In the first quarter of 2010, the Impel Group – the largest group of companies providing business services in the domestic market – achieved sales revenue of PLN 266 million, an increase of more than PLN 14 million compared to the first quarter of 2009. The Group generated an operating profit of PLN 10.85 million, i.e. over PLN 2 million more than in the same period last year.
“In the opinion of the Management Board, the results for the first quarter of 2010 show that another improvement in the annual results is very likely, despite the planned higher costs due to introduction of an integrated SAP system. New sales are rising and renegotiations of the existing contracts allowed us to maintain, and in some segments of activity improve, the operating profitability despite an increase in the minimum wage. The financial results were positively received by the market and provide a firm basis for an increase in the value of our shares. We are optimistic about 2010. We look at the current market situation as an opportunity. In accordance with our strategy we are modifying our function for the customer, by becoming a business advisor who recommends changes that will be visible primarily in the long-term perspective. We are convinced that the actions we have already taken have proven our integrity and reliability in this regard,” says Grzegorz Dzik, the President of the Management Board of Impel SA.
2010 marks the 20th year in business for the Impel Group. In the first quarter of 2010 the two largest Units, i.e. Facility Management (cleaning services and technical maintenance of facilities) and Security reported an increase in sales revenue, achieving PLN 124.58 million and PLN 103.35 million, respectively. Profitability obtained by both those segments resembles the results in the same period of 2009 (Facility Management 6.1%, Security 7.9%). However, it should be stressed that since January 2010 the companies of the Group incurred much higher operating costs associated with the implemented Integrated IT System, which means that the achieved profitability without such liabilities is higher and amounts to 7.3% and 8.6%, respectively. We can also observe a significant improvement in the segment of Distribution, where profitability increased by 2% and amounts to 0.8%.
At the beginning of the year the Company strengthened its leadership in the provision of services for the army by the Business Unit 2 – Security and in the hospital sector by the Business Unit 1 – Facility Management.
“In the first quarter of 2010 we won 55 contracts, of which 42 contracts represented new sales. Revenue from that activity amounts to approx. PLN 13 million, with the greatest values obtained from agreements with Base Point Hel (Punkt Bazowania Hel) and the Military Units in Rzeszów and Skwierzyna. The first quarter profits were also influenced by the record revenues in the Facility Management Business Unit. We are strengthening our position in the provision of services to the public sector, mainly hospitals, which already account for over 30% of our revenue. In the first quarter we already managed to acquire new contracts. Customers who start cooperating with our Company choose experience, comprehensiveness of the offer, specialisation, and delivery of consistently high quality services. We decide to provide our Customer with specific standards, which we implement in a planned way at our organisation. Book of Standards, Code of Ethics of Security Employees, and Business Code of Ethics serve to improve our competitiveness, whose main purpose is the creation of an organisation which is both Customer- and employee-friendly. We systematize the rules followed in the area of human resources management, development of cooperation inside the organisation, and Customer care,” adds Grzegorz Dzik, the President of Impel SA.
From the viewpoint of property development investments undertaken by the Group together with Vantage Development, the year 2010 first of all marked the start of construction of the Centauris housing estate at ul. Ślężna in Wrocław.
“The strategy of expansion of property development activities involves execution of projects in the residential segment, targeting middle and upper classes. Our projects are offered at popular and higher standards. In the office segment we carry out class B and B+ office building projects. The Group has 7 investment sites located in Wrocław and in Serock near Warsaw, with the market value of more than PLN 400 million. At present there are four projects in the execution stage – two residential and two commercial. In April the construction works commenced on the Centauris housing estate, where 13 buildings will be erected with over 400 higher standard flats. The estate will be situated on a 2.4 ha plot. We will offer for sale to our Customers 26 thousand square metres of floor area. The investment was divided into 3 stages, which are scheduled for completion in 2013. The next project, whose first stage will be completed in the third quarter of 2010, is the construction of an estate of detached houses, located in Sadków, in the southern suburbs of Wrocław. Commercialisation is also underway on the Gamma office building. The project involves the construction of 13.7 thousand square metres of offices and service areas. While in 2009 our property development activity focused mainly on preparations to start investment processes, in 2010 it has already entered the execution stage,” adds Wojciech Rembikowski, Vice-President of Impel SA.