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Action: Margin and net result on expected level

The 1st quarter of 2017 has expired for ACTION S.A. under the motto of continuation of restructuring actions, increasing the number of suppliers and expanding the offer. These actions, alongside constant cost optimization, have contributed to ACTION S.A. gross profit on 12 020 thousand PLN and net result at 13 501 thousand PLN. It means that the company has achieved financial results in line with the forecasts presented in the Restructuring Plan.

ACTION Capital Group S.A. in the analyzed period achived sales revenue in amount of 434 229 thousands PLN and gross profit on sales of 24 663 thousand PLN and net profit at the level of -17 601 thousand PLN.

First effects of restructuring
In the Restructuring Plan of Action S.A. published in early November last year, was presented two financial forecasts for years 2017-2021. First in the conservative variant, the second in the pessimistic. Both are presented on a yearly basis, but when we take into account the seasonality, it can be calculated that margins and net profit are within the range of proposed forecasts in the first quarter.

"I realize how big are the market expectations from us to achieve the tangible results of the restructuring process. Therefore I hope that the data for the first quarter of 2017 will be the best proof that the changes we make in our strategy are beginning to deliver a positive and measurable effect” – says Piotr Bieliński, President of the Board ACTION S.A.

Restricted Business Development
In the first quarter of 2017 ACTION S.A. the number of suppliers increased by 11%, the number of products indexes increased even by 72 %.

“According to the basic assumptions included in our Restructuring Plan, we resign from unprofitable and high risk contracts. In their place, we add to the offer products that are free of these threats and guarantee a satisfactory margin. It is worth noting that this strategy brings good results. In the first quarter of 2017 we retained a permanent number of customers even though that it was after the best time for the market – end of the year” - says Sławomir Harazin, Vice-President ACTION S.A.

We implement the Restructuring Plan
ACTION Restructuring Plan is an open attempt to respond to problems in the IT distribution industry. Contains a complete, tailored to current market realities, a development strategy of Action to effectively carry out the restructuring activities.

"We want to bring Action back to the path of dynamic growth, which is the overriding intention of our restructuring. Therefore, we implement the first actions outlined in our plan. At the same time, we continue a dialogue with the Board of Creditors in order to work out an optimal strategy for all of our parties through a difficult restructuring process" - adds Piotr Bieliński, President of Management board of ACTION S.A.

 

Date:: 2017-06-05 powrót
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