Wawel reported PLN 17.85 million net profit from continuing operations in Q3 2023, compared to PLN 7.28 million profit a year earlier, the company said.
Operating profit was PLN 19.7 million, compared to PLN 7.33 million profit a year earlier. EBITDA profit reached PLN 26.76 million against PLN 14.69 million profit a year earlier.
Sales revenues reached PLN 157.66 million in Q3 2023 against PLN 133.47 million a year earlier.
In the third quarter of 2023, the company generated a profit before tax of PLN 22.3 million, an increase of PLN 12.9 million, or 139%, compared to the same period last year. The company’s financial result in the third quarter of 2023, compared to the same period of 2022, was mainly influenced by the following factors: an increase in sales revenue by PLN 24.2 million, an increase in the value of cost of sales by PLN 8.3 million, an increase in the value of general and administrative expenses by PLN 3.4 million, an increase in the value of cost of sales by PLN 0.3 million, according to the company report.
With an 18% increase in revenue in Q3 2023 compared to the same period in 2022, there was also an increase in costs, especially cost of sales resulting mainly from an increase in the price of materials, energy and direct-production salaries. The increase in costs was less dynamic than the increase in sales, resulting in an increase in operating profit in the comparable periods, Wawel further reported.
In Q1-Q3 2023, the company posted net profit of PLN 43.27 million from continuing operations, compared to PLN 15.63 million profit a year earlier, on sales revenue of PLN 445.19 million, compared to PLN 375.75 million a year earlier.
Wawel is a manufacturer of chocolates, bars, candies and chocolates, listed on the Warsaw Stock Exchange since 1998. Sales revenues reached PLN 585 million in 2022.
Source: Wawel and ISBnews
