Poland-based Stalprofil has announced its financial results for the first quarter this year.
In the given quarter, the company reported a net profit of PLN 41.38 million ($9.62 million), up by 126.8 percent year on year. In the first quarter, Stalprofil’s sales revenues totaled PLN 603.09 million ($140.46 million), up by 42.5 percent year on year, while its EBITDA was PLN 56.93 million ($13.26 million). In the given period, the company recorded an operating profit of PLN 53.02 million ($12.34 million), up by 121.3 percent compared to the first quarter last year.
The war between Russia and Ukraine has caused raw material and energy prices, and, concurrently, steel prices to increase. Although the surge in raw material prices has created a risk for the company on the cost side, higher steel prices contributed to the company’s financial results.
