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Impel – further growth and better Q1 results

08 f 2008

Analysis of the results of the two largest business units indicates a consistent pursuit of growth in sales revenue – Facility Management Unit generated more than PLN 100 million in Q1, and Security nearly reached PLN 90 million.

Wojciech Rembikowski, Vice President of Impel SA Management Board says: “We follow a strict policy towards our Clients who tend to accept our arguments that while entering into contracts with us the price is not the deciding factor. There are other key aspects which are not influenced by service providers, such as the changes in the labour market resulting in an increase of the national minimum wage rate by 20%. We are the largest provider of outsourcing services, and our assets include experience, scale of business activities, as well as quality and comprehensiveness of service. Given the fact that the capital market expects increasing profitability ratios of our business, we are withdrawing from those contracts which offer unsatisfactory margins“.

The Impel Group is developing its operations towards the provision of highly specialized services. Impel Cleaning, the leading provider of cleaning services, was granted the Airport Handling Agent Certificate issued by the Civil Aviation Office, which will enable the company direct cooperation with airlines across the European Union. Impel Cleaning is the first private Polish company to receive this authorization.

Wojciech Rembikowski adds: “The Airport Handling Agent Certificate is a major event. Polish market of air transport services is currently the most dynamically developing air transport sector in the world, in terms of increase in the number of passengers, and has high growth potential. The Certificate will enable the company to directly cooperate with airlines offering passengers flights within Europe. In the future, Impel Cleaning intends to extend the activities relating to ground service of airlines, by including further categories connected with passenger service, baggage handling and the apron area handling or aircrafts”.

The Group is gradually expanding the operations of its companies beyond the territory of Poland. In May, following the completion of the process of contract transfers, Impel Gryffin will disclose its first revenues, including those from newly acquired customers. Impel’s British company Impel UK Ltd. signed its first contracts for provision of security services in Great Britain, including those with Resource Pall Mall Ltd. and AJAY Business Centre, a facility management firm. Impel UK Ltd. was also grated the ACS quality assurance certificate enabling the holder to provide services in compliance with the requirements of the Security Industry Authority (SIA) – a government agency regulating the private market of guarding services on the British Isles. The certificate will enable the company to dynamically engage in winning new contracts.

The assumptions of the Investment Agreement are being consistently followed, and the Impel Group’s real estate is being contributed to Vantage Development Company in return for shares. To date, Impel SA acquired 25.9% shares. Based on the Impel Group’s Land Bank, Vantage Development has begun selling the first 43 houses of the Sunny Orchards (Słoneczne Sady) housing estate. Słoneczne Sady will ultimately have 129 one-family detached and terrace houses, located in Sadków near Wrocław. The sales generated by the entire Sadków project will exceed PLN 100 million. Another development project of Vantage Development is the Ślężna Street project in Wrocław, executed with a partner company BNM3 Sp. z o.o., involving erection of approx. 350 high standard flats in an estate called Centauris. In the direct vicinity of Wrocław’s Old Town, the developer also intends to erect a flats and offices complex in Rychtalska Street, within a 15 ha plot.

Impel – further growth and better Q1 results (83.09 kB)
In Q1 2008, the Impel Group – Poland’s biggest provider of outsourcing services – achieved sales revenue of PLN 238.38 million, i.e. up by PLN 26.97 million relative to Q1 2007. The Group generated operating profit of PLN 4,496 million and net profit of PLN 1,384 million (i.e. an increase by 200% compared to the first quarter of the previous year).