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Amica SAAmica white goods wants to lower inventory levels and sales costs
Listed white goods producer Amica faced a downturn in the European durable goods market in the first quarter of 2025 but hopes that the following quarters will be more optimistic. In 2025, the group wants to reduce inventory levels and to cut sales costs, including logistics ones, deputy CEO Michal Rakowski told a press conference.
Amica's EBITDA in the first quarter of 2025 fell to PLN 18.4 million (EUR 4.3 mln), while operating profit (EBIT) decreased to PLN 3.1 million (EUR 728,810). The group posted a PLN 6.7 million (EUR 1.6 mln) attributable net loss, against a PLN 3.1 million (EUR 728,810) net profit in the prior year period.
"As far as the costs of sales are concerned, here we can say that there is still room for improvement, to reduce these costs, especially due to the fact that sales revenues were lower by almost 10 percent. Therefore, we will work especially on logistics costs in the second half of the year and in the second quarter to improve this indicator," Rakowski said.
"As the results improve, which we are hoping for later in the year, I think we will move at an effective tax rate similar to last year," he added.
At the end of March 2025, Amica's inventories were worth PLN 548 million (EUR 128.8 mln).
"We will work quite hard this year to reduce this level, especially due to the fact that for the time being we are not achieving [the desired results] - for the time being, because our expectations for the next quarters are more optimistic - in terms of sales performance," Amica's deputy CEO said.
"The current level of inventories in relation to sales performed is, in our opinion, still too high, and this goal of reducing inventories by around 50 million is at the moment one of the priorities in terms of the activities of the entire management board," he added.
The deputy CEO pointed out that the inventory levels adopted by Amica at the beginning of the year were adjusted to the level of last year's sales and to those gentle increases that the management would like to see occur, but the first quarter had verified these assumptions.
Rakowski reported that CAPEX for 2025 should not exceed PLN 45 million (EUR 10.6 mln).
Amica's revenues in the first quarter of 2025 fell by 9.8 percent year on year to PLN 566.9 million (EUR 133.3 mln). The Polish market generated 35 percent of revenues (down 3.7 percent year on year).
seb/ ao/ han/