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

CR 53/2017 Significant agreement

Significant agreement       

                                                                                                                                       
Current report no: 53/2017

Date: 21 December 2017

Time: 1:52 p.m.

  

The Management Board of LPP SA informs that, today, i.e. on 21 December 2017, LPP SA and Bank Pekao SA concluded an investment credit facility agreement for the amount of PLN 138.5 mln, allocated for the refinancing of the construction of the Company’s two office buildings in Gda?sk, at ?akowa street.

The utilisation period has been set until 31 March 2020, with a repayment date being 31 March 2025.

The said credit facility has been secured with the following:

– contractual mortgage,

– power of attorney covering bank accounts kept in the Bank,

– statement on submission to enforcement in the form of a notarial deed,

– assignment of rights under a real estate insurance policy in the project construction and operation period.

CR 53 2017 – Significant agreement

CR 52/2017 Information on the transaction on the issuer’s shares

Information on the transaction on the issuer’s shares

                                                                                  
Current Report No.: 52/2017

Date: 01.12.2017; 19:29


The Management Board of LPP SA (hereinafter the Issuer, the Company) announces that on December 01, 2017, they received the notification of the transaction consisting in the disposal of shares of LPP SA by Mrs Alicja Mili?ska performing managerial responsibilities in the Company as The Chief Accountant.

The Company attaches the notification received to this report.

CR 52 2017 – Information on the transaction on the issuer’s shares

CR 52 2017 – Attachment Notification of transaction referred to in Article 19 Section 1 of MAR Regulation

CR 51/2017 Revenues from sales generated by LPP SA Capital Group in November 2017

Revenues from sales generated by LPP SA Capital Group in November 2017             

                                                                               
Current report no.: 51/2017

Date: 01.12.2017, 13:20


The Management Board of LPP SA hereby informs that consolidated revenues from sales of LPP SA Capital Group generated in November 2017 totalled about PLN 602 million and were higher about 24% in comparison with the revenues generated in November 2016.

In the period between January and November 2017 consolidated revenues from sales totalled PLN 6 139 million and were higher about 17% as compared with the revenues generated in the corresponding period in the previous year.

Estimated gross margin on sales would be 59% and was lower to gross margin on sales achieved in November in the previous year about 1 percentage point.

The E-commerce revenues from sales in November 2017 totaled about PLN 54.8 mln and were higher about 112% in comparison November 2016. In the period January – November 2017 the E-Commerce revenues from sales totaled about 304 mln PLN and were higher by 107% year over year.

The commercial space of stores was about 968 thousand square meters at the end of November 2017, and was about 6% higher as compared with the commercial space of stores at the end of November 2016.

CR 51 2017 – Revenues from sales generated by LPP SA Capital Group in November 2017

CR 50/2017 Selected preliminary consolidated financial data of LPP Capital Group for the third quarter of 2017

Current report no.: 50/2017

Date: 03.11.2017; 17:50

 

Selected preliminary consolidated financial data of LPP Capital Group for the third quarter of 2017         

                                                                       

The Management Board of LPP SA hereby announces selected preliminary consolidated financial data of LPP SA Capital Group:

1)    for the third quarter of 2017:

Sales revenues: PLN 1,813 million,

Gross profit on sales: PLN 889 million,

SG&A costs: PLN 775 million,

Operating profit (EBIT): PLN 103 million,

Net profit: PLN 85 million

 

2)    for period from 01.01.2017 till 30.09.2017:

Sales revenues: PLN 4,881 million,

Gross profit on sales: PLN 2,474 million,

SG&A costs: PLN 2,238 million,

Operating profit (EBIT): PLN 202 million,

Net profit: PLN 141 million

 

Selected balance sheet data as at 30.09.2017:

Inventories: PLN 1,637 million (approx. PLN 1,759/m2)

Loan liabilities: PLN 267 million

Cash: PLN 256 million

 

The increase in sales revenue in the third quarter of 2017 was 22% compared with the same period last year, for 9 months of 2017: 17%.

Sales in comparable stores (LFL) in local currencies in the third quarter of 2017 increased by 15.2%, and cumulatively for 9 months of 2017- increase by 8.8%.

Trade margin in the third quarter was 49.0% and was higher by 2.0 pp year-on-year, and cumulatively for 9 months of 2017: 50,7% – increase by 2.9 pp year-on-year.

Operating profit for the third quarter of 2017 amounted to PLN 103 million (PLN 5 million previous year),

and cumulatively for 9 months of 2017 amounted to PLN 202 million (PLN 27 million previous year).

The balance of financial income and expenses in the third quarter of 2017 and cumulatively for 9 months of 2017 was positive and amounted to respectively: PLN 11 million and PLN 10 million.

In the third quarter of 2017 LPP Capital Group recorded a net profit of PLN 85 million, for period from 01.01.2017 till 30.09.2017 net profit of PLN 141 million.

 

The calculations of these data have been made according to the current knowledge of the Management Board.

Please also note that a detailed financial report for third quarter will be published on 21st November 2017.

CR 50 2017 – Selected preliminary consolidated financial data of LPP Capital Group for the third quarter of 2017

CR 49/ 2017 Revenues from sales generated by LPP SA Capital Group in October 2017

Revenues from sales generated by LPP SA Capital Group in October 2017    

                                                                                
Current report no.: 49/2017

Date: 02.11.2017, 10:49


The Management Board of LPP SA hereby informs that consolidated revenues from sales of LPP SA Capital Group generated in October 2017 totalled about PLN 657 million and were higher about 7% in comparison with the revenues generated in October 2016.

In the period between January and October 2017 consolidated revenues from sales totalled PLN 5 544 million and were higher about 16% as compared with the revenues generated in the corresponding period in the previous year.

Estimated gross margin on sales would be 61% and was higher to gross margin on sales achieved in October in the previous year about 1 percentage point.

The E-commerce revenues from sales in October 2017 totaled about PLN 35.7 mln and were higher about 67% in comparison October 2016. In the period January – October 2017 the E-Commerce revenues from sales totaled about 249 mln PLN and were higher by 106% year over year.

The commercial space of stores was about 957 thousand square meters at the end of October 2017, and was about 6% higher as compared with the commercial space of stores at the end of October 2016.

CR 49 2017 – Revenues from sales generated by LPP SA Capital Group in October 2017

CR 48/2017 Annex to a significant agreement

Annex to a significant agreement                                                                                                                                                                                                                            

Current report no: 48/2017

Date: 30 October 2017, 12:43 pm

  

The Management Board of LPP SA informs that, today, i.e. 30 October 2017, LPP SA and Raiffeisen Bank Polska SA have signed an annex to the to the credit limit agreement (multi-option credit line) dated 12 July 2002.

Upon the Company’s application, the total limit for utilising specific products has been decreased from PLN 280 mln to PLN 180 mln, and the period for utilising specific products has been prolonged as follows:

1)   overdraft – the agreement has been prolonged by 30 November 2018,

2)   revolving credit facility – the agreement has been prolonged by 29 November 2018,

3)   the limit for mobilising the guarantees for LPP SA and its subsidiaries – the agreement has been prolonged by 30 November 2020,

4)  the limit for opening letters of credit – the agreement has been prolonged by 29 November 2019.

The lines have been secured with a power of attorney to access the bank account of LPP SA and a blank promissory note.

CR 48 2017 – Annex to a significant agreement