Hawe net profit down by 47% in 3Q 2011

2011-12-09



Hawe, a Polish fibre-optic network operator, ended the first three quarters of 2011 with consolidated revenues of PLN 54.4m (€12.2m), reporting a 15.6% fall on a yearly basis. Consolidated net profit noted by the company in the Q1-Q3 2011 period decreased to PLN 11.4m (€2.5m), falling by 47.1% year on year. The company recorded EBIDTA of PLN 20.8m (€4.7m) between January and September 2011, down 27.8% if compared to the corresponding period of the prior year.


Facing these results, the company's management team underlined that a few days before the financial statement publication, Hawe reported record exchange trading results (40% of all securities) on the Warsaw Stock Exchange, which reached PLN 154m (€34.5m). As stated by Jerzy Karney, Hawe’s chairman, it reflects a high level of investors’ trust in the strategy that has been currently implemented.

Hawe came with a 20th place in the 2011 annual Technology Fast 50, ranking some of the fastest growing technology companies in the Central and Eastern Europe by revenues recorded over the period 2006-2010 held by Deloitte. In the period under review the company’s revenues went up by 748%. Please see the story: Fastest growing technology companies in the CEE region.