The Impel Group – the largest group of companies providing services for business in the domestic market – achieved in 2010 sales revenue of PLN 1 billion and 110 million, an increase of more than PLN 77 million i.e. 7.5% compared to 2009. The Group generated an operating profit of over PLN 64 million, i.e. over PLN 16 million (over 30%) more than in the same period of last year.
The increase in the operating result was achieved despite over PLN 10 million of an additional expense generated by the Integrated IT System, which as of January 2010 is disclosed in the costs account of the Impel Group. The 3-year trend of significant improvement of results has been maintained. The net result of 2010 totals PLN 52.7 million and is higher than that of the corresponding period last year by PLN 19.2 million.
Grzegorz Dzik, the President of the Management Board of Impel SA stresses the point that “the good 2010 results were achieved mainly owing to consistent improvement of internal processes over the past three years, resulting in cost savings. An increase in the economies of scale resulting from centralization of purchasing, and cheaper logistics of services delivery also improved sales profitability. An increase in revenue by 7.5% in 2010 also contributed to the improved results. A key element of our strategy in the crisis time was to promote Impel’s services as a tool for restructuring our Client’s costs. The improved results over the last three years was accompanied by a distinct improvement in the quality of our services thanks to the implemented quality assurance schemes, as well as a wider use of the service platform and monitoring of services provided to Clients - Contact Center. We see the future for our services in activities integrating the services outsourced by Clients. In this way we shape our position as market broker of services delivered in cost-optimized packages, with special regard to combining the best features of offers of numerous subcontractors of core services.”
In 2010, the two biggest units – Facility Management (cleaning services and technical maintenance of facilities) and Security reported an increase in sales revenue from PLN 875 million in 2009 to PLN 937 million in 2010. Profitability achieved by these segments (taking account of the charges owed for strategic management) is similar to that of 2009 – Facility Management 5.8%, Security 7.8%. We can see a considerable improvement in the Distribution segment whose profitability rose from negative values to 6.8%.
Wojciech Rembikowski, Vice-President of Impel SA adds - “The Impel Group achieved an increased level of operating profitability by improving efficiency of the provided services. We reduce costs by increasing the number of external subcontractors in the core segments of our business i.e. Facility Management and Security. These companies provide services on our behalf, based on competitive terms, and we ensure the compliance of the service quality with the standards applied in our subsidiaries”.
The implementation of the Integrated IT System streamlined internal processes. The Group’s increased expenses resulting from the implementation of the system was balanced out by improved management efficiency, and a real decrease in the level of the organization’s indirect expenses.
Grzegorz Dzik, the President of Impel SA says – “Enhanced management in the back office brings the Group a lower share of organization’s indirect expenses. Improvement in the current financial liquidity achieved through better control of the incoming receivables as well as a reduction in the cost of external financing and stabilization of the debt level – these are the factors contributing to the 2010 result. A consistent introduction of systemic changes in managing the Capital Group results in visible improvement not only in internal processes. It also exerts influence on customer satisfaction. Our financial results are very well received by investors, and an increase in the value of IMPEL SA shares in the past year was faster than the rise of the key stock exchange indexes. An investment attractiveness of our Group results from the fair value of dividend paid to our shareholders, placing Impel among 30 best dividend payers”.
The key element of the strategy in the coming 3-year period of 2011 - 2013 will be improving results through a higher dynamics of sales. The source of this increase in sales will be the development through acquisitions, as well as activation of other areas of service.
Wojciech Rembikowski, Vice-President of Impel SA adds – “We will be passing our management standards, which in recent years were the main source of our improved results, to Clients as part of a new product line - Business Solution – containing embedded services: accounting, payroll/personnel and managing the reduction in labour costs. So far we took over these services from some of our Clients (including two listed companies), and a high profitability resulting from outsourcing these services to Impel was confirmed”.