Warsaw – Ciech, the Polish conglomerate that owns the Pianki polyurethane foam business, said its first quarter sales in 2022 will be significantly higher than last year.
In preliminary Q1 sales guidance published on the Warsaw stock exchange, it projects that this year's Q1 sales will be between PLN1.2bn and PLN1.25bn ($281m-293m). Sales in the first quarter of 2021 were PLN861m.
EBITDA is likely to be between PLN 225 and PL235m for the first quarter of this year, the company said. Adjusted EBITDA in Q1 2021 was PLN222m.
The first quarter was of key importance, the company said, adding that the first quarter is when customers contract for the remainder of the year.
With the full first year numbers expected on 19 May, Ciech also issued sales and earnings guidance for the remainder of 2022.
The company said it expects consolidated sales to range between PLN4.3 and PLN4.5bn and EBITDA to be between PLN740-760m. 'The forecast was prepared based on the current market, operational and financial situation of the Ciech group,' it said.
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