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MarketScreener Homepage  >  Equities  >  Warsaw Stock Exchange  >  Powszechny Zaklad Ubezpieczen SA    PZU   PLPZU0000011

POWSZECHNY ZAKLAD UBEZPIECZEN SA

(PZU)
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Polish refiner PKN to buy 65% share in newspaper distributor Ruch

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06/02/2020 | 05:33am EDT
A logo of PKN Orlen, Poland's top oil refiner, is pictured at their petrol station in Warsaw, Poland

PKN Orlen has agreed to buy a 65% stake in troubled newspaper distributor Ruch as part of a plan to expand in the retail segment, Poland's biggest oil refiner said on Tuesday.

The takeover of Ruch by state-run PKN is in line with a wider policy by the ruling Law and Justice party (PiS), which aims to take more control over Poland's main assets, including the media.

The 100-year old Ruch, which used to be state-owned, is a well known brand in Poland. It has struggled to survive as newspaper circulation has been hit by the shift to online news.

Under the investment agreement the other shareholders in Ruch will include state-run insurer PZU and Alior Bank, which is also Ruch's largest debt holder.

The restructuring plan for Ruch assumes that it would focus more on fast-moving consumer goods and package deliveries, PKN also said.

(Reporting by Agnieszka Barteczko; editing by Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
ALIOR BANK S.A. -0.30% 16.68 End-of-day quote.-41.84%
JASON CO., LTD. 3.45% 689 End-of-day quote.89.29%
LONDON BRENT OIL -0.85% 42.874638 Delayed Quote.-35.88%
POLSKI KONCERN NAFTOWY ORLEN SPÓLKA AKCYJNA 0.36% 61.42 End-of-day quote.-28.43%
POWSZECHNY ZAKLAD UBEZPIECZEN SA -0.28% 28.75 End-of-day quote.-28.18%
SHIFT, INC. 13.90% 12780 End-of-day quote.60.15%
WTI 2.42% 40.565 Delayed Quote.-35.40%
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Financials
Sales 2020 24 181 M 6 126 M 6 126 M
Net income 2020 1 992 M 505 M 505 M
Net Debt 2020 - - -
P/E ratio 2020 10,8x
Yield 2020 8,23%
Capitalization 24 820 M 6 284 M 6 288 M
EV / Sales 2019
Capi. / Sales 2020 1,03x
Nbr of Employees 41 472
Free-Float 65,8%
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Number of Analysts 8
Average target price 39,52 PLN
Last Close Price 28,75 PLN
Spread / Highest target 73,6%
Spread / Average Target 37,4%
Spread / Lowest Target 7,83%
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NameTitle
Beata Kozlowska-Chyla Chief Executive Officer
Maciej Lopinski Chairman-Supervisory Board
Alojzy Zbigniew Nowak Secretary, Member-Supervisory Board
Maciej Zaborowski Member-Supervisory Board
Marcin Chludzinski Member-Supervisory Board
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