CR 05/2018 Selected preliminary consolidated financial data of LPP Capital Group for the fourth quarter of 2017 and for 2017

Current report no.: 05/2018

Date: 16.02.2018; 18:27

Selected preliminary consolidated financial data of LPP Capital Group for the fourth quarter of 2017 and for 2017                                                                               

The Management Board of LPP SA hereby announces selected preliminary consolidated financial data of LPP SA Capital Group:

1)    for the fourth quarter of 2017:

• Revenues: PLN 2,148 million,

• Gross profit on sales: PLN 1,246 million,

• SG&A costs: PLN 862 million,

• Operating profit (EBIT): PLN 373 million,

• Net profit: PLN 302 million

2)    for period from 01.01.2017 till 31.12.2017:

• Revenues: PLN 7,029 million,

• Gross profit on sales: PLN 3,719 million,

• SG&A costs: PLN 3,100 million,

• Operating profit (EBIT): PLN 575 million,

• Net profit: PLN 444 million

Selected balance sheet data as at 31.12.2017:

• Inventories: PLN 1,470 million (approx. PLN 1,484/m2)

• Loan liabilities: PLN 198 million

• Cash: PLN 516 million

Compared with the same period last year the increase in revenue in the fourth quarter of 2017 was 16%, in 2017 was 17%. Sales in comparable stores (LFL) in local currencies in the fourth quarter of 2017 increased by 12.9%, and cumulatively for the four quarters of 2017 by 10.1%.

Trade margin in the fourth quarter was 58.0%, in 2017 was 52.9%.

Operating profit for the fourth quarter of 2017 amounted to PLN 373 million, compared with PLN 199 million in the same period a year ago. Operating profit for 2017 amounted to PLN 575 million, compared with PLN 226 million in 2016.

The balance of financial income and expenses in the fourth quarter of 2017 and in 2017 was negative and amounted respectively to PLN 25 million and PLN 15 million.

In the fourth quarter of 2017 LPP Capital Group generated a net profit of PLN 302 million, in 2017: a net profit of PLN 444 million.

The calculations of these data have been made according to the current knowledge of the Management Board.

Please also note that a detailed financial report will be published on 14th March 2018.