Legal basis: The Article 17 item 1 of the MAR – confidential information

The Board of Directors of Zakład Budowy Maszyn “ZREMB-CHOJNICE” S.A. (Joint Stock Company) _”Company”, “Issuer”, in connection with the information received today, i.e. November 16, 2020, on the estimated values of selected individual financial data for the third quarter of 2020, hereby provides the estimated selected individual financial data of ZBM “ZREMB-CHOJNICE” S.A. for three quarters of 2020 together with comparative data for the three quarters of the 2018 and 2019 financial years.

For the purpose of calculating the average individual results of the Company and calculating deviations in relation to the results achieved in the three quarters of 2020, the Board of Directors of the Issuer has adopted the appropriate period in 2018-2019.

The final values of financial data for the third quarter of 2020 presented in this report will be published in the periodic report as of November 23, 2020.

The comment of the Board of Directors of ZBM ZREMB-Chojnice S.A. (Joint Stock Company) to the estimated individual financial results for the period from first to third quarter of 2020.

During the first three quarters of 2020, the company generated revenues from sales of about PLN 18,302 thousand, which – compared to the average revenues from sales for the respective periods in 2018 and 2019 – is a decrease of 25.47 %. The achieved level of revenues compared to the comparative periods was influenced by the effects of the COVID-19 pandemic, which the Company informed about in more detail in the periodic report for the first half of 2020.
These effects are also reflected in the respective EBIT and EBITDA result achieved in the first three quarters of 2020, where it was possible to maintain them in positive values. The reported profit of PLN 27,000 (EBIT) and PLN 600,000 (EBITDA), being compared to the average profit in the relevant periods in 2018 and 2019 of PLN 1,369,000 (EBIT) and PLN 1,868,000 (EBITDA) represents a significant decrease.
The estimated individual net result achieved in the first three quarters of 2020 is a loss of PLN – 234,000, which compared to the average individual net profit in 2018 and 2019 of PLN 1,466,000, is a considerable difference.

The full content of the report can be found in the Polish version

SIGNATURES OF PERSONS ACTING ON BEHALF OF THE COMPANY
Date Name and Surname Position/Function Signature
2020-11-16 Krzysztof Kosiorek-Sobolewski Chairman of the Management Board
2020-11-16 Marcin Garus Deputy Chairman of the Management Board