stock Exchange (GPW), though they were smaller than in the second 4th of 2023. However, the overall trend shows that the profits of many companies are under pressure, which translates into reduced profitability and influence.

Accounting records origin multiple losses

One of the key factors affecting this year's losses were mass accounting write-downs, peculiarly in the mining and energy sectors. JSW made the largest write-down, resulting in the failure of the value of coal assets at PLN 6.3 billion. Bogdanka, who is active in the coal industry, besides noted a immense write-off that led to a failure in the second quarter. full carbon write-offs, which amounted to PLN 7.4 billion, had a crucial impact on the overall financial performance of the companies.

Even though these write-downs have burdened this year's performance, even without their consideration the financial condition of the companies was much worse. The full consequence for the second 4th of 2024 was 39 percent lower than in the same period the year before. Among the 22 companies analysed, 10 reported losses, and as many as 11, despite affirmative results, reported a worse net consequence than last year.

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