- GPW has reviewed its financial targets under the strategy #GPW2022
- The GPW Group’s targets for 2022 include revenue of PLN 470 million and EBITDA at PLN 250 million
- The Exchange Supervisory Board has issued a positive opinion on the payment of dividend at PLN 3.18 per share from the 2018 profit
- The GPW Management Board has determined a minimum dividend of PLN 2.4 per share from the profit of 2019 and decided to increase the dividend from the profits for 2022-2022 by at least PLN 0.1 per share annually
- The dividend pay-out ratio remains no less than 60% of the annual consolidated net profit of the GPW Group attributable to the shareholders of GPW adjusted for the share of profits of associates
As a part of the on-going review of strategic objectives, including the development of detailed implementation timelines and financial targets of the strategic initiatives, the GPW Management Board has decided to update the financial targets. As a result, the GPW Group’s nominal revenues will stand at PLN 470 million and EBITDA at PLN 250 million in 2022. ROE is expected to reach 19 percent in 2022 and C/I will be less than 50 percent after 2022.
“The strategy #GPW2022 is a continuous, long-term process subject to on-going monitoring and updates. It should be noted that we are implementing the strategy in a very dynamic and changing market environment, frequently driven by factors beyond our control. We want to actively react to all changes which impact the Polish market. This is why we have decided to update our strategic objectives for the next four years while retaining a dozen key strategic initiatives, including GPW Growth, Securities Lending & Borrowing, GPW Private Market, GPW Ventures, and the Food Platform”, said Marek Dietl, President of the GPW Management Board.
The implementation of the strategic initiatives will allow the GPW Group to strengthen its market position and diversify its sources of revenue in the coming years.
“Our plan focuses on dynamic development of the Group, which entails additional capital investments; however, the GPW Management Board has decided to continue a dividend policy which provides for the payment of at least 60 percent of the consolidated net profit attributable to the shareholders of GPW (adjusted for the share of profit of associates). To secure the interests of investors, the dividend will increase annually by at least PLN 0.1 per share after 2019 to 2022. The growing dividend will be accompanied by the implementation of strategic initiatives, which will in the coming years bolster the financial results of the Group. The defined clear terms of the dividend policy, including the amount of dividend per share, will provide our investors with steadily growing payments. We always stress that the shareholders are our priority, which is why we have taken these measures,” said Marek Dietl.
The Exchange Supervisory Board has issued a positive opinion on the distribution of the Company’s profit for 2018 at PLN 3.18 per share as proposed by the Exchange Management Board. The General Meeting has the exclusive competence to decide about profit distributions, including dividend payments.
The update of the strategy #GPW2022 published on 27 June 2018 covers more than 20 initiatives. Several selected strategic projects will be launched in 2019, including GPW Growth (a comprehensive educational programme supporting the development of small and medium-sized companies) and GPW Tech (the development of a stand-alone technology company specialising in IT solutions for the capital market).