Forte Furniture Factory, also known as Fabryki Mebli FORTE S.A., has demonstrated a notable financial turnaround during the challenging fiscal year of 2024. For the nine-month period from April 1 to December 31, 2024, the company reported net sales revenue of PLN 772.5 million, an increase from PLN 757.6 million in the same period of the previous year.
Photo: Forte.
Operating profit reached PLN 35.7 million, a significant improvement compared to the operating loss of PLN 3.9 million recorded in 2023. Profit before taxes was PLN 27.1 million, contrasting with a loss of PLN 11.2 million in the prior year. Consequently, net profit attributable to shareholders amounted to PLN 21.5 million, a substantial recovery from the loss of PLN 69.3 million reported a year earlier.
This positive shift is largely attributed to the company's effective cost optimisation strategies and a successful hedging approach that mitigated the impact of currency fluctuations. The hedging strategy alone contributed an additional PLN 22.5 million to the financial results in the third quarter, totalling a positive impact of PLN 42.7 million over the nine-month period.
Additionally, Forte's decision to terminate its joint venture in India by selling its 50% stake in Forte Furniture Products India Private Limited is expected to positively affect the company's financial results, contributing approximately PLN 5 million to the bottom line.
These strategic measures have collectively enabled Forte Furniture Factory to navigate industry challenges effectively, resulting in improved profitability and financial stability.
Source: www.biznes.meble.pl