Warsaw Business Journal (94)

Solaris Center mall extension starts in Opole

Investor NEPI Rockcastle and the municipal authorities of Opole in south-western Poland have launched a public-private partnership project, which will involve the extension and modernization of the Solaris Center shopping center in the downtown of the city. The scheme, which is valued at PLN 100 ...

Tkalnia in Pabianice with four new tenants

Discount store chain Pepco, jewelry store Verona, optician store Medi-Optic and telecom devices retailer GSM 4 TEL have all signed leases in the Tkalnia shopping center in Pabianice. Pepco leased 600 sqm in the mall.

Weco Travel moves to Atrium Garden in Warsaw

Weco Travel, a company specializing in corporate travel, has moved to the Atrium Garden office building on Al. Jana Pawła II in Warsaw. The company is to occupy nearly 1,000 sqm of modern office space on the 7th floor of the scheme. Experts from JLL represented DEKA fund – the ...

Schenker leases 2,100 sqm in Business Garden Warsaw

Vastint Poland signed a lease for 2,100 sqm of office space with Schenker Technology Center , a part of the DB Schenker Group. This newly created unit will provide IT services to the group companies in Europe and in certain parts of Asia and Africa. Business Garden Warsaw was chosen as headq...

PORR-led consortium with PLN 412 mln railway deal

Consortium of PORR Polska Construction and Trakcja System consortium signed a PLN 412 million net deal with railway infrastructure firm PKP PLK for the modernization of the Opole-Kędzierzyn-Koźle section on the E30 route.

RPP member: rates should be hiked as soon as Q1 2018

According to Eugeniusz Gatnar from the Monetary Policy Council interest rates should be increased early next year to offset rising inflationary and wage pressures. “If wage pressures rise in line with my expectations and inflation comes near the target then I would expect interest rates to be ...

PBG with H1 loss

WSE-listed construction firm PBG recorded a PLN 3.83 million consolidated net loss in H1, down from a PLN 828.7 million profit last year. EBIT amounted to PLN 20.9 million, compared with PLN 828.7 million in the corresponding period last year.

Negotiations on the location of the nuclear plant are advanced – Tchórzewski

Negotiations regarding the location of the Poland’s first nuclear power plant with local communities are advanced, according to the Minister of Energy Krzysztof Tchórzewski. “There is a great understanding and I’d like to thank the inhabitants of these communities. There are two ...

BOŚ Q2 profit grows

WSE-listed lender BOŚ reported a consolidated net profit of PLN 23.4 million in Q2, compared with PLN 1.17 million profit last year.

Enterprise Investors sets up a €498 mln fund

Enterprise Investors has completed fundraising for its Polish Enterprise Fund VIII fund with €498 million raised, exceeding the original hard cap of €450 million. The fund will finance mid-market buyouts and growth companies in the CEE region, with at least 50 percent of it to be spent in ...

Torpol signs PLN 173 mln deal with PKP PLK

WSE-listed railway infrastructure builder Torpol signed a net PLN 273.4 million deal for works on the 31 railway line with railway infrastructure firm PKP PLK. The tender concerns route connecting Czeremcha and Hajnówka.

Online shopping on the rise

The number of internet users, who shop online has increased to 54 percent, compared to 50 percent in 2016, according to the “-commerce in Poland 2017 report prepared by Gemius in cooperation with the Chamber of Electronic Commerce .

BGÅ» BNP Paribas CEO resigns

Tomasz Bogus resigned from his post of CEO of BGÅ» BNP Paribas. The resignation will come into effect on 31 October 2017, the lender said. Bogus did not give reasons for his resignation.

Play signs infrastructure deal with UPC

WSE-listed telecom Play signed a deal with cable TV operator UPC on cooperation in providing telecommunication services. According to it, Play will act as an infrastructure operator for UPC, which will launch its own mobile services as a virtual operator .

Dino with 500 mln bond program

WSE-listed retail chain Dino will launch a PLN 500 million secured bonds program, the company said in a market filing.

SKOK should remain being covered by banking sector guarantees - Morawiecki

Poland will keep banking sector guarantees for the troubled credit unions , according to Deputy PM Mateusz Morawiecki. “I would not be in favor of such solutions,” Morawiecki said, adding that the unions are “in good shape.”

Poles work 45 hours per week on average - report

The average Pole works 45 hours a week, according to a study conducted by Kantar Millward Brown pollster. The more money they earn, the more hours they put in, as those with salaries over PLN 3,999 work 50 hours per week, while those self-employed “enjoy” a 55 hour-long working week. Those ...

GetBack H1 profit soars

WSE-listed debt collector GetBack recorded PLN 111.62 million net profit in H1, up by 50.5 percent y/y. EBIT stood at PLN 156 million, a 74.6 percent y/y growth.

Szydło: We should find a compromise on posted workers issue soon

PM Beata Szydło, during her trip to Bulgaria, said that she hopes that a compromise regarding posted workers issue will be reached soon. “Poland has an active and constructive dialogue with the other countries and we are hoping that we will find a compromise,” she said.

GUS: disposable income grows to PLN 1,475 in 2016

Last year, the average disposable income per person increased by 7 percent y/y and amounted to PLN 1,475, Central Statistical Office reported.

Treasury debt inches down in July

The debt of the State Treasury of Poland dropped in July by PLN 5.76 billion , to PLN 939.93 billion, the Ministry of Finance said. Moreover, according to preliminary data, the debt at end-August dropped by another 0.4 percent

Tax revenues up by 15.5% at end-Augist – FinMin

During the first eight months of the year, Polish treasury received PLN 208.89 billion in tax revenue, up by 15.5 percent y/y. This amount represents 69.4 percent of the annual plan, the finance ministry informed. The revenue from VAT increased by 23.5 percent y/y, while the CIT and PIT taxes ...

EY: 107 M&A deals in H1 in Poland

According to EY consultancy, there were 107 merger and acquisition deals in Poland in the first six months of the year. In the CEE and South-Eastern Europe region, there were 473 such deals, down by 27.8 percent less y/y.

Varso tower in Warsaw with WELL pre-certification

Developer HB Reavis has got its Varso skyscraper project in downtown Warsaw WELL Core & Shell-pre-certified. The company’s flagship scheme in Poland is the first building in Europe to have secured such pre-certification. The WELL Building Standard is a new certification system that focuses on ...

PGNiG doesn’t exclude buying gas from Russia after Gazprom deal expires

State-owned gas giant PGNiG is not excluding any potential purchases of Russian gas, after the current contract with Gazprom expires in 2022, as long as they’re based  “on sound business terms,” deputy CEO Łukasz Kroplewski said. “We are counting on business rationality, ...

OFE reform still at standstill

According to Deputy PM Mateusz Morawiecki, the planned OFE reform is not moving ahead as various ministries can’t reach an agreement regarding its details. “We are conducting talks with Family, Social and Labor Policy Minister Elżbieta Rafalska. There is no change to our plan, but there ...

Pfleiderer plans €200 mln EBITDA by 2021

WSE-listed building materials producer Pfleiderer plans to reach €1.2 billion in revenues and €200 million in EBITDA by 2021, the company said in its new strategy.

Ryanair cancels over 100 Polish flights

Low-cost Irish airline Ryanair has canceled 101 flights to and from Polis airports between September 18-October 28, the company said.

San Leon sells 7 Polish concessions

San Leon Energy sold six of its Polish concessions to Horizon Petroleum, the company said in a market filing. The sale concerns oil and gas licenses in Cieszyn, Bielsko Biała, Prusice, Kotlarka and one concession which is under application.

CETA to take effect on September 21

The provisional application of the free trade agreement CETA between EU and Canada will come into force on September 21, the Finance Ministry said.

EP delegation: Polish government to stop logging in Białowieża

According to the MEP delegation, the Polish government declared it will stop logging in the primeval Białowieża forest in compliance to the European Court of Justice verdict.

Housing construction up by 20.7% in August - GUS

In August, the number of dwellings in which construction has started increased y/y by 20.7 percent to 19,543, according to data released by the Central Statistics Office , moreover, the number of dwellings completed grew by 20.8 percent y/y to 15,372.

Dom Development launches Port Żerań project in Warsaw

Warsaw Stock Exchange-listed developer Dom Development has launched apartment sales in its Port Żerań residential project located in the Białołęka district of the Polish capital. On offer are a total of 362 units in four buildings, which are scheduled to be completed in the final ...

Retail sales grow 7.6% in August– GUS

Retail sales increased in August by 7.6 percent year-on-year and 1.2 percent m/m, according to GUS. Market consensus prepared by the Polish Press Agency , saw the sales increase by 6.8 percent y/y and 0.6 percent m/m.

Industrial production up by 8.8% in August – GUS

The industrial production in August increased by 8.8 percent y/y, while m/m it grew by 5.9 percent, according to Central Statistics Office GUS.

Government approves Central Airport plan

The government has approved the plan to build a Central Airport, said PM Beata Szydło. The hub will be located in Stanisławów in the Baranów municipality confirming the previous media reports.

KNF: insurers with PLN 3.79 bln H1 profit

Net profit of insurers operating on the Polish market increased to PLN 3.79 billion in H1 compared to PLN 2.25 billion a year earlier. Gross written premiums amounted to PLN 31.57 billion compared to PLN 27.42 billion a year earlier, the Financial Supervision Authority reported.

Czarnecki sells his stake in LC Corp

The majority shareholder of WSE-listed real estate developer LC Corp, Leszek Czarnecki, together with units controlled by him sold a 51.7 percent stake in the company, the company said in a market filing.

LNG terminal to be expanded

State-run gas transit infrastructure operator Gaz-System announced that it will expand the LNG terminal in Świnoujście, and has already started design and preparatory works.

Polish media and entertainment sector to reach PLN 45.3 bln in 2021 - PwC

The Polish media and entertainment market is expected to grow on average by 3.34 percent per annum and reach PLN 45.3 billion in 2021, according to a report by PwC consultancy.

Law on REITs to be delayed

Despite earlier plans, the legislation on real estate investment trusts will not come into force on January 1, 2018, as works on the draft bill are still in the analysis phase. Moreover, the law will only cover residential projects, the Finance Ministry said.

HICP inflation at 1.4% in August– Eurostat

The harmonized index of consumer prices for Poland stood at 1.4 percent year-on-year in August, the same as in July, according to data released by the EU’s statistics office Eurostat. In month-on-month terms, prices increased by 0.2 percent.

Kredyt Inkaso with PLN 300 mln bond issue

WSE-listed debt collector Kredyt Inkaso has launched a PLN 300 million bond issue program. According to the plan, the company will issue unsecured, ordinary, bearer bonds within the next 12 months.

Vistal Group creditors terminate loans, credit lines

WSE-listed steel construction producer Vistal had his credit lines terminated by several lenders, including state-owned BGK. On the day of the termination, Vistal has PLN 8.4 million in outstanding debt. Moreover, BGK suspended the company’s credit line.

The Yachting Club mulls NewConnect IPO

Yachting charter company The Yachting Club, plans IPO on the small-cap, alternative, NewConnect market. For this purpose, the company signed an agreement with WSE-listed financial advisory INC which will prep the company for the potential floatation which is planned for Q3, 2018.

Torpol signs PLN 267 mln deal with PKP PLK

WSE-listed railway infrastructure builder Torpol signed a net PLN 267.6 million deal for works on the 216 railway line with railway infrastructure firm PKP PLK. The tender concerns route connecting Działdowo and Olsztyn.

EU subsidies reach PLN 127.8 bln

The value of EU subsidy applications submitted by September 17 amounted to PLN 249.7 billion, according to data released by the Ministry of Development. Till mid-September, 22,475 contracts for the EU co-financed projects amounted to PLN 127.8 billion in EU subsidies.

Employment and wages growth continues in August – GUS

According to data released by the Polish Central Statistical Office , the average employment in August grew by 4.6 percent year-on-year, while the wages grew by 6.6 percent. In month-to-month terms, wages inched down by 0.2 percent, while the employment increased by 0.1 percent.

Orbis with two franchise deals in Slovenia

WSE-listed hotel operator Orbis signed two franchise contracts with local investor Terme Maribor regarding two existing hotel facilities in the Slovenian capital, Maribor, the company said in a market filing.

Central Airport location chosen – media

According to radio news agency IAR, the planned Central Airport will be built in Baranów in Mazowieckie voivodship. The town is located 40 kilometers west of Warsaw and has A2 highway and Warsaw-Żyrardów railway nearby.