Production and sales of aluminium profiles and components used in construction, automotive business, transport, electrical engineering and many other sectors.
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GRI 2-1
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GRI 2-2
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GRI 2-6
Basic information about the Company and the Capital Group
Grupa KĘTY S.A. (hereinafter referred to as the Company or the Issuer) is a parent of the Capital Group of Grupa KĘTY S.A. (hereinafter referred to as the Capital Group), composed of three business segments.
Production and sales of aluminium façades, doors and windows, internal structures as well as external aluminium roller shutters and roll-up gates for the construction business.
Production and sales of printed flexible packaging and BOPP films for food manufacturers and other sectors.
Diversification of activities in the three areas of various natures and customer groups reduces the market risk resulting from economic volatility in the particular industries, and improves the stability of the Capital Group financial performance.
The Capital Group of Grupa KĘTY S.A. is an international concern with approximately 5,500 employees and 15 foreign companies, selling products to approximately 5,000 customers on 56 markets. In 2022, more than half of the Capital Group’s sales revenue was generated outside Poland, specifically on the European market, where 48% of sales are generated, including 41% in countries belonging to the European Union, such as Germany, the Czech Republic, the United Kingdom and the Netherlands. Outside Europe, sales are generated in the United States, Vietnam, Saudi Arabia and the United Arab Emirates, among others.
5,500
Employees
15
Foreign companies
The Capital Group has 12 production plants, out of which four belong to the EPS and are located in Kęty, Tychy, Borodianka (Ukraine) and Slovenska Bistrica (Slovenia), five belong to the ASS and are located in Bielsko-Biała, Złotów, Opole, Goleszów and Ogrodzona, and three belong to the FPS and are located in Kęty, Tychy and Oświęcim. The Capital Group has its in-house Research and Development Centre based in Kęty, within the Extruded Products Segment, as well as the Research and Innovation Centre in Ogrodzona, within the Aluminium Systems Segment.
Production plants and research centres of the capital group
Major events and achievements
Year 2022 abounded with events important the Capital Group, both in the fields of finance and operations, as well as in the social, environmental and corporate areas. These included, among others, changes in the composition of the Supervisory Board of Grupa KĘTY S.A. and its shareholders, the adjustment of the operation of the companies operating in Ukraine to the conditions of the war in that country, the refinancing of debt, the payment of the dividend (the highest in the Company’s history), or the re-entry of the shares of Grupa KĘTY S.A. into the WIG 20 index after more than 15 years. The year was also characterised by numerous awards and distinctions granted to the companies of the Capital Group and its employees, among which the following should be singled out: Grupa KĘTY S.A.’s taking the 2nd place in the prestigious ranking of ‘The Stock Exchange Company of the Year’, the 1st place among WIG30 index companies and 5th place in the assessment of individual investors in the ranking prepared by the Chamber of Brokers and Advisers for ‘Companies Which Best Communicate With The Market’, or the nomination of Mr Dariusz Mańko to the ‘BULLS and BEARS – CEO Of The Year’ award, together with two other CEOs of stock listed companies. Some selected major events and achievements of the Capital Group in 2022 and in 2023 by the date of this report publication are presented in the table below.
| Q.1, 2022 | ||
|---|---|---|
| Event | Date | Additional information |
| Resignation of Ms Agnieszka Zalewska from the function of a Member of the Company Supervisory Board as of 10 February 2022. | 10 February | Current report No. 4/2022 |
| In reference to the Russian attack on Ukraine, the Management Board of Grupa KĘTY S.A. informed about temporary suspension of operating activities at two companies of the Capital Group, i.e. ALUPOL LLC with its registered office in Borodianka near Kiev (the Extruded Products Segment), and Aluprof System Ukraina LLC with its registered office in Kiev (the Aluminium Systems Segment). | 24 February | Temporary suspension of operating activities at two companies in the territory of Ukraine |
| Appointment of Ms Anna Włoszek Member of the Company Supervisory Board. | 17 March | Current report No. 14/2022 |
| Grupa KĘTY S.A. occupied the 3rd position in the prestigious main ranking of the 23rd edition of the Best GPW Listed Companies under the name ‘The Stock Exchange Company of the Year’, organised by Puls Biznesu | 21 March | The Stock Exchange Company of the Year 2022 |
| The Management Board of Aluprof S.A. (the Issuer’s subsidiary) has made a decision on the acceptance of the terms presented by Bank POLSKA KASA OPIEKI S.A. with regard to a non – renewable investment credit agreement to the total capped amount of PLN 150 million. | 22 March | Current report No. 14/2022 |
| Mr Dariusz Mańko, Grupa KĘTY CEO, has been nominated as one of three stock listed companies CEOs to the award of ‘BULLS and BEARS’ in the category of the ‘CEO Of The Year’, which has been awarded by the ‘Parkiet’ daily of the Warsaw Stock Exchange for 28 years. | 28 March | A Manager – Institution |
| Q.2, 2022 | ||
|---|---|---|
| Event | Date | Additional Information |
| Motion of the Management Board of Grupa KĘTY S.A. with regard to 2021 profit distribution and dividend payment as well as assessment of the motion by the Supervisory Board. | 22 April | Current report No. 17/2022 |
| The Management Board of Grupa KĘTY S.A. made a decision on acceptance of the terms proposed by BNP Paribas Bank Polska Spółka Akcyjna with regard to amendment of the multipurpose credit facility agreement concluded with the bank and signing an annex to the agreement together with the other borrowers. Pursuant to the annex, the amount of the total debt limit was increased for PLN 100 million, to PLN 400 million. | 27 April | Current report No. 18/2022 |
| In the second edition of the ‘Best Employers – Poland 2022’ ranking Grupa KĘTY was ranked 12th in the category of ‘Production and processing of raw materials, construction materials, metal and paper’. | 28 April | Best Employers – Poland 2022 |
| Grupa KĘTY S.A. took the 1st place among WIG30 index companies in the assessment of institutional investors and the 5th place in the assessment of individual investors in the ranking prepared by the Chamber of Brokers and Advisers for ‘Companies Which Best Communicate With The Market’. | 18 May | Companies Which Best Communicate With The Market |
| The Annual General Meeting passed Resolution No. 6/21 on dividend payment, based on which it was decided to assign to the payment of dividend to the Company shareholders the total amount of PLN 505,378,460.24, i.e. PLN 52.37 per share, in reference to the number of shares of the Company as at the date of passing this resolution (9,649,392). | 25 May | Current report No. 22/2022 |
| The Management Board of Grupa KĘTY S.A. received a notification from Powszechne Towarzystwo Emerytalne Allianz Polska S.A., managing Allianz Polska Otwarty Fundusz Emerytalny and Allianz Polska Dobrowolny Fundusz Emerytalny, stating that as a result of a transaction in the Issuer’s shares on 23 May 2022 the percentage of the share capital and the total number of votes at the Company dropped below 5%. | 31 May | Current report No. 23/2022 |
| The Management Board of Grupa KĘTY S.A. received a decision on the registration on 7 June 2022 by the District Court for Kraków-Śródmieście in Kraków, 12th Commercial Division of the National Court Register, of the Company Articles amendment passed by Resolution of the Annual General Meeting No. 19/22 on 25 May 2022. | 9 June | Current report No. 24/2022 |
| Resumption to a limited extent of the production activities at the Ukrainian companies Alupol LLC and Aluprof System LLC. | 22 June | Current report No. 25/2022 |
| Update of the forecast of selected consolidated financial and operating results for the year 2022. | 22 June | Current report No. 26/2022 |
| Aluprof S.A. (a subsidiary of the Issuer) received two prestigious awards in the category of construction materials: ‘Golden Champion of the Year 2022’ and ‘Golden Construction Brand of the Year’. | 27 June | Aluprof wins 2022 Champion of the Year and Construction Brand of the Year titles |
| Q.3, 2022 | ||
|---|---|---|
| Event | Date | Additional information |
| The Management Board of Grupa KĘTY S.A. made a decision on acceptance of the terms proposed by Powszechna Kasa Oszczędności Bank Polski S.A. with regard to amendment of the overdraft in the current account and foreign currency accounts agreement concluded with the bank, and signing an annex to the agreement together with the other borrowers. Pursuant to the annex, the credit amount was increased for PLN 220 million, to PLN 400 million, and the term of agreement was as well as the term for drawing and repayment of the overdraft was extended until July 2024. | 25 July | Current report No. 27/2022 |
| Aluprof S.A. (a company of the Capital Group) extended its portfolio in the green construction area. Fire resistance tests of the innovative skylight based on the MB-SR50N EI system ended with granting REI 30 rating. The tested skylight with photovoltaic modules is a worldwide unique solution for fireproof roofing with photovoltaic glass. | 28 July | A new skylight, unique on a global scale, from Aluprof. Light, energy and fire safety in one rooflight. |
| Announcement by GPW Benchmark S.A. regarding inclusion of Grupa KĘTY S.A. in WIG20 and WIG20 TR index with the stake of 9,650,000 shares, post the session of 3 August 2022. | 1 August | Announcement by GPW Benchmark S.A. |
| Aluminium Kety Emmi (a company of the Capital Group) installed photovoltaic panels at its production sites. At the first stage, a plant of the capacity of 400 kW was installed, which generates 12% of the electric energy needed. It has been estimated that limitation of the grid energy consumption will reduce CO2 emission by roughly 110 tons a year. An extension of the existing plant has also been planned. | 19 August | Photovoltaic systems at our company in Slovenia. |
| Grupa KĘTY S.A. obtained an Environmental Product Declaration (EPD) for aluminium profiles extruded from billets produced at the in-house foundry. The declaration refers to the EN 15804 standard and has been verified for compliance with the ISO 14025 standard by an independent auditor. The carbon footprint of the profiles is only 3.3 kg of CO2e/kg, compared to 9.0 kg of CO2e/kg being the average quantity established by the European Aluminium Association. | 23 September | LOW CARBON KETY. The carbon footprint of our profiles is only 3.3 kg CO2e / kg! We have a new Environmental Product Declaration (EPD). |
| The Management Board of Grupa KĘTY S.A. informed that on 26 September 2022 it made a decision on the acceptance of the terms proposed by Bank POLSKA KASA OPIEKI S.A. with regard to amendment of the credit limit agreement concluded with the bank, and signing an annex to the agreement together with the other borrowers. Pursuant to the annex, the amount of the total debt limit was increased by PLN 180 million, to PLN 530 million and the period of the credit limit availability to all borrowers was extended until 31 October 2023. | 26 September | Current report No. 29/2022 |
| Q.4, 2022th | ||
|---|---|---|
| Event | Date | Additional information |
| Grupa KĘTY S.A. was honoured in the competition for ‘The Best Annual Report 2021’ organised by the Institute of Accountancy and Taxes for a debut in the ‘Integrated Report’ category. | 13 October | The Best Annual Report 2021 |
| For the 14th time, the Aluprof brand was honoured with the title of the ‘Market Leader in Joinery’ in the category of aluminium and roller-shutter systems. | 18-19 October | Aluprof is named Fenestration Market Leader for the fourteenth time |
| The Management Board of Grupa KĘTY S.A. made a decision on the acceptance of the terms proposed by ING Bank Śląski S.A. and signing of a term loan agreement for the total amount of PLN 200 million, to which a party, apart from the Issuer, is its subsidiary Aluform Sp. z o.o. | 15 December | Current report No. 31/2022 |
| Forecast of the selected financial and operating results for the year 2023. | 20 December | Current report No. 33/2022 |
| The Management Board of Grupa KĘTY S.A. made a decision on the acceptance of the terms proposed by BNP Paribas Bank Polska Spółka Akcyjna with regard to amendment of the multipurpose credit facility agreement concluded with the bank and signing an annex to the agreement together with the other borrowers. Pursuant to the annex, the maturity date of the credit was postponed to 20 November 2024. | 22 December | Current report No. 34/2022 |
| Q.1, 2023 – until the date of the report publication | ||
|---|---|---|
| Event | Date | Additional information |
| The Management Board of Grupa Kęty S.A. received a notification from Powszechne Towarzystwo Emerytalne Allianz Polska S.A., managing Allianz Polska Otwarty Fundusz Emerytalny and Allianz Polska Dobrowolny Fundusz Emerytalny, stating that on 31 December 2022, as a result of merger with Aviva Powszechne Towarzystwo Emerytalne Aviva Santander S.A., managing Drugi Allianz Polska Otwarty Fundusz Emerytalny, the percentage of the share capital held and the total number of votes at Grupa Kęty S.A. in the Allianz OFE, Allianz DFE and Drugi Allianz OFE accounts grew over 15%. | 5 January | Current report No. 1/2023 |
| Aluprof S.A. counted in the Top 10 largest manufactures of construction materials in Poland, in the ranking created by the Builder Polska journal and Dun & Bradstreet, in liaison with PwC Polska. | 18 January | Ranking Builder Producenci IV |
| The Management Board of Grupa KĘTY S.A. received a notification from Generali Powszechne Towarzystwo Emerytalne S.A., managing Generali Otwarty Fundusz Emerytalny and Generali Dobrowolny Fundusz Emerytalny, stating that as a result of management take-over by the Society of NN Life Otwarty Fundusz Emerytalny and NN Life Dobrowolny Fundusz Emerytalny on 1 February 2023, the share in equity of Grupa KĘTY S.A. and the total number of votes recorded in the accounts of the funds of Generali OFE, Generali DFE, NN LIFE OFE, and NN Life DFE exceeded the threshold of 5% | 3 February | Current report No. 3/2023 |
The history of Grupa KĘTY S.A. is 70 years long. The beginnings date back to the mid 20th century, when a decision was made on building an aluminium processing plant in Kęty which started manufacturing casting alloys in 1953. In the years 1953-1992, the Issuer operated in the form of a state-owned company under the name of Zakłady Metali Lekkich ‘Kęty’ [‘Kęty’ Light Metals Plant], to be transformed in 1992 into a sole-shareholder company of the State Treasury. In 1995, the Company privatisation process was carried out, and in January 1996 the Company shares were introduced to trading at the Warsaw Stock Exchange. In 2001, the Company name was changed to Grupa KĘTY S.A.
Below presented are the selected major events in the history of Grupa KĘTY S.A. that lead to the origination of the current structure of the Capital Group.
| 1953 | Commencement of casting alloys manufacturing in Kęty by a state-owned company under the name of Zakłady Metali Lekkich ‘Kęty’ |
| 1956 | Creation of the first Foil Rolling Department |
| 1958 | Creation of the first Press and Drawing Mill Department |
| 1992 | ZML ‘Kęty’ transformation into a sole-shareholder company of the State Treasury |
| 1995 – 1996 | Zakłady Metali Lekkich ‘Kęty’ (now Grupa KĘTY S.A.) privatisation and debut at the Warsaw Stock Exchange |
| 1996 | Acquisition of 47.62% of shares of Metalplast Bielsko S.A. (now Aluprof S.A.), leading to the process of the Capital Group formation. In the subsequent years the share in the company equity had been increased to 100%. |
| 1998 | Creation of Alupol sp. z o.o. with its registered office in Tychy, in the Katowice Special Economic Zone |
| 1999 | Within the restructuring process, the Research and Development Department, the Foundry, and the Engineering Services Department were separated from ZML Kęty S.A. and transformed into newly established companies of Alutest sp. z o.o. (in 2002 the object of the company operations changed and it was renamed into Dekret Sp. z o.o.), Alumetal sp. z o.o. (company sold in 2002), and Alutech sp. z o.o. (company wound up in 2018). |
| 2000 | Transformation of the Aluminium Joinery Production Department of Metalplast-Bielsko S.A. into a new company of Metalplast-Stolarka Sp. z o.o. |
| 2005 | Creation by Metalplast-Stolarka Sp. z o.o. of the company of MERTZ s.r.o. with its registered office in Ostrava (now Aluprof System Czech s.r.o.) |
| Creation by Metalplast-Bielsko S.A. of the companies of Metalplast Deutschland GmbH with its registered office in Düsseldorf (now Aluprof Deutschland GmbH) and Metalplast Romania s.r.l. (now Aluprof System Romania s.r.l.), and acquisition of 100% shares at Metalplast Zalur Kft with its registered office in Dunakeszi (now Aluprof Hungary Kft). | |
| Creation by the Issuer of the company of Alupol LLC with its registered office in Borodianka. | |
| 2006 | Acquisition by Grupa Kęty S.A. of 100% shares in Aluprof sp. z o.o. with its registered office in Opole, and its merger with Metalplast Bielsko S.A. together with a change of name into Aluprof S.A. The change of name from Metalplast to Aluprof also referred to all foreign commercial companies of the ASS segment. |
| Acquisition by Aluprof S.A. of 100% shares in Aluprof UK Ltd with its registered office in the United Kingdom. | |
| Disposal by Aluprof S.A. in favour of the Issuer of 100% shares at Metalplast Stolarka Sp. z o.o. | |
| Acquisition by Aluprof S.A. from Metalplast-Stolarka Sp. z o.o. of 100% shares in Aluprof System Czech s.r.o. | |
| 2007 | In the process of privatisation, acquisition by Aluprof S.A. of 85% shares in Fabryka Elementów Wyposażenia Budownictwa Metalplast Złotów S.A. with its registered office in Złotów (now ROMB S.A.). As a result of taking-up new shares of that company and acquisition of the remaining shares, Aluprof S.A. increased its share to 100%. |
| 2009 | Acquisition by Aluprof S.A. of 100% shares in Aluprof System Ukraina LLC |
| Division of Alupol sp. z o.o. with its registered office in Tychy into Aluform Sp. z o.o. and Alupol sp. z o.o. Aluform Sp. z o.o. being a 100% subsidiary of Grupa KĘTY S.A. took over the assets related to the operations of the Extruded Products Segment, whereas Alupol sp. z o.o. took over the production assets related to the Flexible Products Segment. | |
| 2010 | Division of Alupol sp. z o.o. with its registered office in Tychy into Aluform Sp. z o.o. and Alupol sp. z o.o. Aluform Sp. z o.o. being a 100% subsidiary of Grupa KĘTY S.A. took over the assets related to the operations of the Extruded Products Segment, whereas Alupol sp. z o.o. took over the production assets related to the Flexible Products Segment. |
| 2011 | Creation by Grupa KĘTY S.A. of the ‘Grupa Kęty for the Children of the Podbeskidzie Region’ Foundation. |
| 2012 | Creation by Alupol Packaging S.A. of Alupol Films Sp. z o.o. and commencement of BOPP films production in Oświęcim by that company in 2016. |
| 2014 | Creation by Alupol Packaging S.A. of Alupol Films Sp. z o.o. and commencement of BOPP films production in Oświęcim by that company in 2016. |
| Creation by the Issuer of Grupa Kety Italia s.r.l. with its registered office in Milan. | |
| Acquisition by Aluprof S.A. of 100% shares of Marius Hansen Facader A/S (now being wound up). | |
| Creation by Aluprof S.A. of Aluprof System USA Inc., which further took up 45% shares in Aluprof USA LLC with its registered office in New York, created together with two American partners (now being wound up). | |
| 2015 | Creation by Aluprof S.A. of Aluprof Belgium N.V. with its registered office in Dendermonde |
| 2016 | Acquisition by Aluform Sp. z o.o. of AHA EMMI Predelava aluminija, d.o.o. in Slovenia (now Aluminium Kety Emmi d.o.o). |
| Creation by Aluform Sp. z o.o. of Aluminium Kety Deutschland GmbH with its registered office in Dortmund | |
| 2017 | Creation by Aluform Sp. z o.o. of Aluminium Kęty CSE s.r.o. with its registered office in Ostrava. |
| Take over by Aluprof S.A. of Metalplast-Stolarka Sp. z o.o. as a result of merger. |