Sescom recorded PLN 1.77 million of consolidated net profit attributable to the shareholders of the parent company in Q1 of the financial year 2020/2021, i.e. from October 1 to December 31, 2020 compared to PLN 2.68 million profit a year earlier, according to a report from the company.
The operating profit amounted to PLN 2.37 million versus PLN 3.92 million profit a year earlier. The EBITDA profit amounted to PLN 3.4 million and was 31% lower than in the previous year. Consolidated sales revenues reached PLN 36.32 million in Q1. 2020/2021. compared to PLN 43.73 million a year earlier. In Q1 2020/21, the group completed 26,944 orders for 280 clients from 21 countries, it was reported.
“Unblocking trade and services, the ongoing vaccination program and the prospect of getting out of the pandemic should contribute to an increase in consumer spending, which will translate into an increase in the activity of stationary trade and the return of network customers to the original investment assumptions in terms of maintaining and modernizing facilities and devices located in them. We also notice the growing importance of new technologies in business and the progressive computerization and automation of enterprises, which in a broader perspective may be a factor influencing the development of sales and processes within the organization for the Sescom group. technical maintenance services “- said president Sławomir Halbryt.
Restrictions resulting from the epidemic, including HoReCa industry and retail outlets located in shopping malls, including Sescom customers, contributed to a decrease in their sales, which translated into a reduction in demand, among others for FM services. As a consequence, Sescom’s turnover and profits are declining, it noted.
At the end of December 2020, the company had cash in the amount of PLN 16.3 million, compared to PLN 17.5 million at the end of September 2020. The net debt / EBITDA ratio at the end of December 2020 was -0.99 – cash exceeded the value of the company’s financial liabilities.
One of the key development areas of the company are new technologies to optimize and increase business efficiency and zero-emission energy sources – including hydrogen and the HGaaS project – aimed at creating an ecosystem for the use of hydrogen generated in small and medium-sized RES installations. In order to commercialize the company, the company develops two devices: an electrolyser for the production of hydrogen and a hydrogen boiler for heating applications. Both in the first quarter of 2020/21 reached the form of a prototype, enabling laboratory tests to be carried out.
Sescom in the first quarter of 2020/21 held talks on cooperation with potential suppliers and recipients of hydrogen technologies. In January 2021, Sescom became one of the signatories of the letter of intent with the Piła Commune and MZK Piła. The parties to the document declared that they would establish cooperation for the development of zero-emission collective transport and hydrogen infrastructure.
“The key to the further development of hydrogen projects is finding technology partners whose resources will allow for pilot prefabrication of equipment and preparation of production for the first commercial orders. We also count on support programs at the EU and national level, which will be focused on decarbonisation of public transport and zero-emission solutions in heating industry “- added Halbryt.
On a standalone basis, net profit in Q1. 2020/2021 amounted to PLN 1.1 million compared to PLN 2.7 million profit a year earlier.
The Sescom capital group specializes in the management and provision of facility management services for chain customers (HVAC equipment service, IT infrastructure service, and refrigeration, electrical and construction service). The company’s solutions provide savings in the technical maintenance of facilities and in media consumption. The company moved to the main market of the WSE in March 2018.
