According to Kety’s CFO, Adam Piela, preview of results for 1Q06 should be reported today. The company expects year-on-year improvement in volumes due to better market demand. At the same time positive impact of Aluprof consolidation from 1 February is not expected to offset negative impacted caused by the fire in the packaging division. Adam Piela stated that in 1Q06 the company was able to partially transfer increase in raw material prices to their customers.
As the packaghing business was seriously affected by the fire, we are surprised by the statement of year-on-year growth in volumes, with the exception of extruded products business. We expect Kety to post substantial net loss for 1Q06 caused by extraordinary loss not fully compensated by the insurance claim.