According to the drafted consolidated financial statement, Klima-Therm Group closed the 2019 accounting year with revenues exceeding PLN 441 million, which is another record-breaking result measured with positive 23% dynamics. The generated turnover with twice as high net profit dynamics has significantly contributed to Klima-Therm Group’s commitment as an economic entity towards the State Treasury.

In the financial statement for 2019, Klima-Therm Group reported, among others, a turnover of PLN 441,693,447 and a year-on-year increase in sales of 23%. Net profit amounted to PLN 26.4 million and was 131% higher than in 2018. The company’s operating profit, as measured by EBIT/EBITDA, has almost doubled. The balance of cash flows from the company’s operating activities in 2019 was positive, with value growth of more than 40%.

Such sound financial condition of Klima-Therm Group in 2019 is reflected in its growing commitment as an economic entity towards the State Treasury. In government levies alone, the company paid PLN 53.3 million to the state budget, including PLN 37.5 million in CIT, VAT and PIT taxes, and PLN 15.8 million in social security contributions. In comparison to 2018, the value of the payments made by Klima-Therm Group to the state tax revenue was higher by 102%, and the value of social security contributions increased by 29%.

According to Poland’s Ministry of Finance, in the period from January to December 2019, the domestic state budget revenues amounted to PLN 400.6 billion and were higher by PLN 20.5 billion when compared to the same period last year. Tax revenues were higher by about PLN 18 billion, which gives the average increase of CIT/VAT/PIT revenues at 9.6%. On account of social security contributions, entrepreneurs paid on average 9.3% more into the budget than in the previous year.

Klima-Therm Group’s detailed financial data for the 2019 accounting year, derived from the consolidated financial statement drafted on 23 April 2020, as well as a number of other information and business indicators illustrating the nature and the scale of operations of all companies belonging to the Group, will soon be published in the “Annual Report 2019 & Company Profile”.

Klima-Therm Group is a company with exclusively Polish capital. It is made up of six affiliated enterprises active in Poland and abroad, which currently employ more than 500 full-time employees. The organization’s competitive advantage is a business model which combines production – carried out in the company’s own three manufacturing plants located in the Pomeranian Province – and distribution of superior air conditioning, ventilation and heating units. The company’s solutions have a wide range of applications in commercial and industrial facilities, as well as in buildings belonging to public institutions. The company’s database of corporate clients currently comprises as many as 2,000 active buyers.

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Source:
- Details on government levies: own information of KLIMA-THERM Sp. z o.o.;
- Financial results: Consolidated financial statements of Klima-Therm Sp. z o.o. Capital Group for the accounting year from 1 January to 31 December 2019 (23.04.2020), Report by an independent statutory auditor from PricewaterhouseCoopers Polska sp. z o.o. Audyt sp.k. (23.04.2020);
- Data of the Ministry of Finance: Estimated state budget implementation in the period from January to December 2019; www.gov.pl (17.02.2020).</sup>