Selena Group has summarized its financial performance for 2021. The global producer and distributor of construction chemicals closed the year with net profit of PLN 102.7 million, the best result in the history of its operations. Despite the unstable raw material market and supply chain disruptions, the company cemented its market position and generated a robust set of results with sales revenues of PLN 1.73 billion, which is an increase of 24.8% YoY. Selena Group’s operating profit (EBIT) was PLN 92.7 million.
The strong results for the past year confirm the effectiveness of our flexible operating strategy in individual markets. We faced many challenges including uncertainty about how the pandemic would unfold, and the unprecedented instability of raw material prices and supplies in global markets. To mitigate the situation, we decided to expand and diversify supply chains and increase the working capital,
says Jacek Michalak, CEO of Selena Group, and emphasizes that 2021 was very well used to lay foundations for further growth and planned business expansion.
Jacek Michalak, CEO of Selena Group
We are looking for investment opportunities in the market. Due to the lack of availability of interesting projects that would meet our requirements, we decided to use part of the capital to purchase own shares. Our investment budget remains stable, and we believe that the use of capital to buy back our own shares is a very good investment. In our opinion, the value of our shares remains underestimated, so we decided to leverage the existing opportunities,
says Jacek Michalak, and adds that despite those headwinds, the implementation of the Group’s strategy was substantially on track.
Selena places a sharp focus on sustainable construction. We develop products that are environmentally friendly and increase the energy efficiency of buildings. And at the same time, we established in our organizational structure a department responsible for sustainable development. This is a strategic area for us, and we’ll be investing in it in the following years. As an example of this ambition, in April 2022, we launched a new production line for plant-based bioplastics, which is an outcome of the Biomotive project,
adds Roman Dziuba, Chief Operating Officer at Selena Group. The Group is also an active member of the Polish Green Building Council (PLGBC), which champions sustainable construction.
Roman Dziuba, Chief Operating Officer at Selena Group
The past year was important for Selena in terms of building foundations and values for our continued growth. We’ve invested heavily in human capital, reinforcing staffing at all levels, as we believe that our employees are the driving force behind the company's growth,
said Andrzej Zygadło, Chief HR Officer at Selena Group.
Andrzej Zygadło, Chief HR Officer at Selena Group