EN

In 2023, the Śnieżka Group generated sales revenue of PLN 857,773 thousand, 8.3% higher than in 2022. Consolidated net profit was PLN 83,481 thousand (102.3% higher year-on-year). Net profit attributable to equity holders of the parent amounted to PLN 77,634 thousand (+111.6% year-on-year).

857,8 mln PLN

Group revenue

The consolidated performance was positively influenced by higher sales on the Polish market, which has a dominant share in the Group’s total revenues, and significantly higher sales on the Ukrainian market, which is rebuilding its share in the Group’s revenue structure. It is important to emphasise the importance of implementing a long-term marketing and sales strategy. It includes, inter alia: consistent implementation of product price changes in response to rising production costs, as well as due to higher costs of running a business (mainly costs of transport, logistics, financing and salaries). Lower sales on the Hungarian market had a negative impact on revenues in 2023.

The carbon footprint of the Śnieżka Group in 2023 was 143,620 t CO₂e. Compared to 2022, emissions decreased by 6.2%, and compared to the base year 2020 – by 31%. The Group has a steady decline in its carbon footprint in both direct and indirect emissions.

The reduction of GHG emissions by the Company occurred in all three scopes of the carbon footprint, i.e. it covered both indirect and direct emissions.

Our business model

At the heart of the Group's business model is the ability to create high-end products and manage strong, recognizable brands (including: Śnieżka, Magnat, Poli-Farbe, Vidaron, Rafil and Foveo-Tech).

This assumption stems from the awareness of consumers and business partners’ expectations and needs. We have worked out our development projects and processes in such a manner so that our Group would be ready to embrace challenges of the future, as well as to identify and shape trends in the market of decorative paints and construction chemicals.

The year 2023 was successful for us. Up against market challenges such as high inflation and interest rates, which resulted in weakened consumption, we demonstrated good preparation. The solid foundations built over the years turned out to be the key factor of our success. These include strong and valued brands by our customers and effective sales and marketing strategies, including pricing.

Piotr Mikrut President of the Management Board

Strategic approach to ESG

The year 2023 is the first year of implementation of the Strategy. It is divided into three pillars and describes nine priority areas, 21 strategic objectives and 71 operational objectives assigned to them.

For each of the defined key areas, the Strategy determines a specific organizational unit responsible for its implementation. The Śnieżka Group monitors progress in sustainability through non-financial performance indicators. The ESG strategy constitutes an integral part of Śnieżka’s operations, addressing the growing expectations of consumers and the need to protect the environment. In 2023, our efforts in this area were recognised by EcoVadis, the world’s leading provider of ESG ratings, which awarded Snow White a Gold Medal, placing us in the top 5% of companies that have passed the certification process.