Polish IT distributor AB Group has closed its latest financial year with solid growth, reporting a net profit of over PLN 142m (about $31.2 million) and over PLN 13bn in revenue for 2021, its best fiscal Q4 in the company’s history.
For the first time, the AB Group from Lower Silesia recorded more than PLN 200 in annual EBITDA in 2021.
In the second quarter of the financial year, October-December 2021, the AB Group recorded revenues of PLN 4.4bn, which translated into a 28% year-on-year increase in EBITDA to almost PLN 90m and a 24% year-on-year increase in net profit to over PLN 65m.
At the end of December 2021, the AB Group’s equity value approached PLN 1.1bn and despite the disruption on the supply side, the firm maintained a safe stock value of PLN 1.3bn.
“The financial results achieved exceeded our internal targets and we are pleased, especially as we improved in comparison with the record results we had a year ago,” said Andrzej Przybyło (pictured), CEO of AB S.A. “Bear in mind that in the fourth quarter of 2020, we increased revenue by more than 30% year-on-year and virtually doubled our net profit. As a result, we had a record calendar year, in which we grew stronger than the market, which is a good base for the further long-term development of the AB Group.”
