2. ES-SYSTEM Capital Group – the most important financial data as for
30.09.2011
NET REVENUES from sales: PLN 120 112 k – increase by 5.50% yoy
NET PROFIT: PLN 9 186 k – increase by 28.98% yoy
EBIT: PLN 10 794 k – increase by 31.28% yoy
Return on operational activities: 8.99%, in comparison with 7.22% in the same period
of the previous year
ES-SYSTEMLIGHT IMPRESSIONS
of the previous year
Return on net sales: 7.65%, in comparison with 6.26% in the same period of the
previous year
Status of CASH at the end of the period: PLN 11 916 k
2222
3. Situation on the construction market in Q1-Q3 of 2011
-15,7
-24,6
-10,2
-6,1
2,3
9,6 0,8
8,5
13,4
9,4
14,2 12,3
11,2
23 24,2
15,6
23,9
17 16,4 18,5 18,1
I II III IV V VI VII VIII IX X XI XII
Changes in a construction-assembly production (yoy), 2010-2011 (in %)
2010 2011
ES-SYSTEMLIGHT IMPRESSIONS
Increase of the construction-assembly production in three quarters by 18.2% yoy
Mainly on the civil engineering market (+30.1% yoy) and specialist works companies
(+28.4% yoy)
Within the main area of ES-SYSTEM operations – a market of construction companies –
increase by 4.4%
3333
4. 29 571
38 866
45 409 48 457
33 776 36 462
49 874
10 000
20 000
30 000
40 000
50 000
60 000
ES-SYSTEM – the Capital Group’s quarterly revenues from sales
ES-SYSTEMLIGHT IMPRESSIONS
0
IQ10 IIQ10 IIIQ10 IVQ10 IQ11 IIQ11 IIIQ11
Sales in Q3 – increase by 9.83% yoy.
Increase of domestic sales by 8.8% yoy, increase of export sales by 13.28%
Margin in % from total sales after three quarters on the same level yoy
4444
5. ES-SYSTEM GK – sales results in key market segments
ARCHITECTURAL LUMINAIRES:
In Q3 constituted 50% of the turnover volume
Increase of a revenues level in Q3 by more than 20% yoy
Cumulatively at the end of September the Group’s sale increased by 11% yoy
INDUSTRIAL LUMINAIRES:
Constituted 19% of sales structure
In Q3 increase by 9% yoy
Cumulatively at the end of September Group’s sales increased by 8% yoy
ES-SYSTEMLIGHT IMPRESSIONS
EXTERNAL LUMINAIRES:
Amounted to 19% of sales structure in Q3
In Q3 decrease by 15%
Cumulatively at the end of September the Group’s sales decreased by 17% yoy (as a
consequence of the amendment to the Public Finance Act and the Regulation of the Finance
Minister from 23.12.2010 on an allowable debt level for communities caused delays in investment
decisions made by community governments)
EMERGENCY LUMINAIRES:
The Company obtained the first admittance certificate and awaits next ones for which the
procedure will be finished by the turn of the year
A record level of emergency lighting sales in September
5555
6. ES-SYSTEM Capital Group – significant events and factors which
influenced Q3 financial result
POLAND
Expectations of construction companies in regards to worsening of the economic
activity in the sector, market dynamics in the electro-technical sector are
decreasing and currently are recorded increases below 5%
Sustained price pressure influencing sales margin decrease in the branch
Revival visible still only in infrastructural investments (financed from the EU funds)
Positive effect of following investment areas at the growth stage or those that
have financial warrantees (e.g. architectural lighting connected with sports and
ES-SYSTEMLIGHT IMPRESSIONS
have financial warrantees (e.g. architectural lighting connected with sports and
recreation objects)
ABROAD
Concentration on markets with high investment activity
Continuation of wholesale development
6666
7. ES-SYSTEM – export sale
ES-SYSTEMLIGHT IMPRESSIONS
Increase of the export sale in Q3 2011 by almost PLN 3 m to a level PLN 11 832 k in comparison
with Q2 2011
Sales higher by 13% than in Q3 2010
7777
8. ES-SYSTEM – export markets
ES-SYSTEMLIGHT IMPRESSIONS
TOP 10 export markets in three quarters of 2011 in relation to three quarters of 2010
8888
9. 8,46%
10,10%
10,08%
4,13%
17,31%
6,00%
8,00%
10,00%
12,00%
14,00%
16,00%
18,00%
20,00%
2 000
3 000
4 000
5 000
ES-SYSTEM – operating result
ES-SYSTEMLIGHT IMPRESSIONS
348 3 288 4 586 4886 1 394 769 8 631
1,18%
4,13%
2,11%
0,00%
2,00%
4,00%
0
1 000
IQ10 IIQ10 IIIQ10 IVQ10 IQ11 IIQ11 IIIQ11
Increase of operating results of the Group in Q3 yoy by 88.2% to the level PLN 8 631 k
After three quarters of 2011 the operating result increased by 31.28% to the level PLN 10 794 k in
relation to PLN 8 222 k yoy:
Result of higher gross profit with lower rate of sale and general management costs
Influence of a one-time occurrence, that is a remission of obligations of the subsidiary ES-
SYSTEM NT Sp. z o.o. towards the investment’s general contractor
9999
10. 8,92% 7,83% 7,97%
3,19%
15,73%
6,00%
8,00%
10,00%
12,00%
14,00%
16,00%
18,00%
2 000
3 000
4 000
5 000
ES-SYSTEM – net profit
ES-SYSTEMLIGHT IMPRESSIONS
101 3 465 3 556 3862 1 079 263 7 844
0,34%
3,19%
0,72%
0,00%
2,00%
4,00%
0
1 000
IQ10 IIQ10 IIIQ10 IVQ10 IQ11 IIQ11 IIIQ11
10101010
The Group’s net profit in Q3 2011 at a level of PLN 7 844 k – increase by 120.58% yoy
Profit after three quarters of 2011 amounted to PLN 9 186 k and was higher by 28.98% yoy
Cumulative net profitability at a level 7.65% in comparison with 6.26% in 2010
Not considering one-time occurrence the net profit in Q3 amounted to PLN 5.3 m (increase by 51%)
and increasingly PLN 6.7 m (decrease by 5.6%)
11. ES-SYSTEM Capital Group – Q4 2011 prospects
Good financial standing, stable competitive position, high financial security
Domestic sales
Further expansion in outdoor and industrial lighting segments, where the EU funds and
pressure to search for energy saving solutions are supporting factors
Finalization of certification procedure to obtain certificates on admission to sale of emergency
lighting fixtures
Expected sales on export markets
Keeping of increasing tendency
ES-SYSTEMLIGHT IMPRESSIONS
Keeping of increasing tendency
Continuation of big projects in Russia, Bulgaria and Kuwait
Planned invoicing of already completed shopping centers in Szeged (Hungary) and Szczecin
(Poland)
11111111
12. ES-SYSTEM Capital Group – Q4 2011 and 2012 prospects
Despite an unstable situation on world markets the Managements Board hopes to
attain revenues and profit at a level not lower than in 2010 by the end of the year
The Management Board observes weakening dynamics of the construction sector
and does not expect revival in 2012 without clear increase impulses in the global
ES-SYSTEMLIGHT IMPRESSIONS
and does not expect revival in 2012 without clear increase impulses in the global
economy
Concentration on searching for projects in segments and markets with maintained
investment potential
12121212