PBG management has announced guidance for 2006, calling for extremely strong results. The top-line is expected to come in at PLN 702m, implying 66.4% y/y growth. Furthermore, EBIT is forecast to rise to PLN 77.7m, implying 88.6% y/y growth. The expected growth of net income is lower than EBIT with a 42.2% y/y dynamic, pointing to a bottom-line of PLN 47.3m in 2006. Despite the high growth rate, the figures do not include the impact of PBG increasing its stake in Hydrobudowa. We believe the news could have a positive impact on the stock price and contribute to the success of PBG's upcoming SPO success.