Select a product line:
![Anticorrosive coatings](/gfx/izostal2/_thumbs/en/corekategorie/136/iz_antyk,mn184GejllrYo7DjVJ2o.jpg)
Anticorrosive coatings
![Steel pipes](/gfx/izostal2/_thumbs/en/corekategorie/152/r_stalowe,mn184GejllrYo7DjVJ2o.jpg)
Steel pipes
![Metallurgical products](/gfx/izostal2/_thumbs/en/corekategorie/141/wyroby_hutnicze1,mn184GejllrYo7DjVJ2o.jpg)
Metallurgical products
General Terms of Sale
Current reports A A A
Correction in the financial results forecasts of Izostal S.A. for 2010
Report no.: 15/2011
Date of issue: 2011-02-10
Legal basis: Art. 56 clause 1 item 2 of the Offering Act - current and periodic information
SUBJECT:
Correction in the financial results forecasts of Izostal S.A. for 2010
CONTENT OF THE REPORT:
The Management Board of Izostal S.A. (Company) having closed the analysis of the financial results of 2010, corrects the Company results forecasts for 2010 published in the Company Prospectus approved by the Financial Supervision Authority on December 8, 2010.
- Sales revenues before the correction - PLN 122,505 thousand; after the correction - PLN 138,329 thousand
- Dynamics: before the correction - 135.8 %; after the correction - 153.3 %
- Operating costs (costs of products, goods and materials sold, costs of sales and overheads): before the correction - PLN 111,654 thousand; after the correction - PLN 128,554 thousand
- Dynamics: before the correction - 135.0 %; after the correction - 155.4 %
- Gross sales profit: before the correction - PLN 21,219 thousand; after the correction - PLN 20,520 thousand
- Depreciation and amortization: before the correction - PLN 3,460 thousand; after the correction - PLN 3,706 thousand
- EBITDA: before the correction - 16,008; after the correction - 14,836
- Operating profit: before the correction - PLN 12,548 thousand; after the correction - PLN 11,130 thousand
- Net profit: before the correction - PLN 7,045 thousand; after the correction - PLN 7,438 thousand
- Dynamics: before the correction - 138.9%; after the correction - 146.7%
The above-mentioned dynamics refers to the comparison against 2009.
The correction of the forecast for 2011 was done in connection with the difference in sales revenues, operating costs and operating profit exceeding 10% against the recent forecast announced to the public.
Higher sales revenues are caused by completion of certain orders in advance. Earlier completion was caused by the purchase requirement reported by the customers.
Higher sales revenues resulted in higher operating costs.
Lower operating profit is due to establishment of cost provisions.
Result forecast for 2011 is not subject to changes.
Specific legal basis: Art. 31 of the Regulation of the Minister of Finance of February 19, 2009 on current and periodic information submitted by issuers of securities, and conditions of recognizing information required by law of a non-EU state as equivalent.
SIGNATURES OF PERSONS REPRESENTING THE COMPANY:
Management Board President, General Director, Władysław Mrzygłód 2011-02-10
Management Board Vice President, Financial Director Marek Mazurek 2011-02-10
INFORMATION ON THE ENTITY:
Full name of the issuer: IZOSTAL SPÓŁKA AKCYJNA
Abbreviated name of the issuer: IZOSTAL S.A
Sector based on the classification of Warsaw Stock Exchange: Other industry
Address: 47-120 Zawadzkie Polna 3
Telephone: (77) 405 65 00
Fax: (77) 405 65 01
e-mail:info@izostal.com.pl
www.izostal.com.pl
VAT No. [NIP]:756-00-10-641
Statistical No. [REGON]: 530884678