Amica white goods estimates up to PLN 10 mln savings due to restructuring programme

"We are talking about amounts of up to PLN 10 million, (...) we have to take appropriate measures, it is no secret that the decline in sales over the last three years is large," Amica's deputy CEO Michal Rakowski said when asked about the estimated savings over 12 months due to the restructuring programme and redundancies.

"In 2021, we were achieving more than PLN 3.5 billion turnover, today we estimate that this level will be around PLN 2.5 billion. We have to react to the situation and cost savings have to be organised," he added.

The collective redundancies involved 39 employees of the company.

"We do not assume further layoffs," Rakowski said.

The Amica group maintains the assumption presented in its new strategy, expecting sales growth of 3 percent in 2027, with an expected EBITDA profitability of 5 percent. The company also aims to increase RONA (return on net assets) to 14 percent in 2027.

"In the next three years, we want to focus on rebuilding, reorganising our structures so that we achieve more satisfactory values after 2027," Rakowski said.

From 2030 onwards, Amica aims to achieve sales growth of more than 7 percent, expects EBITDA profitability of 7 percent and a RONA of more than 17 percent.

The representatives added that the company aims to keep the net debt to EBITDA ratio below 2 and to increase the gross margin on product sales to 25 percent in 2027 and to 28 percent in 2030 and onwards.

"The last element we are communicating, we want to continue our dividend policy," Rakowski indicated.

As stated in the press release, the Amica group recorded sales revenue of PLN 1.9 billion (EUR 438.5 mln) in the first nine months of 2024, down 11 percent year on year, reflecting a decline in demand for white goods in Europe.

The company reported that appliance sales revenues in Poland amounted to PLN 566 million (EUR 130.6 mln), up by 9 percent year on year.

gaw/ nl/ ao/