Money Buzz! Europa

Category: Warsaw

  • Poland: More dwellings completed this year than the year before

    Poland: More dwellings completed this year than the year before

    According to the preliminary data gathered by the Statistics Office, 135.8 thousand dwellings were completed in the period of January-August 2020, by 5.5% more than a year ago.

    Developers completed 87.7 thousand dwellings (9.4% more than in the corresponding period of 2019), whereas private investors completed 46.0 thousand dwellings, by 3.5% more than in 2019.

    Within these forms of construction, 98.4% of the total number of completed dwellings was built (respectively 64.6% and 33.8%).

    Less dwellings than a year ago were completed within cooperative construction (816 compared to 1.436 dwellings).

    In other forms of construction (municipal, public building society and company construction) 1.338 dwellings were completed in total (compared to 2.718 in the previous year).

    The total useful floor area of dwellings completed in the period of January-August 2020 amounted to 12.1 million m2, by 4.4% more than in the corresponding period of the previous
    year.

    Compared to the period of January-August 2019, the average useful floor area of 1 dwelling decreased by 0.9 m2 to the level of 88.8 m2.

  • Iliad announces its intention to acquire Play, a Polish telecom operator

    Iliad announces its intention to acquire Play, a Polish telecom operator

    French giant Iliad launched a public tender offer for all of the shares making up the capital of the Polish telecom operator, Play.

    The offer is set at a cash amount of PLN 39 per share (representing a total of c. €2.2 billion for 100% of the share capital and an enterprise value of c. €3.5 billion).

    Iliad has signed a binding agreement to purchase a 40% controlling interest from Play’s two reference shareholders for the same unit price (i.e. PLN 39 per share), which will give Iliad the majority of seats on Play’s Board of Directors.

    The deal remains subject to obtaining clearance from the relevant regulatory authorities and notification of the planned acquisition will be submitted to the European Commission.

    Play has seen exceptional growth over the past 15 years. It is the most recent entrant in the Polish mobile telephony market, having entered in 2007, and today it has 15 million subscribers and a 29% market share, making it the leading mobile telephony operator in Poland.

    Play currently employs some 2.800 people.

  • In June, only 6.3% of total tourists in Poland were foreigners

    In June, only 6.3% of total tourists in Poland were foreigners

    In June this year, 1.3 million tourists were accommodated in tourist accommodation establishments in Poland and 3.6 million overnight stays were provided for them.

    Compared to June 2019, this was lower by 63.6% and 61.1% respectively.

    In the total number of tourists accommodated, domestic tourists accounted for 93.7% (1.2 million) and the foreign ones for 6.3% (0.1 million).

    Compared to June 2019, this was lower by 57.2% and 88.6% respectively.

    The tourist accommodation establishments were most popular among guests from Germany,
    who constituted 45.3% of all foreign tourists. There were also many people from Ukraine
    (10.9%).

    A decrease in the number of tourists was also recorded in July 2020, compared to the corresponding month of the previous year. The number of persons accommodated was lower
    by about 34.7%, according to estimates.

  • Poland: Average gross wages and salaries up by 4.1% in August 2020

    Poland: Average gross wages and salaries up by 4.1% in August 2020

    In August 2020, average gross wages and salaries were higher by 4.1% year-on-year and amounted to 5337.65 PLN (around EUR 1.200).

    In August this year, compared to July this year, a decrease in average gross wages and salaries in enterprise sector was noted by Statistics Poland.

    It was caused among others by continuation of the payment of bonuses, quarterly, annual and jubilee awards and retirement severance pays (which beside the base remuneration are also included as components of wages and salaries) in the previous month.

    The figures are for companies with more than nine employees.

  • Comarch to implement a Business Intelligence solution for Oney Insurance

    Comarch to implement a Business Intelligence solution for Oney Insurance

    Malta-based Oney Insurance is set to implement a BI solution from Polish software giant Comarch.

    The project encompasses building an insurance-specific data warehouse representing the main insurance activities including sales, underwriting, claims and actuarial.

    Operating in the cloud, Comarch Business Intelligence enables users to extract data from multiple sources, including both Oney core insurance systems and external systems.

    ”Our product makes it possible to combine data from multiple sources, analyse the information into a digested format, and then disseminate the information to relevant stakeholders”, says Monika Olszówka, Oney Group Account Manager of Comarch Financial Services. 

    Oney Insurance is an insurance company belonging to Oney Bank, a French bank founded in 1983.

    Oney Bank, is a subsidiary of Groupe BPCE and Auchan Holding. 

  • European Investment Bank, loan for affordable housing in Szczecin

    European Investment Bank, loan for affordable housing in Szczecin

    Szczecin has become the second Polish town to receive a loan from the European Investment Bank (EIB) to finance a municipal development plan for social and affordable housing.

    The EIB has agreed to lend up to PLN 85 million (approx. €20 million) to two housing companies owned by the City of Szczecin for the construction and renovation of 250 social and affordable housing units (169 new and 81 renovated) and associated underground parking facilities.

    Szczecin loan includes two financing parts

    Up to PLN 58.25 million (approx. €13.7 million) was signed with Szczecińskie Towarzystwo Budownictwa Społecznego (STBS) and up to PLN 26.25 million (approx. €6.1 million) was signed with Towarzystwo Budownictwa Społecznego Prawobrzeże (TBSP).

    For the first time in social and affordable housing projects financed by the EIB, a specific focus on green infrastructure has been included in the operation.

    Thus, a separate PLN 3.4 million loan (approx. €0.8 million) was signed with Szczecińskie Towarzystwo Budownictwa Społecznego (STBS) to finance the integration of green roofs, urban farming plots, rainwater collection systems and other green elements.

    Before Szczecin, the EIB had signed two loans in this sector with two municipal companies in Poznań. Such loans financed the construction and renovation of over 2.300 social and affordable housing units in the capital of the Wielkopolska Region.

  • DeeZee introduces the eco-friendly packaging, e-receipts and e-invoices

    DeeZee introduces the eco-friendly packaging, e-receipts and e-invoices

    DeeZee, an online retailer part of CCC Group, decided to stop the use of non-recyclable film and the implementation of eco-friendly packaging from secondary raw materials by the end of 2020.

    The brand also stoped printing proofs of purchase in its online store deezee.pl, changing them to an electronic form.

    The brand decisions are in line with the environmental policy of the CCC Group

    By the end of 2020, plastic bags will disappear from all CCC Group stores.

    In 2021, 70% of in-house packaging will be recycled, and in 2022, 80% of this packaging will be reusable.

  • ODIDO Poland after 10 years: 2.700 shops in over 1.400 locations

    ODIDO Poland after 10 years: 2.700 shops in over 1.400 locations

    The franchise network, launched in 2010 under the banner ODIDO in Poland by MAKRO for small independent grocery shops, has turned 10 years old.

    Over the past decade, the network has built a vast presence across the entire country with 2.700 shops in over 1.400 locations today.

    ODIDO ranks the 6th largest franchise network in terms of store number in Poland. 

    The ODIDO partnership is based on a soft franchise model that empowers small shops in their daily operations through store renovation, assortment building, exclusive promotion deals from MAKRO and marketing campaigns while still allows them to maintain high degree of business independence.

    Over the past 10 years ODIDO has been evolving continuously to keep pace with the market trends and consumers’ needs.

    Solutions such as ”Wine zone”, ”Rioba coffee corner”, ”Grab it on the run” that offers sandwiches, fresh juices, hot snacks, have been introduced in ODIDO shops to address the rising demand for convenience shopping experience. 

  • Selvita revenues at EUR 15.2 million, up by 47% on a year-on-year basis

    Selvita revenues at EUR 15.2 million, up by 47% on a year-on-year basis

    For the H1 2020, Selvita reports consolidated revenues of EUR 15.2 million, up by 47% on a year-on-year basis. The EBITDA result reached EUR 3.6 million, compared to EUR 2.4 million a year earlier.

    The backlog for 2020, as of September 7, amounts to EUR 27.6 million and indicates an increase of 39%, as compared to the values reported a year ago.

    The company’s net profit in the first half of the year amounted to EUR 2.1 million, compared to EUR 1.1 million for a corresponding period last year.

    Selvita revenues increased in both segments

    Commercial revenues in the Services Segment increased in H1 2020 to EUR 12.5 million, showing a 51% increase, compared to EUR 8.6 million in the corresponding period last year.

    The EBITDA result of the Services Segment amounted to EUR 3.2 million, which indicates a 23.8% profitability.

    Revenues in the Bioinformatics segment (Selvita’s subsidiary – Ardigen S.A.) amounted to EUR 2.0 million in 1H 2020, indicating a 43% increase compared to the same period last year.

    The EBITDA result increased by 217% and amounted to EUR 0.4 million, with a margin of 20,1%.

  • EIB lends up to EUR 10 million to Polish company Scope Fluidics

    EIB lends up to EUR 10 million to Polish company Scope Fluidics

    The European Investment Bank (EIB) has agreed to lend up to EUR 10 million to Scope Fluidics, a Polish medical technology company developing innovative products in the field of medical diagnostics.

    Scope Fluidics uses microfluidic technologies and focuses on rapid characterization of antibiotic resistance of bacteria and on ultra-fast detection of bacterial and viral pathogens (including COVID-19).

    The EIB financing will support the company’s efforts to develop new, efficient and affordable methods for detection of pathogens causing infectious diseases, including COVID-19.

    Apart from striving to aid the fight with COVID-19 pandemic, Scope Fluidics’ team is also focused on the Antimicrobial Resistance (“AMR”), which is one of the gravest threats to global health.

    Testing a broader range of infectious diseases may significantly increase the standard of care and the effectiveness of prevention of complications in the evolving pandemic.

  • VIG to launch a completely digital insurance processes in Poland

    VIG to launch a completely digital insurance processes in Poland

    Vienna Insurance Group will introduce a motor insurance offer with fully digital distribution and claims settlement on the Polish market by the end of this year.

    The company has launched the ”Beesafe” start-up together with the Polish VIG company Compensa, which focuses on creating completely digital insurance processes and incorporating all digital customer touchpoints.

    Motor insurance policies that can be easily selected and concluded online form the basis.

    Moreover, the customer will have the opportunity to select additional services via the online platform.

    If the pilot project is successful, an expansion to other VIG countries is planned.

  • Poland gross domestic product decreased by 8.2% in the second quarter

    Poland gross domestic product decreased by 8.2% in the second quarter

    Gross domestic product (GDP) in the second quarter of 2020 was lower by 8.2% year-on-year comparison against the growth of 4.6 % in the correspording quarter of 2019.

    In the 2nd quarter of 2020 seasonally adjusted gross domestic product (GDP) (constant  prices, reference year 2010) was lower by 8.9% than in the previous quarter and 7.9% lower than in the 2nd quarter of the previous  year.

    The presented preliminary estimate of GDP for the 2nd quarter of 2020 includes effects of COVID-19 and the introduction of government measures to prevent the consequences of the epidemic.