PDF 19 MB - Grupa PSB

XVII. Summary
Report 2011
We present the thirteenth report on the activity of Grupa Polskie Składy Budowlane
S.A. For many years, we have been trying together with our shareholders and
partners, to develop the organisation with a basic purpose of creating an optimal
relationship between merchants, industrial and service environment, to satisfy the
construction needs of our fellow citizens.
I. General results of PSB Group
Last year, PSB Group network expanded
by 9 merchant companies (we accepted
18 entities but we have parted with 9
shareholders). At the end of 2011, PSB
Group was comprised of 296 members.
We have also opened 37 PSB-Mrówka
shops, expanding the retail distribution
channel to 96 branch outlets.
The cumulative revenue from construction
materials sales of the whole PSB Group in
2011 reached the limit of PLN 5.02 million
and it was higher by 7% compare to the
revenue reached in the preceding year.
However, it’s needed to be emphasized
that the cumulative revenue of the PSB
entities is higher by at least a dozen
percent, and this is due to other activities
carried out by our shareholders. It is
noteworthy that 66% of PSB members
have achieved an increment while 34%
encountered a decrease.
On the other hand, the data concerning
the improvement of situation in
warehouses in 2011 result, to a large
extent, from the effect of price increase of
many key construction materials. Almost
a permanent problem of our branch – the
cash flow from receivables – did not
significantly change in the last season, it
may be estimated that the amount of the
overdue receivables was maintained on
the level of 20% of the total receivables in
the warehouses.
On the contrary, the demand of the retail
customers was quite different – the
average revenue of PSB-Mrówka shops
increased again in the annual rate by 13%.
The revenue of the entire retail network
has increased by as much as 66% due to
the establishment of over 40 new
branches.
II. Changes in the Group's
Shareholders Structure
PSB Group S.A. started 2011 with the
initial capital of PLN 20.306 thousand.
During the year, the initial capital was
increased by PLN 1.350 thousand;
therefore on 31
st
December 2011 it was
estimated PLN 21.656 thousand. At the
end of 2011, the company’s shares were
possessed by 525 shareholders including:
1 foreign company, 11 joint stock
companies, 97 limited liability companies,
2 general partnerships, 2 cooperatives, 83
unlimited companies, 327 natural people.
According to another systematics, the
shareholders structure may be divided
into: trade companies – 69% of share in
capital and number of votes, manufacturers
(the Company’s suppliers) – 24% of
share in capital and number of votes, and
natural people without any business
activity – 7% of share in capital and
number of votes (fig. 6).
In fact, the business activity (trade and
marketing) within PSB Group was carried
out at the end of 2011 by 296 trade entities.
Jointly, they had 428 sales agencies
licensed by the Company, of the total
warehouse area of about 530 thousand m².
The cumulated revenue of these
companies in 2011 was estimated to PLN
5,6 million, including revenue from building
materials’ sales of PLN 5 milliard, the
remaining part is the revenue from
production, construction services and
other business activities. At the end of
2011, in the warehouses and Mrówka
shops about 9900 people were employed.
Changes of employment
In 2011, employment in the Company
increased by 9% compared to 2010.
This change was caused mainly by
the increase of employment in the
Production Department and Trade
Department as well as a dynamic
development of the Retail Sale Network
Department.
At the end of 2011 the company employed
269 people (116 women and 153 men).
Over a half of the employees (54%) had
a university degree. Additionally, 22
people raised their qualifications by
continuing education, among others, on
higher and post-graduate studies.
Social Responsibility
The company for many years has
remembered about its duties towards
the community it functions in. We have
a patronage over cultural events in
Świętokrzyskie province, supporting
financially or materially numerous
educational institutions, children’s homes,
hospitals, foundations, associations and
aggrieved families. The total expenditures
in 2011 on the above-mentioned purposes
exceeded PLN 300 thousand.
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