Information on preliminary financial results for 2024
Legal basis Article 17(1) of the MAR – confidential information.
The Management Board of Przedsiębiorstwo Przemysłu Spożywczego PEPEES S.A. (the Company, the Issuer) announces that on 17 March 2025 the process of aggregation of financial data carried out for the preparation of the Company’s and the Issuer’s Capital Group’s reports for 2024 was completed, and thus the decision was taken to make public the preliminary financial results for the aforementioned period.
Preliminary results for 2024 are presented below (figures for 2023 are shown in brackets).
Preliminary financial results of the Issuer’s Capital Group:
- revenue from sales: PLN 236,049 thousand (PLN 222,218 thousand)
- profit/loss from operating activities: loss of PLN 7,102 thousand (profit: PLN 12,170 thousand)
- net profit/loss attributable to parent entity’s shareholders: loss of PLN 14,701 thousand (profit PLN 3,999 thousand)
Preliminary financial results of Przedsiębiorstwo Przemysłu Spożywczego PEPEES S.A.:
- revenue from sales: PLN 177,916 thousand (PLN 169,273 thousand)
- profit/loss on operating activities: loss of PLN 6,227 thousand (profit of PLN 12,679 thousand)
- net profit/loss: loss of PLN 10,610 thousand (profit of PLN 7,778 thousand)
The Issuer reports that the loss for 2024 was mainly influenced by the lower market price of potato starch and an unfavourable cost structure, consisting of a significant increase in the cost of sales in relation to the revenue achieved. The high costs were mainly due to low production during the 2023 potato campaign, which affected the high unit costs of individual products as a result of under-utilisation of production capacity. It should be emphasised that all sales of product in the fourth quarter came from raw material from the 2024 potato campaign, which was better than last year’s and thus allowed for higher production.
Since September 2024, a gradual increase in the market prices of starch products has been observed, which caused both the annual loss of the Issuer and the PEPEES Capital Group to decrease compared to the amount of the loss generated after the first three quarters.
At the same time, the Issuer recalls that the final financial results for 2024 shall be reported in the annual reports (separate and consolidated, respectively), which shall be published on 21 March 2025.
Date Full name Position/Function Signature
17.03.2025 Wojciech Faszczewski President of the Management Board
17.03.2025 Tomasz Rogala Member of the Management Board