Mex Polska, a company listed on the Warsaw Stock Exchange, reported satisfactory financial results for the first half of 2023 despite challenging market conditions. From January to June, the Group’s net profit amounted to over 1.6 million PLN, whilst the same period in 2022 (excluding the impact of a one-off event worth 1.1 million PLN) saw a net loss of 0.5 million PLN. During this time, the consolidated operating profit (EBIT) exceeded 2.4 million PLN, a nearly fourfold increase compared to the first half of 2022 (after removing the aforementioned one-off event). As expected, net sales revenue also experienced solid growth, rising to 44.59 million PLN (+27% YoY). The positive results can be attributed the Group’s well-chosen development strategy. One of its most profitable segments is the bistro segment, which includes the popular concepts ‘Pijalnia Wódki i Piwa’ and ‘Chicas&Gorillas’.
“Constant monitoring of rapidly growing costs and systematic price valorization, along with a diversified business model and consistent opening of new proprietary venues, have enabled us to achieve better results and view the future with optimism. We are pleased with the results achieved in the first half of 2023. The consolidated net profit exceeded 1.6 million PLN, which marks significant progress compared to the same period in 2022 when, after eliminating the impact of a one-off event worth 1.1 million PLN, we incurred a net loss of 0.5 million PLN. This confirms that our chosen development strategy has been successful, and we can look to the future with ease, gradually achieving our set milestones,” says Dariusz Kowalik, Member of the Board and CFO at Mex Polska SA. “Our goal is to further monitor costs, increase margins, and boost sales value, while also establishing new venues,” he adds.
At the end of the accounting period, on June 30, 2023, the Mex Polska Capital Group’s liquid assets amounted to over 9 million PLN.
Mex Polska SA is consistently expanding its business by developing several independent and profitable gastronomic concepts across the country.
One of the Group’s most lucrative segments is the bistro segment. The newest concept in this category is Chicas&Gorillas, a classic shot bar primarily aimed at a younger clientele. The chain currently has three locations: in Łódź, Poznań, and Wrocław. The latest shot bar is set to open in the capital. “We want to utilize Warsaw’s potential and introduce our concept to this market in the coming weeks. Known for its low prices and wide range of soft drinks, we plan a small event for our shareholders and other investors, as well as the press to mark the occasion. I cordially invite everyone, and we will soon provide more details through a press release and our social media channels,” says Paweł Kowalewski, President of the Management Board at Mex Polska SA.
