Estimated results of LUG S.A. Capital Group for III quarter 2018
07 November 2018
LUG S.A., a leading producer of system solutions in the field of professional lighting technology, published the estimated results for the third quarter of 2018. In the third quarter of 2018 revenues amounted to PLN 42.94 million and compared to the third quarter of 2017, they increased by 9.4 percent. Gross profit was PLN 20.21 million, an increase of 11 percent. y / y. Net profit amounted to PLN 2.44 million. After nine months of 2018, revenues from sales amount to PLN 119.60 million. Net profit after three quarters exceeded PLN 5.01 million.
In the third quarter of 2018, LUG S.A. generated a gross profit on sales in the amount of PLN 20.21 million. The dynamics of gross profit for three quarters reached the level of 20.8 per cent, closing with the amount of PLN 51.92 million. The gross margin on sales also improved, which in the third quarter was 47.1%. (0.7 pp more than last year). The third quarter of the year also brought an increase in sales revenues of PLN 42.94 million. In the incremental approach, calculated from the beginning of the year, sales revenues reached the level of PLN 119.60 million with the dynamics of +16.1%.
A similar tendency was noted by the company at the level of operating profit, which in the third quarter increased by 54.4%, to the level of PLN 2.66 million, and for three quarters amounted to PLN 5.36 million (+ 51.1% y/y) . In the third quarter of 2018, net profit increased by 15.1 percent. compared to the third quarter of 2017, thus reaching the level of nearly PLN 2.44 million. Cumulatively, the net profit for the first 9 months of 2018 showed an increase of 17.6%, to the level of 5.01 million PLN.
- Another quarter of good work is behind us, expressed by positive indicators on the level of revenues and profitability of projects. Thus, we continue the trend in which our financial results have been growing steadily for several quarters - comments Ryszard Wtorkowski, President of the Management Board of LUG S.A. - My satisfaction is even greater because we already notice some negative symptoms in the construction and related industries, which also affect our projects - emphasizes Ryszard Wtorkowski.
It is worth emphasizing that this is another improvement in the indicators that followed the record financial results in previous reporting periods of this year. Both the results of the third quarter itself and cumulatively the results developed in three quarters of 2018 are characterized by positive dynamics in relation to the corresponding periods of previous years.
- The end of the year is usually the time of closing projects and good financial results. This is that time. After many months of work, we completed the construction of the plant and assembly of production lines in a factory in Argentina. We have already started production and we can implement subsequent parts of the contract signed with the authorities of the Misiones Province - said Ryszard Wtorkowski, President of the Management Board of LUG S.A.
The presented values are estimates and may change. Consolidated report of the LUG Capital Group S.A. for the third quarter of 2018 will be published on November 14, 2018.