The document presents financial data and prospects for ES-SYSTEM Capital Group for 2017. Key points include:
- Revenues increased 4.2% to 189.7 million PLN in 2017, with net profit up 113.5% to 7 million PLN.
- Domestic sales grew 1.5% while export sales increased 14.9% driven by growth in European and Asian markets.
- EBIT doubled to 7.7 million PLN and EBITDA margins improved.
- Management expects further domestic and export growth in 2018, supported by a growing order book and planned new product introductions.
Volvemos para presentar la edición 2017 de Conexus, la publicación anual que analiza el estado actual de los últimos desarrollos en Industrial Connectivity.
Volvemos para presentar la edición 2017 de Conexus, la publicación anual que analiza el estado actual de los últimos desarrollos en Industrial Connectivity.
Denisa Čiderová: The Era of Science Diplomacy: Implications for Economics, B...CUBCCE Conference
The London-based Royal Society publishing the world’s oldest scientific journal in continuous publication Philosophical Transactions of the Royal Society (since 1665) identified science diplomacy as still a fluid concept that can be applied to the role of science, technology and innovation in three dimensions of policy: Science in diplomacy; Diplomacy for science; Science for diplomacy. In June 2015 the European Commissioner for Research, Science and Innovation Carlos Moedas reiterated the Royal Society’s dimensions of science diplomacy in his speech The EU approach to science diplomacy at the European Institute in Washington.
Terms “diplomacy”, “science” and “art” are marked by variability of interpretations, with the French painter G. Braque pointing at one of possible links between science and art: « L’Art est fait pour trabler, la Science rassure. » (Notebooks: Day and Night, 1952 quoted in PODOLAN, 2014, p. 745); pivotal shift in the perception (of the complexity) of diplomacy is accentuated by editors of The Oxford Handbook of Modern Diplomacy (2013), too.
The University of Economics in Bratislava operating in the European Higher Education Area and the European Research Area celebrated 75th anniversary of its establishment in 2015, in the framework of which the International Scientific Conference for Doctoral Students and Post-Doctoral Scholars EDAMBA 2015 titled “The Era of Science Diplomacy: Implications for Economics, Business, Management and Related Disciplines“ was held on 21 – 23 October 2015 in cooperation with the Business Leaders Forum.
Latvijas Bankas "Monthly Newsletter", 10/2016Latvijas Banka
"Highlights":
* Substantial increase in high technology sectors
* Inflation is rising, but to a large extent owing to last year's developments
* External trade in August testifies to the power of Latvian cereal exports
"In Focus":
* #reformasLV or why Latvijas Banka cares about education and healthcare?, autors: Oļegs Krasnopjorovs
Agencia de Desarrollo Wroclaw Agglomeration para INVATEfundacioninvate
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Denisa Čiderová: The Era of Science Diplomacy: Implications for Economics, B...CUBCCE Conference
The London-based Royal Society publishing the world’s oldest scientific journal in continuous publication Philosophical Transactions of the Royal Society (since 1665) identified science diplomacy as still a fluid concept that can be applied to the role of science, technology and innovation in three dimensions of policy: Science in diplomacy; Diplomacy for science; Science for diplomacy. In June 2015 the European Commissioner for Research, Science and Innovation Carlos Moedas reiterated the Royal Society’s dimensions of science diplomacy in his speech The EU approach to science diplomacy at the European Institute in Washington.
Terms “diplomacy”, “science” and “art” are marked by variability of interpretations, with the French painter G. Braque pointing at one of possible links between science and art: « L’Art est fait pour trabler, la Science rassure. » (Notebooks: Day and Night, 1952 quoted in PODOLAN, 2014, p. 745); pivotal shift in the perception (of the complexity) of diplomacy is accentuated by editors of The Oxford Handbook of Modern Diplomacy (2013), too.
The University of Economics in Bratislava operating in the European Higher Education Area and the European Research Area celebrated 75th anniversary of its establishment in 2015, in the framework of which the International Scientific Conference for Doctoral Students and Post-Doctoral Scholars EDAMBA 2015 titled “The Era of Science Diplomacy: Implications for Economics, Business, Management and Related Disciplines“ was held on 21 – 23 October 2015 in cooperation with the Business Leaders Forum.
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"Highlights":
* Substantial increase in high technology sectors
* Inflation is rising, but to a large extent owing to last year's developments
* External trade in August testifies to the power of Latvian cereal exports
"In Focus":
* #reformasLV or why Latvijas Banka cares about education and healthcare?, autors: Oļegs Krasnopjorovs
Agencia de Desarrollo Wroclaw Agglomeration para INVATEfundacioninvate
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
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3. Economic trend on the domestic construction market
www.essystem.pl 3
The dynamics of the construction and assembly market in 2017 was 12.1% higher y/y (in comparison with a decrease
by 14.1% in the same period of 2016)
despite of the increases on the domestic construction market the decreases were denoted in the main segments
of the Group’s activities:
industrial buildings – a decrease by 11.9% y/y
retail and service facilities – a decrease by 6.4% y/y
office buildings – a decrease by 28.4% y/y
The dynamics of the construction and assembly market (y/y) 2015-2017 (in %)
4. The ES-SYSTEM Capital Group’s financial data for the year
2017
www.essystem.pl 4
PRZYCHODY NETTO
ZYSK NETTO
EBIT
ŚRODKI PIENIĘŻNE
EBITDA
189.7 million PLN – an increase by 4.2% y/y
In comparison with 182.1 million PLN in 2016
7 million PLN – an increase by 113.5% y/y
In comparison with 3.3 million PLN in 2016
7.7 million PLN – an increase by 116.9% y/y
In comparison with 3.5 million PLN in 2016
16.7 million PLN – an increase by 39.5% y/y
In comparison with 12 million PLN in 2016
Cash and cash equivalents at the end of the period:
22.5 million PLN
In comparison with 18.6 million PLN in 2016
NET REVENUES
5. Increase of the Capital Group’s revenues from sales
www.essystem.pl 5
Cumulatively in 2017, the Group achieved revenues of 189.7 million PLN, which is an increase by 4.2% y/y
domestic sales – 148.1 million PLN (an increase by 1.5% y/y)
export sales – 41.6 million PLN (an increase by 14.9% y/y)
The margin on total sales in 2017 amounted to 37.8% and was 0.8 p.p. higher than in the corresponding period of 2016
The value of LED technology solution sales in 2017 amounted to 72.1% of total revenues from sales (versus 62.3%
in 2016)
Sales of LED solutions increased by 22% y/y
The gross profit on sales in 2017 amounted to 71.8 million PLN and was 4.5 million PLN higher – 6.6% y/y
+
1.1%
+
20.5%
-
2%
-
1.3%
Q1 2016/2017 Q2 2016/2017 Q3 2016/2017 Q4 2016/2017
6. An increase in domestic sales
www.essystem.pl 6
In the 4th quarter of 2017, the Group’s sales on the domestic market reached the level of 43.2 million PLN, which was
a decrease by 3.2% y/y
the result of projects being delayed to 2018 and a high comparative base
An increase of sales by 1.5% y/y, reaching 148.1 million PLN in 2017
Sales in key market segments:
The share of wholesale in the 4th quarter of 2017 amounted 41% of the total sales in the country and is at 2.6 p.p. lower y/y.
Cumulatively, the share of wholesales customers amounted 36% – 53.3 million PLN, a decrease by 8%.
the result of concentration on the investment/design market
Sales of luminaires with LED technology in Q4 of 2017 constituted 79% of the total sales on the domestic market,
in comparison with 62% in Q4 of 2016.
Cumulatively, the Group denoted in 2017 an increase in the share of LED products in its domestic sales to 72.2%, from 59.3%
in the corresponding period of 2016 – an increase by 23.4% y/y
Q4 2017 2017
Architectural lighting
-14% y/y 0.2% y/y
Outdoor lighting -3.8% y/y 8.1% y/y
Industrial lighting 19.1% y/y 5.5% y/y
Emergency lighting -3.4% y/y -0.5% y/y
Lighting control equipment 0.6% y/y 23.9% y/y
7. Increase of export sales in the markets of the European
Union, Asia and the Near East
www.essystem.pl 7
25,3
4,8 4,9
1,2
28,2
7,3
5,1
1,0
Obszar Unii
Europejskiej
Azja i Bliski Wschód Pozostałe kraje
Europy
Ameryka
Południowa,
Ameryka Północna,
Afryka, Australia i
Oceania oraz Daleki
Wschód
2016
2017
In the 4th quarter of 2017, the Group’s export sales amounted to 10.5 million PLN, which was an increase
by 7.7% y/y
Cumulatively, export sales amounted to 41.6 million PLN – an increase by 14.9% y/y
Export sales for 2017 accounted for 21.9% of the Group’s total sales – an increase by 2.1 p.p.
Main export markets:
Strengthening the position in European Union – cumulatively, an increase by 12% y/y
The largest cumulative percentage increases denoted in sales to Asia and the Near East – an increase to 7.3 million PLN
- 52% y/y
The share of LED product sales in Q4 2017 amounted 67.7% in comparison with 75.6% in Q4 2016
Cumulatively, the Group denoted a decrease of the share of LED product export sales to 71.6% from 74.7% in 2016
By value, in 2017 LED product sales was higher by 16% y/y
Sales in the key segments:
4Q 2017 2017
Architectural lighting -13.6% y/y 14,9% y/y
Outdoor lighting -4.3% y/y -18,1% y/y
Industrial lighting -4% y/y 11,5% y/y
Emergency lighting 33.5% y/y 10% y/y
Lighting control equipment 81.2% y/y 1135% y/y
8. www.essystem.pl 8
EBIT – doubled profit and improved margins
Cumulatively, after Q4 of 2017, the Group’s operational profit amounted to 7.7 million PLN – an increase by 116.9% y/y
the EBIT margin amounted to 4% at the end of 2017, in comparison with 1.9% in 2016
Cumulatively the operational profit increased by 7.4% to 65.3 million PLN
employee salary and benefit costs and commercial commission costs at ES-SYSTEM S.A. – an increase to 60.3 million PLN, i.e. 7.7% y/y
costs of external services – an increase to 17.6 million PLN (by 0.5 million PLN y/y)
The result on other operating activities in 2017 cumulatively amounted to 1.1 million PLN compared to the loss of 3.1 million PLN
in 2016
creating 2.6 million PLN less in provisions for receivables
releasing provisions for receivables at ES-SYSTEM S.A. and releasing actuarial reserves at ES-SYSTEM Wilkasy
The loss on financial activity amounted to 0.4 million PLN (0.7 million PLN lower in comparison with 2016) – the effect
of negative exchange rates
+
152%
+
1003.8%
-
78.6%
+
18.9%
Q1 2016/2017 Q2 2016/2017 Q3 2016/2017 Q4 2016/2017
9. www.essystem.pl 9
A sharp rise in net profit
Cumulatively, the Group recorded a net profit in the amount of 7 million PLN in 2017 compared to 3.3 million PLN
in 2016 (an increase by 113.5% y/y)
Net profit profitability amounted to 3.7% compared to 1.8% in the same period of 2016
+
254. %
+
1260.1 %
-
52.1 %
+
12 %
Q1 2016/2017 Q2 2016/2017 Q3 2016/2017 Q4 2016/2017
10. www.essystem.pl 10
Based on the results from Q4 2017, the prospects in the industry and the amount of orders on the domestic market, which
was 18% higher y/y, Q1 2018 should bring an improvement in domestic sales
On the domestic market, the Company plans to introduce new office, exhibition, hotel/apartment lighting systems in the architectural
lighting segment
In the industrial lighting segment, ES-SYSTEM plans to introduce new optical systems and LED modules
In the lighting control segment, the Company will begin smart lighting production and sales, the conceptual and implementation work for
which had been initiated in 2017
The Company began this year with a 9% y/y order portfolio, which makes a lower sales result in Q1 2018 likely in
comparison to the corresponding period in 2017
At the same time, the number of projects under development on different markets is growing, which bodes well for sales
throughout 2018, which may close with a larger value than in 2017
Thanks to the activities of ES-SYSTEM UK Ltd., the first major projects in Great Britain are expected to be completed soon. In
2018, Management plans further sales growth on the existing export markets
Strengthening the Company’s position on foreign markets will be implemented based on the development of business contacts and the
sales representative network, as well as through participation in selected industry events
Investment expenditures planned for 2017 in the amount of 9 million PLN have been carried out
The CAPEX for 2018 is assumed at a comparative level to the previous year
Prospects for further growth in 2018
11. www.essystem.pl 11
Domestic projects:
Metropolia shopping mall – Gdansk
Office buildings PWC IBC, Equator, Wronia – Warsaw
Integrated Communication Center – Bialystok
Paged S.A. production halls – Pisz
Animex factory – Morliny
Winkelmann production halls – Legnica
Whirpool production facility – Wroclaw
OBI logistics center – Łódź
ENA, mBank i CERI office buildings – Łódź
MALTA Office Park – Poznan
Adam Mickiewicz University – Poznan
Medical Simulation Center (1st stage) and Zembala
Collegium – Poznan
Radwag office and production building – Radom
Żywiec brewery
Hebe store chain
YS Poland factory – Zabrze
Bogdanka mine, mining lighting – Łęczna
The U. Ledóchowska high school – Warsaw
HANKA dormitory – Poznan
Center of Culture Heritage – Pruszkow
Examples of completed projects
Export projects:
Europa Passage shopping mall – Hamburg, Germany
CI Tower office building – London, Great Britain
Canadian Embassy – Paris, France
Sports center – Liepāja, Latvia
Allianz Operasyon Merkezi – Izmir, Turkey
Equestrian Arena tennis courts – Athens, Greece
Health Care Centers, continuation – Nikšić, Andrijevica, Kolašin,
Montenegro
Frottana warehouse hall – Varnsdorf, Czech Republic
Gestamp production hall – Žatec, Czech Republic
UPOL Faculty of Physical Culture – Olomouc, Czech Republic
12. www.essystem.pl 12
ES-SYSTEM among the elite at LIGHT + BUILDING 2018
exhibitors as the only company from Poland
ES-SYSTEM took part in Light + Building – the largest international
lighting and construction fair (18th-23th March, 2018) in Frankfurt,
Germany
During the fair, ES-SYSTEM presented:
Products equipped with CIRCADIAN technology, in accordance with
the idea of Human Centric Lighting
Intelligent Lighting Control Systems for active lighting management
The Light + Building fair gathers the largest international companies in
the lighting industry.
Participation in the fair should translate into the company’s further
dynamic growth on foreign markets.
13. www.essystem.pl 13
ES-SYSTEM LIGHTING UK LTD
Foreign expansion is an important element for ES-SYSTEM’s development
On 11th April, 2017, ES-SYSTEM S.A. registered the subsidiary ES-SYSTEM LIGHTING UK LTD with its
seat in Harrow, London
The company operates in the field of sales representation with the intention acquire customers from
the British market
Thanks to the activities of ES-SYSTEM UK Ltd., the first major projects are expected
to be completed in Great Britain.