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Net financial result of enterprises down by 13.1% y-o-y in Q1-Q3


In the first three quarters of 2012 the net financial result of non-financial enterprises employing 50 or more people amounted to just over PLN 67.2bn (approx. €16bn), which represents a decrease of 13.1% compared with the same period of the previous year, according to research carried out by the Central Statistical Office (GUS). By way of comparison, in 2011 as a whole the figure rose by 16.2%.

During the analysed period, revenues of enterprises from all operations amounted to 1,760bn (€418.2bn), i.e. 6.5% higher than in the corresponding period of 2011. As costs rose at a higher rate (by 7.6% y-o-y), the sector’s net profit margin decreased to 3.8% from 4.7%. There was also a deterioration in corporate liquidity: the first-degree liquidity ratio amounted to 31.3%, down from 36.7% a year earlier.

In Q1-Q3 about 72.1% of all non-financial enterprises posted a net profit, down from 72.8% a year earlier. In manufacturing the share of profitable firms edged up, however, to 76.1% from 76%.

The percentage of exporting firms in the overall population of companies increased to 48.1% from 46.6% a year earlier. The proportion of profitable exporters was 76.3%, down from 77.2%.

The survey covered 17,456 businesses employing 50 or more people, drawn from all sectors with the exception of agriculture, hunting, forestry, fishing, financial services and higher education.

Financial results of non-financial enterprises in Poland (PLN bn), Q1-Q3 2010, Q1-Q3 2011 and Q1-Q3 2012

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