APATOR S.A. Report of the Management Board on the activities of Apator S.A. and the Apator Group in H1 of 2023.
Toruń, 29 August 2023.
Report of the Management Board on the activities of Apator S.A. and the Apator Group in H1 of 2023.
Selected financial data, including key items of the summary consolidated financial statement (also converted into EUR)
in thousands PLN | in thousands EUR | |||
SPECIFICATION | current | preceding | current | preceding |
period | period | period | period | |
Consolidated statement | H1 of 2023 | H1 of 2022 | H1 of 2023 | H1 of 2022 |
Revenue from sales and services | 564,071 | 495,200 | 122,279 | 106,662 |
Profit on operating activities | 31,055 | 15,188 | 6,732 | 3,271 |
EBITDA | 58,998 | 43,492 | 12,790 | 9,368 |
Gross profit | 24,698 | 5,306 | 5,354 | 1,143 |
Net profit | 12,904 | 1,312 | 2,797 | 283 |
Net profit attributable to shareholders of the Group's parent company | 12,424 | 992 | 2,693 | 214 |
Net profit attributable to non-controlling interests | 480 | 320 | 104 | 69 |
Weighted average number of shares | 29,047,073 | 29,094,435 | 29,047,073 | 29,094,435 |
Net earnings per common share [PLN/share] | 0.43 | 0.03 | 0.09 | 0.01 |
Cash flows from operating activities | 18,811 | (26,312) | 4,078 | (5,667) |
Cash flows from investing activities | (17,764) | (27,535) | (3,851) | (5,931) |
Cash flows from financial activity | (11,411) | 32,913 | (2,474) | 7,089 |
Total cash flows | (10,364) | (20,934) | (2,247) | (4,509) |
Consolidated statement | 30.06.2023 | 31.12.2022 | 30.06.2023 | 31.12.2022 |
Total assets | 1,049,326 | 1,042,047 | 235,788 | 222,190 |
Fixed assets | 510,639 | 527,979 | 114,743 | 112,578 |
Current assets | 538,687 | 514,068 | 121,045 | 109,612 |
Equity with non-controlling interests | 545,864 | 539,148 | 122,658 | 114,959 |
Share capital | 3,265 | 3,265 | 734 | 696 |
Long-term liabilities and provisions | 79,729 | 45,174 | 17,915 | 9,632 |
Short-term liabilities and provisions | 423,733 | 457,725 | 95,214 | 97,598 |
Weighted average number of shares | 29,047,073 | 29,070,559 | 29,047,073 | 29,070,559 |
Net book value per common share [PLN/share] | 18.79 | 18.55 | 4.22 | 3.95 |
The above financial data for the 6 months of 2023 and 2022 have been translated into EUR according to the following rules:
- individual items of the statement of comprehensive income - at an exchange rate constituting the arithmetic mean of the average EUR exchange rates set by the National Bank of Poland on the last day of each month of the reporting period: from January 1 to June 30, 2023 - EUR/PLN 4.6130 and from January 1 to June 30, 2022 - EUR/PLN 4.6427;
- individual items of the statement of cash flows - at an exchange rate constituting the arithmetic mean of the average EUR exchange rates set by the National Bank of Poland on the last day of each month of the reporting period: from January 1 to June 30, 2023 - EUR/PLN 4.6130 and from January 1 to June 30, 2022 - EUR/PLN 4.6427;
- individual items of the statement of financial position - according to the average EUR exchange rate set by the National Bank of Poland as at June 30, 2023 - 4.4503, as at December 31, 2022 - 4.6899.
Entity name: | Apator Group | ||
Period covered by the financial statement: | 01.01.2023 - 30.06.2023 | Reporting currency: | Polish zloty (PLN) |
Rounding level: | all amounts are expressed in thousands of PLN (unless stated otherwise) |
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Report of the Management Board on the activities of Apator S.A. and the Apator Group in H1 of 2023.
Table of contents | ||
Selected financial data, including key items of the summary consolidated financial statement (also converted into EUR). 2 | ||
Table of contents | 3 | |
1. | General information | 4 |
2. | Summary of financial results | 6 |
3. | Information on factors that will affect the future results of the Apator Group | 13 |
4. | List of most significant events | 16 |
5. | Additional information | 18 |
6. | Parent company - Apator S.A | 23 |
7. Principles of preparation of condensed separate and consolidated semi-annual financial statements and
statement of the Management Board | 29 |
8. Information on the statutory auditor and the statement of the Management Board of Apator S.A. on selection of
the statutory auditor | 30 | |
9. | Summary | 30 |
Signatures | 31 |
Entity name: | Apator Group | ||
Period covered by the financial statement: | 01.01.2023 - 30.06.2023 | Reporting currency: | Polish zloty (PLN) |
Rounding level: | all amounts are expressed in thousands of PLN (unless stated otherwise) |
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Report of the Management Board on the activities of Apator S.A. and the Apator Group in H1 of 2023.
1. General information
This report of the Management Board for the first half of 2023 should be read together with the annual statement of activities of the Apator Group in 2022, available at the following link: https://www.apator.com.pl/relacje-inwestorskie/dane-finansowe-i-raporty-okresowe.
1.1. Organization of the Apator Group
The Apator Group is an international group of manufacturers and distributors of measuring devices and systems, as well as suppliers of innovative solutions for the automation of the power, water and gas networks.
11 national and | 9 production facilities | 2.4 thousand | 7 |
international | |||
employees | R&D | ||
companies | offices | ||
The companies of the Apator Group are part of the electromechanical sector and focus their activity on manufacturing and sales of measuring equipment (electricity meters, gas meters, water meters and heat meters), control and measurement instruments, distribution and control equipment, IT systems of SCADA class and their supporting telemechanics devices, security and other network devices for distributed systems ensuring the possibility of remote control and supervision of the power grid in the full voltage range, as well as data reading and transmission devices. The Apator Group also implements solutions supporting energy transformation and the development of renewable energy (e.g. automation equipment, RES supervision systems, energy storage facilities).
The parent entity of the Apator Group of Companies is Apator S.A. with its headquarters in Toruń.
listed on the | included | dividend |
Warsaw Stock Exchange | in the sWIG80 index | company |
for 26 years | and WIGdiv | |
1.2. Composition of the Apator Group and its business segments
Group structure as at June 30, 2023. and as at the date of publication of the report, is as follows:
Entity name: | Apator Group | ||
Period covered by the financial statement: | 01.01.2023 - 30.06.2023 | Reporting currency: | Polish zloty (PLN) |
Rounding level: | all amounts are expressed in thousands of PLN (unless stated otherwise) |
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Report of the Management Board on the activities of Apator S.A. and the Apator Group in H1 of 2023.
The operation of the Apator Group is organized into three segments:
Business segments
electricity | gas | water&heat |
Business Business
Companies forming the Segment
Solutions
electricity metering
switchgear
automation
ICT
- Apator S.A. (Toruń)
- Apator Rector (Zielona Góra)
- FAP Pafal (Świdnica)
- Apator GmbH (Germany)
- Electronic energy meters (household, residential, industrial, prosumer), including smart class solutions (with remote reading function)
- Energy distribution devices
- Control and supervision systems
- Measurement data management systems
- Solutions for RES (automation, RES management systems, energy storage)
- Apator Metrix (Tczew)
- GWi (the UK)
- Apator GmbH (Germany)
- Bellows gas meters (household, industrial), including smart class solutions (with remote reading function)
- Remote reading services, a system enabling stopping and resuming gas supply via the GSM network
- Apator Powogaz (Jaryszki)
- Apator Powogaz (Jaryszki)
- Apator Metra (Czech Republic)
- Apator Miitors (Denmark)
-
Mechanical water meters (residential, household, industrial) - including smart class solutions
(with remote reading function) - Ultrasonic water meters
- Heat meter and heat cost allocators
- Remote reading
and utility billing services, systems supporting network infrastructure management
Main customers
Main markets
Volume of sales in H1 2023
Share of exports in segment revenues in H1 2023
Control and
OTUS 3 supervision systems
meterSmartARS pro disconnector
- distribution system operators (DSO)
-
electricity grid wholesalers, electric assembly
and wiring installation companies - construction, industry and railway companies
- photovoltaic and wind farms, energy clusters and cooperatives, other RES sector entities
Poland, Germany, Romania, Brazil,
Israel, South Africa
PLN 233,0 million
25,6%
iSMART 2 gas
meter
hybridSMART
- gas companies/gas distributors and suppliers
Poland, Great Britain, Belgium, Turkey,
Germany
PLN 133,2 million
72.0%
ULTRIMIS W
water meter JS Smart E-ITN
- allocator
- water, sewerage
and heating companies
- housing cooperatives
- construction
-
industry
Poland, Czechia, Spain, Romania,
France, Germany
PLN 197,9 million
57.7%
Entity name: | Apator Group | ||
Period covered by the financial statement: | 01.01.2023 - 30.06.2023 | Reporting currency: | Polish zloty (PLN) |
Rounding level: | all amounts are expressed in thousands of PLN (unless stated otherwise) |
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Disclaimer
Apator SA published this content on 05 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2023 10:09:19 UTC.
