Selena, a global leader and distributor of construction chemicals and one of the four largest global producers of mounting foam for construction, has once again posted a strong set of results. In 2022, the Group cemented its position as a major player in the industry, generating solid sales revenue of over PLN 1.96 billion, an increase of 13.6% compared to 2021, and operating profit (EBIT) of PLN 153.6 million, up 65.7% year on year.
This is another year in a row when we have achieved high profits on our ordinary activities and solid sales revenue, which allows us to consolidate our position as a global player in the industry. The right decisions we made in 2021, such as diversifying our supply chains, expanding our activities to include research into innovative products and setting a new course for development in Western markets, allowed us to continue growth across the Group and generate strong performance in difficult times. However, the situation is so dynamic that it is difficult to make any reasonable forecasts about what developments – after the coronavirus pandemic or Russia's attack on Ukraine – the world will see, and how they will affect the global economy, industry and business. We are witnessing a market slowdown, especially felt in the second half of 2022. For several years now, we have observed that the only constant is change, which is why adopting a flexible approach is the only strategy that actually works. The strong results recorded in 2022 only confirm that we have chosen the right strategy, adapted to individual markets, and that we are on track towards meeting our goals
- says Jacek Michalak, CEO of Selena Group.
Jacek Michalak, CEO of Selena Group
Amid high volatility of orders, it was also important to make ongoing, fast and appropriate adjustments to quantities, batch sizes and the regions in which we operate. Our flexibility is strengthened by the diversified offering and the growing portfolio. The proper distribution of production capacity across countries is also important. We have concentrated on technological development of our plants, e.g. in Dzierżoniów, in Bolu, Turkey and in Quer, Spain – investing in equipment and production lines, in automation and robotization, as well as in raising safety standards
- comments Roman Dziuba, Chief Operating Officer.
Roman Dziuba, Chief Operating Officer
The outbreak of the war in Ukraine had a big impact on doing business in the East. Due to the geopolitical situation, we reoriented our strategic growth direction from the East to the West. We see potential in, for example, Western countries of the European Union, NATO-protected countries, the United States and Brazil. Our revenues went up strongly in North and South America on the back of our business development. We hope that the armed conflict across the eastern border will end as soon as possible and we will be able to return to our traditional markets, although we are set to maintain our growth in the West
- says CEO Jacek Michalak.