ERJ staff report (DS)
Debica, Poland -- In the three months to 30 Sept, 2011 Tire Company Debica S.A. generated sales revenues totaling PLN 717 million (euro 162 million) up by 38.9 percent over those recorded in very good Q3 2010. The company also reported record operating profit of PLN 59.9 million, up by 61.6 percent over Q3 of the previous year. Net profit totaled PLN 32.6 million.
The Goodyear group owns almost 66 percent of the shares in TC Debica. In Q3 2011 total sales to Goodyear Group's related entities totaled PLN 657.0 million and accounted for 91.6 percent of total sales in value terms and for 92 percent of total sales in tonnage terms. Export sales totaled PLN 560 million and accounted for 78.1 percent of sales in value terms, with 99.8 percent of exports sold to the Goodyear Group related entities. On the domestic front, total sales to Goodyear Group's related entities totaled PLN 657.0 million and accounted for 91.6 percent of total sales in value terms and for 92 percent of total sales in tonnage terms.
The company hinted at significant investment in production equipment, saying, "Due to intensification of the investment process the Company's tangible fixed assets value was up by PLN 23.5 million. Meanwhile the intangible assets were down by PLN 0.5 million, whereas long-term financial assets (derivatives) were down by PLN 3.4 million."
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Press release from Tire Company Debica