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2017 was a record-breaking year for the sales of products, goods and materials achieved by the Stalprodukt S.A.
President of the Board,
Member of the Board,
Member of the Board,
of particular segments
In 2017, the total sales of the Capital Group’s operating segments amounted to PLN 3,501.1 million, which stands for their increase by 11.5 percent in relation to 2016.
1 July 1992
The year 2017 was marked by two important anniversaries related to the Stalprodukt Company’s operation: 25th anniversary of the Company’s business start-up and the 20th anniversary of its presence on the Warsaw Stock Exchange.
25th of activity Stalprodukt
In 2017, Stalprodukt made its first ever foreign acquisition in the history of the Company’s activities – purchase of 100% of shares of the GO Steel Frydek Mistek a.s company based in the Czech Republic from ArcelorMittal S.A. based in Luxemburg. The closing of the transaction took place on 28 February 2018.M
The purchase of GO Steel Frydek Mistek a.s. transaction will enable the Stalprodukt Group to expand its product range with cold rolled steel sheets produced by the newly acquired entity.
Purchase of the GO Steel Frydek Mistek
In the opinion of some stock market analysts, in the medium-term and longterm perspective, one can notice a number of strong arguments indicating that ”Stalprodukt’s securities will make one of the best exposures in the field of industry among the WSE-listed entities”. On the other hand, others emphasized the Stalprodukt’s well diversified business model.
Stalprodukt’s share price in 2017W
Stalprodukt on Stock Exchange Market
Considering the achieved results, the year 2017 was slightly poorer than 2016 for the Stalprodukt Capital Group. The Group recorded an increase of sales, but at the same time both the profit on sales, operating profit and net profit went down. Poorer results were recorded in two out of three basic operating segments reported by the Group
The year 2017 saw the improvement of the Capital Group’s financial standing, which is reflected by the economic and financial ratios related to liquidity. At the same time, the Group recorded a poorer rate of return at all the levels of the profit and loss account.C
The Company started its operation as the Metallurgical Processing Plant ”Stalprodukt” S.A. on 1 July 1992. It was formed on the basis of the two existing departments of the Krakow-based T. Sendzimir Steel Works situated in Bochnia.
The crowning of the mutual efforts made by the employees and the Board was the Company’s listing at the Warsaw Stock Exchange.
In the first half of 2001 a data warehouse was launched to allow for a multi-dimensional analysis of the production process, sales and warehouse operations. At the same time, the IFS Optima Controlling component was launched to enable the generation of financial reports, conducting the ratio analysis and assessment of the Company’s achievements on the basis of the data acquired from the accounting component. Another function of the component is the budgeting and production costs analysis.
In January 2002, a new personnel management system, developed by the Polish DST company, was introduced to take over the entire staff and payroll services in the Company.
Modernization of the decarburization line in the Electrical Sheets Segment. Within the framework of this project, a nitrogen generation and storage plant and hydrogen discharge and storage station were put into operation.
changes to the Company’s shareholding structure. They resulted from the privatization of Polskie Huty Stali S.A, the Company’s major shareholder. On 5 March 2004, the Polish government signed an agreement for the sale of 60 percent of the PHS S.A.’s shares. The acquirer was the LNM Lakshmi Mittal’s concern, which soon established Ispat Polska Stal S.A. company in this place, subsequently operating under the business name of Mittal Steel Poland S.A. The company became the major Stalprodukt’s shareholder.
Stalprodukt acquired the state-owned enterprise Elbud situated in Krakow and, after its restructuring, developed the production of steel structures there. The company also embraces a hot-dip galvanizing plant.
The Stalprodukt’s distribution network was expanded with another trade warehouse in Koszalin. In the second stage of the network expansion, in the years 2002-2005, it was supplemented with sales offices in a few Polish cities. Thanks to this, as much as 80 percent of the profiles produced in the Company are sold through the Company’s own distribution network.
Company made another take-over; by a new shares issue Stalprodukt took over a controlling interest in Cynk-Mal S.A. based in Legnica (after a few years the participation was increased to 100 percent).
Stalprodukt successfully completed a long-term investment project connected with the expansion of the production capacity in the segment of transformer sheets up to the level of 100 thousand tons per year. The outlays expended for the implementation of the entire project totaled PLN 370 million.
The year 2012 brought the biggest takeover transaction in terms of value in Stalprodukt’s entire history – the purchase of 86.92 percent of shares in Zakłady Górniczo-Hutnicze ”Bolesław” S.A. based in Bukowno, Poland’s biggest producer and supplier of electrolytic zinc.
In the period from 1 January to 19 October 2017, the Stalprodukt Supervisory Board was composed of:
Stanisław Kurnik - Chairman of the Board
Maria Sierpińska - Vice-chairman
Kazimierz Szydłowski - Secretary
Janusz Bodek - Member
Sanjay Samaddar - Member
Tomasz Plaskura - Member
Magdalena Janeczek - Member
In the period from 19 October to 31 December 2017, the Stalprodukt Supervisory Board was composed of:
Janusz Bodek - Chairman of the Board
Sanjay Samaddar - Vice-chairman
Magdalena Janeczek - Secretary
Agata Sierpińska-Sawicz - Member
Stanisław Stańdo - Member (from 19 October to 30 November 2017)
Romuald Talarek – Member (from 19 October to 30 November 2017)