Polish aluminium extruder Grupa Kety reported increased sales in the second quarter of 2024 despite overall European market weakness, thanks to strategic price cuts and discounts aimed at maximizing capacity utilization. The company sold 26,400 tons of extruded products during this period, marking a 14% increase year-on-year and maintaining the same level as the previous quarter. The total output for the first half of the year rose by 11% to 50,200 tons compared to the same period last year. Grupa Kety focused on volume sales, accepting reduced margins to ensure high capacity use.
The primary driver of this sales growth was increased demand within Poland, while export markets such as Germany and Italy showed weaker performance. Additionally, the company experienced a decline in sales to the automotive sector, which was offset by higher deliveries to construction companies and home appliance manufacturers.
Looking ahead to the remainder of 2024, Grupa Kety does not yet see signs of demand recovery, although the company typically experiences stronger volume sales in the second half of the year compared to January-June.
In the second quarter, Kety's sales revenues fell by 3% year-on-year to 1.3 billion zlotys ($330 million). Despite weaker profits from extruded products, the company's overall net profits increased by 10% to 166.4 million zlotys, driven by stronger sales in construction and packaging products.
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