Emperia launches motivational scheme

2010-03-09

Emperia Holding, one of the largest retail and distribution firms in Poland, has launched a motivational programme for its managers, according to Parkiet. In accordance with the scheme, in 2010 the rate of return on shares cannot be lower than the change in the WIG, Warsaw Stock Exchange, index. Secondly, net earnings per share will be PLN 5.62 (€1.4) in 2010 and PLN 6.75 (€1.7) in 2011, which means that a net profit is forecast by Emperia's board at PLN 85m (€21.3m) in 2010 and PLN 102m (€50.5m) in 2011.
However, such a significant increase in net profit in 2010 is relatively unlikely, according to Tomasz Manowiec, of the BM BGZ brokerage house, quoted by the newspaper. Mr. Manowiec estimates that Emperia will make a net profit of PLN 70m (€17.5m) in 2010 and PLN 80m (€20m) in 2011 instead.
In addition, the group’s financial forecast of sales revenues of PLN 6bn (€1.5bn) in 2010 also seems ambitious if the company is planning to develop by means of organic growth only. With acquisitions, however, the group could achieve such an improvement in sales.
In 2010, Emperia intends to invest PLN 200m (€50m) in the expansion of its retail chains. In 2009 it spent PLN 160m (€40m) on development.