Selena Group, a global manufacturer and distributor of construction chemicals, has summed up its financial results in the first quarter of 2022. The company has reported record-high revenues of PLN 421.6 million, up a significant 20.6% YoY. Operating profit has also increased by 30.5% to PLN 25.8 million. After Q1 2022, gross profit margin stands at 32.1%, up 2.3 p.p. on the year-ago figure.
The beginning of 2022 brought us relative peace amid partial stabilization of raw material prices and supply chains. Just as the whole world was looking forward to further stabilization, the war heavily impacted on economic relations in Europe and globally. Selena Group does more than observe the emerging developments in the world or European geopolitics and, consequently, in macroeconomics. Despite the headwinds, we are continuing our strategy of flexible response and adaptation to the conditions prevailing in individual markets
says Jacek Michalak, CEO of Selena Group.
Jacek Michalak, CEO of Selena Group
The robust results for the first quarter of 2022 are testament to the improvement of our product margins. The Group puts a high premium on constantly increasing the share of sales of innovative products with a higher margin. On a global scale, during the first months of the year, Selena Group also benefited from the lower volatility of raw material prices. We’re also closely looking at Western European and US markets, where we’ve successfully redirected our supply from Eastern markets
Michalak added.