/ / / Selena Group: good results in the first quarter of 2021

Selena Group: good results in the first quarter of 2021

Jacek Michalak prezes zarzadu Grupy Selena

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Selena Group – one of the leading manufacturers and distributors of construction chemicals and the owner of the TYTAN PROFESSIONAL brand – recorded revenues of PLN 349.5m in the first quarter of 2021. This is an increase of 23.6% in relation to the same period last year. There was also a significant increase in net profit, which reached PLN 17.5 million, recording a year-on-year increase of 235%, and operating profit EBIT, which amounted to PLN 19.8 million and is 116.1% higher than in the first quarter of 2020.

Revenue growth in the first quarter of 2021 was significantly influenced by organic sales growth in all segments. The key market in this respect remains the European Union, which accounted for 68% of Selena Group’s sales revenue in the first quarter (compared to 67% in the corresponding period of 2020). The region of North and South America also gained, accounting for 8% of revenues, with a 1pp increase year-on-year.

– After several months of pandemic, we can say that we used this time well. The results were supported by the good situation in the construction market, which contributed to significantly higher demand for construction materials than in previous years. The sustained demand made it possible to offset the lower margins caused by the very dynamic growth in the prices of raw materials,” emphasises Jacek Michalak, President of the Management Board of Selena Group. “Importantly, thanks to the operating procedures we have developed, we have not experienced any major disruptions in the supply of raw materials and production materials that would have resulted from the effects of the pandemic. On a global scale, Selena Group was also helped by the stabilisation of exchange rates, especially in developing countries,” concluded Michalak.

In the first quarter of 2021, Selena Group launched the first ever system solution for professionals in foreign markets – the Tytan WINS insulation and sealing standard for windows, based on liquid foils, which increases the energy efficiency of buildings and speeds up construction work.

An important area of development is the area of sustainable construction, including the Green Deal issues. Selena Group conducts research and development work on environmentally friendly products. The company’s policy is a response to market signals and legislative changes in chemical regulations, which set directions for the search for new raw materials, innovative products and new applications.

In the first quarter of 2021, Selena Group recorded a 23.6% increase in revenue from contracts with customers compared to the same period last year. The company points out that the impact of the pandemic on the Group’s business in the coming years will depend on the macroeconomic effects in Poland and the global markets. The Group comprises 35 companies in 18 countries. Selena’s production plants are located in Poland, Brazil, South Korea, China, Romania, Turkey, Spain and Kazakhstan. The Group’s brand portfolio includes top brands such as Tytan Professional, Quilosa, Artelit, COOL-R, which are appreciated by customers in 100 markets worldwide.

Source: Selena Group

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