The Company’s bottom line in 2023 was primarily affected by:
- an increase in sales revenues by 11.3% to PLN 568,736 thousand;
- a decrease in selling costs by 0.6% to PLN 392,426 thousand, which was related to a decrease in sales in quantitative terms;
- an increase in selling costs by 8.2%, to PLN 27,346 thousand and an increase in general and administrative expenses by 26.0%, to PLN 78,644 thousand, resulting primarily from the increase in wages;
- income from dividends from subsidiaries in the amount of PLN 45,670 thousand, i.e. by 45.6% (PLN 14,295 thousand) higher than in the previous year;
- lower profit by PLN 2,269 thousand on other operating activities, stemming primarily from the revaluation of put options in the parent company’s report (related to the possible acquisition by FFiL Śnieżka SA of the remaining 20% of shares in Poli-Farbe Vegyipari Kft);
- higher loss on financial activities by PLN 3,794 thousand, primarily due to higher interest on loans and borrowings;
- higher income tax by PLN 4,251 thousand.