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Impel Group’s revenue on the rise

28 f 2014

The Impel Group - the largest Polish provider of outsourcing services - ended the first half of 2014 with an increase in revenue of over nine percent. The consolidated net profit amounted to PLN 9.6 million, slightly exceeding the value recorded in the previous year.

Once again the Facility Management segment was the driver for the Impel Group's growth. In the first half of 2014 the segment generated revenue at the level of almost PLN 559 million, which represented an increase of over 13 percent in comparison with the corresponding period last year. The development of the Facility Management segment was accompanied by stabilised sales in the Security segment, which produced revenue at the level of PLN 233.6 million (an increase of 0.3% in comparison with the last year's figure). As anticipated by earlier announcements, a significant drop in profitability in the whole property security sector resulted in the Group's selective approach to entering into new contracts in this area.

The introduction of changes to the rules for subsidising the employment of the disabled as of 1 April 2014 caused a reduction in subsidies obtained by the Impel Group companies by PLN 5.4 million, which translated directly to a decline in operating profit. After the first six months of 2014 the Impel Group's consolidated operating profit reached PLN 22 million, i.e. 0.2% less than in 2013. The loss of subsidies was partly compensated by better results of specialists services in the Facility Management segment, which are less susceptible to changes in labour costs. In the period from January to June the Impel Group's net profit totalled PLN 9.6 million, which was similar to the figure recorded last year.

- For many years now the Impel Group has been operating in an unstable legal environment and the newly enacted regulations have gradually eliminated jobs. Changes in the rules for subsidising the disabled, which had a direct impact on our results, can serve as an obvious example of the above - commented Wojciech Rembikowski, Vice President of the Impel Group, and added - However, we are pleased to notice the first signs of a change in the existing approach. The regulations introduced by way of the amendment to the Public Procurement Law are heading in the right direction and, after their coming into force, a part of the problems which we are currently struggling with will be eliminated.

The amendment to the Public Procurement Law provides, among others, for the valorisation of the value of contracts concluded for a period longer than one year under the circumstances which are beyond the control of the parties to such contracts (including, among others, an increase in the minimum wages, VAT and social security contributions). In addition, in the case of the majority of public procurement contracts the price will no longer be the only criterion for selection.

DOC
Impel Group’s revenue on the rise (12.79 kB)
The Impel Group – the largest Polish provider of outsourcing services – ended the first half of 2014 with an increase in revenue of over nine percent. The consolidated net profit amounted to PLN9.6 million, slightly exceeding the value recorded in the previous year.