Selena: revenues top PLN 650m in 2009

2010-03-04

The Selena group, a manufacturer and distributor of construction chemicals, reported sales revenues of PLN 651.1m (€165.7m) last year, which represents an improvement of 23% compared with 12 months previously. It posted a gross profit of PLN 233.5m (€59.4m), and a net profit of PLN 4.7m (€1.2m).
Last year's impressive performance was a consequence of the company's strategy of acquiring companies from the same branch and focusing on pursuing organic development. In spite of the unfavourable global economic climate, Selena managed to achieved its goals last year – the group managed to incorporate a number of new businesses (the Spanish-based firm Quilosa and Kvadro from Russia) and strengthen its distribution network.
In 2010 Selena intends to continue with its strategy of geographical expansion. A major target market will be China, where it is currently expanding its sales network. Towards the end of 2010 the firm will start up a plant producing adhesives and foams in the Nantong economic zone. Also high on Selena's agenda this year is continued integration of Quilosa, while on the Polish market it will take steps aimed at acquiring Przedsiebiorstwo Materialow Izolacyjnych Izolacja-Matizol. Selena is currently awaiting approval from the Office of Competition and Consumer Protection (UOKiK).