The share of subsidies in sales revenue amounted to 6.7%, running at a similar level to the previous quarter’s.
„Our basic and most important goal is high-quality comprehensive customer service, based on the effective management of a package of services. This is why we have made a decision to implement an integrated IT system. Signing a licence agreement with SAP company is a crucial moment in the history of the company. Moreover, a vital project which we started implementing in February this year is the process of linking the purchasing functions of all the divisions of the Group. After conducting an internal audit and analysis of the situation in the individual companies belonging to the Group, we estimate that the full implementation of this concept will enable us to save several or even between ten and twenty million zloty during 18 months. The Group also focuses on the development of the more and more promising areas of business such as real estate development services” – announces Edward Laufer, Vice-President of Impel S.A. – “In addition, in the 1st quarter, due to, among others things, growth of remuneration, the costs of obtaining and implementing new contracts have increased. We are trying to renegotiate contracts. We have been successful with many negotiations, but some of them resulted in terminating the cooperation. From the short-term perspective, this element plus growth of remuneration and higher than expected costs of restructuring lost contracts affected the current net profit. We are sure, however, that in the long-term, this policy will result in bigger profitability of the Group itself” – adds the Vice-President.
In the first quarter of this year, Impel made further steps to launch a new real estate development project. Design work has started on the construction of a housing estate in Wrocław, in ul. Rychtalska, in an area of 15 ha (including 6.7 ha that belongs to the Impel Group), and an office building of the area of about 20,000 m2. An architectural concept of a housing estate of detached houses, of the target area of 13.13 ha in a town near Wrocław, is also being developed. According to a valuation performed at the beginning of May by an independent consultant – Cushman & Wakefield company – the combined fair value of the real estate belonging to the Impel Group now amounts to PLN 270.8 million.
Another important event was signing, at the beginning of April, a preliminary agreement on the acquisition of shares in a Ukrainian company providing cleaning and maintenance services, selling machines, devices and cleansing agents. The acquisition of the company, which should be completed by the end of 2007, will enable Impel to enter the dynamically developing Ukrainian market.
„For a long time we have been announcing our readiness to expand into the neighbouring markets. We have been negotiating with potential partners, looking for solutions which, on the one hand, will have significant growth potential, and on the other hand, will be characterised by big investment safety. We hope that the transaction with the Ukrainian partners will come to a successful end, and still this year we will provide our services in Ukraine” – says Wojciech Rembikowski, Financial Director of the Impel Group.