Orbis Group has recorded a 65 percent rise in EBITDA in 2011 giving company a profit of PLN 288m. Revenues, meanwhile, increased by 2.6 percent to PLN 718.9m. “The better results year-on-year can be attributed to, among many factors, the sale of assets. Thanks to the revenue from sales the company was able to pay off all of its loans and liabilities and enjoys PLN 218.4m on its account at the end of the year,” said Marcin Stebakow, an analyst from brokerage house BPS. Orbis Group has recently sold some of its assets including stakes in Orbis Casino, Orbis Transport, the Hotel Bristol in Warsaw as well as assets in Tarnobrzeg, Płock, Kraków, Szczecin, Kalisz and Kołobrzeg. The value of the transactions came to PLN 296m while its profit grew to PLN 120m.
