Top news from Polish politics, economy, business & financial markets - 17:00
Following is a digest of the day's top news as compiled by PAP Market Insider.
BUSINESS & EQUITY MARKET NEWS
LOGISTICS, SHIPPING / INPOST, YODEL - Amsterdam-listed parcel locker operator InPost is acquiring Yodel, one of the largest delivery services companies in the UK. The deal will make it the third largest independent logistics player in the country. The value of the transaction was not disclosed.
COAL MINING / BOGDANKA - Listed coal mining group Bogdanka assumes that the average level of coal production will be about 8.2 million tonnes per year in 2025-2030 and about 6.6 million tonnes in 2031-2035. The group will aim to achieve an EBITDA margin ratio of 26 percent on average in 2025-30 and 28.7 percent in 2031-35, Bogdanka said in a press release on its new strategy. The optimisation measures are expected to improve cash cost of production and EBITDA per tonne, despite declining mining volumes.
EU LOANS, INVESTMENTS - The European Bank for Reconstruction and Development has already invested EUR 500 million in Poland this year, including three equity investments and two loans for listed footwear and clothing group CCC, regional director of the bank Andreea Moraru told PAP Biznes. EBRD sees the gap in access to capital in Poland, mainly due to geopolitical risk, and stands ready to increase its engagement if necessary.
BANKING - The updated roadmap for the reform of benchmark indices is realistic, and from 2027, all new financial products requiring a benchmark are to be based entirely on the new POLSTR benchmark, which is to ultimately replace WIBOR, the head of Polish banking lobby ZBP Tadeusz Bialek told an interview with PAP Biznes.
REAL ESTATE, OFFICES / CAVATINA - Listed office space developer Cavatina Holding's consolidated net profit in 2024 fell to PLN 10.8 million (EUR 2.5 mln) from PLN 90.5 million (EUR 21.2 mln) a year earlier, while operating profit fell to PLN 93 million (EUR 21.7 mln) from PLN 142.3 million (EUR 33.8 mln), the company said in a press release.
TRAVEL, LEISURE / RAINBOW TOURS - Listed travel agency Rainbow Tours' management board recommends that a total of PLN 145.5-174.6 million (EUR 33.8-40.6 mln) from the company's profit for 2024 financial year is allocated to the payment of dividends, which translates into a dividend of PLN 10-12 (EUR 2.32-2.79) per share, Rainbow Tours said in a market filing.
GAMING / HUUUGE - Listed video games developer Huuuge posted an adjusted EBITDA of USD 24.8 million in the fourth quarter of 2024, down by 4.9 percent year on year, while beating the consensus for USD 22.1 million. Huuuge takes a selective approach to acquisitions and assesses that share buyback programmes are not currently a priority.
REAL ESTATE, OFFICES / CAVATINA - Listed office space developer Cavatina Holding has established an ordinary bearer bond issue programme of up to PLN 200 million (EUR 46.6 mln), the company said in a market filing.
MUTUAL FUNDS, BROKERAGES / SKARBIEC HOLDING, NOBLE SECURITIES - The mutual funds and investment management group Skarbiec Holding has acquired 100 percent of shares in brokerage Noble Securities, Skarbiec said in a press release. The transaction was worth approximately PLN 31.3 million (EUR 7.3 mln).
LOGISTICS, SHIPPING / INPOST - Amsterdam-listed parcel locker operator InPost does not rule out further acquisitions in the UK, will look at all possible investment opportunities, InPost's CEO Rafal Brzoska said. He added that the German market could be an attractive target in the future but noted that there are currently no such plans.
CONSTRUCTION / ZUE - Listed construction group ZUE management board recommends allocating 2024 net profit of approximately PLN 10.26 million (EUR 2.4 mln) in full to reserve capital, the company said in a market filing.
BIOTECH / POLTREG - Listed biotech company Poltreg posted PLN 4.5 million (EUR 1 mln) of attributable net loss in the fourth quarter of 2024, according to PAP Biznes calculations based on firm's annual report.
SPACETECH / CREOTECH INSTRUMENTS - Listed spacetech company Creotech Instruments has started the process of demerging the company by spinning off the quantum systems segment into a new company, Creotech Instruments said in a press release. The quantum company is expected to go public on the WSE, and the estimated date for concluding the spinoff is late 2025/early 2026.
GAMING / BLOOBER TEAM - Listed video games developer Bloober Team has unveiled the first full trailer for the survival horror game 'Cronos: The New Dawn', the company announced in a press release.
SOCIAL INSURANCE, PENSION FUNDS / ZUS, OFE - Poland's social insurer ZUS has transferred PLN 70.8 million (EUR 16.45 mln) to private pension funds OFE this week, ZUS reported.
FINANCIAL MARKETS
FX - The Polish zloty strengthened at 4.282 against the euro on Thursday at 16:50 local time.
ECONOMIC & FINANCIAL NEWS
GDP GROWTH - Poland's Gross Domestic Product grew by 3.4 percent year on year in the fourth quarter of 2024, against 3.2 percent estimated earlier, the stats office GUS reported. In the third quarter of 2024, Poland's GDP rose by 2.8 percent against earlier estimates of 2.7 percent.
INTEREST RATES - July is a safe moment to cut interest rates, Poland's Monetary Policy Council member Ireneusz Dabrowski assessed in an interview with Reuters. However, as he pointed out, the decision on cut may come earlier, as the MPC's inclination to loosen monetary policy has increased recently.
LOANS, BANKING - Poland's borrower support fund FWK recorded PLN 1,106.61 million (EUR 257.2 mln) at the end of March 2025, Poland's state development bank BGK said in a statement.
POLITICAL & GOVERNMENT NEWS
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