CR 04/2018 Annex to a significant agreement

Annex to a significant agreement                                                                                                                                                                                                                            

Current report no: 04/2018

Date: 30 January 2018

Time: 15:20 pm


The Management Board of LPP SA informs that, today, i.e. 30 January 2018, LPP SA and BG? BNP Paribas Spó?ka Akcyjna have signed an annex to the to the credit limit agreement (multi-option credit line) dated 14 April 2004.

Upon the Company’s application, the total limit for utilising specific products (revolving credit facility, letters of credit, guarantees) has been decreased from PLN 330 mln to PLN 280 mln, and the period for utilising specific products has been prolonged till 30 January 2019.

Other terms and conditions of the agreement remained unchanged.

The line has been secured with blank promissory note and declaration on submission to voluntary enforcement in a form of notarial deed.

CR 04 2018 – Annex to a significant agreement

CR 03/2018 Annex to a significant agreement

Annex to a significant agreement                                                                                                                                                                                                                            

Current report no: 03/2018

Date: 10 January 2018

Time: 18:26 pm


The Management Board of LPP SA informs that, today, i.e. 10 January 2018, LPP SA and Bank Handlowy w Warszawie SA have signed an annex to the to the credit limit agreement (multi-option credit line) dated 13 December 2011.

Upon the Company’s application, the total limit for utilising specific products (revolving credit facility, letters of credit, guarantees) has been decreased from PLN 175 mln to PLN 150 mln, and the period for utilising specific products has been prolonged till 10 January 2020.

Other terms and conditions of the agreement remained unchanged.

The line has been secured with declaration on submission to enforcement and blank promissory note.

CR 03 2018 – Annex to a significant agreement

CR 02/2018 Dates of publication of periodic reports in 2018

Dates of publication of periodic reports in 2018                                           

Current report no.: 02/2018

Date: 04.01.2018; 08:01


Basing on & 103.1 of the Ordinance of the Minister of Finance on current and periodical information provided by issuers of securities dated 19 February 2009 (…) the Management Board of LPP SA informs about the filing deadlines for periodic reports in 2018:

1. Annual report and consolidated annual report for 2017: 14.03.2018

2. Semi-annual report for H1 2018: 05.09.2018

3. Quarterly reports

Extended consolidated report for Q1 2018: 17.05.2018

Extended consolidated report for Q3 2018: 20.11.2018

Furthermore, basing on &83 of the Ordinance of the Minister of Finance on current and periodical information provided by issuers of securities dated 19 February 2009 (…) the Management Board of LPP SA informs that individual quarterly reports and individual semi-annual report for H1 won’t be published. LPP SA will be publishing consolidated quarterly reports including quarter financial data and consolidated semi-annual report including abbreviated semi-annual financial report.

CR 02 2018 – Dates of publication of periodic reports in 2018

CR 01/2018 Revenues from sales generated by LPP SA Capital Group in December 2017

Revenues from sales generated by LPP SA Capital Group in December 2017                                                                                            
Current report no.: 01/2018

Date: 02.01.2018, 16:34


The Management Board of LPP SA hereby informs that consolidated revenues from sales of LPP SA Capital Group generated in December 2017 totaled about PLN 893 million and were higher about 18% in comparison with the revenues generated in December 2016.

In the period between January and December 2017 consolidated revenue from sales totaled about PLN 7 033 mln and were higher about 17% as compared with the revenue generated in 2016.

Estimated gross margin on sales would be 56% and was higher about 20% in comparison with the gross margin on sales achieved in December in the previous year.

The E-commerce revenues from sales in December 2017 totaled about PLN 61 mln and were higher about 135% in comparison to December 2016. In the period January – December 2017 the e-commerce revenues from sales totaled about 365 mln PLN and were higher by 111% year over year.

The commercial area at the end of December 2017 was about 1 001 thousand of square meters and was about 9% higher as compared to the end of December 2016.

At the same time, the Company informs that, having modified its previous information policy, as of January 2018, it will no longer publish monthly information on the level of the sales made and the margin applied.

In monthly periods, the sales may be affected by numerous disturbances which are unexpected and unique in nature, caused by, for example, variable weather conditions, and, therefore, in the Company’s opinion, the reporting of sales results in a longer time span will prove much more reliable and useful.

The said decision has been made also following the analysis of reporting policies in the textile industry, with due consideration of the operation of European entities competitive to LPP (Inditex, H&M, Marks & Spencer, Next, Adidas, LVMH, Hugo Boss), in which sales results are published on at least quarterly or half-yearly basis.

In consideration of the above, as of 2018, the basic period for drawing up and publishing current reports on periodic sales results of LPP will be a quarterly period. 

CR 01 2018 – Revenues from sales generated by LPP SA Capital Group in December 2017