The Letter of the Chief Executive Officer

Consequently, the decline in demand translated into a lesser sales volume across the entire market. In these difficult circumstances, the Śnieżka Group generated sales revenues of PLN 798.4 million, which represents a 6.9% decrease compared to the previous year. Despite the above hurdles, we increased our gross sales profitability compared to 2023. This was possible owing to several key factors: increased efficiency of production and logistics processes, effective cost control and a well-thought-out pricing strategy, as well as the increase in the share of premium products in the structure of our product range. These factors were additionally supported by the strengthening of PLN against EUR.

Since our debut on the Warsaw Stock Exchange, we have been continuously sharing our profits with our shareholders. In May 2024, we paid nearly PLN 40 million in dividends, which accounted for PLN 3.17 per share. The total sum of dividends paid since the stock exchange listing currently amounts to PLN 544.2 million.

Śnieżka consistently implements the sustainable development goals included in the Sustainable Development Strategy by reporting ESG data in management reports. This year’s report fully complies with the requirements of the CSRD Directive for the first time, and its preparation was summarised by the first full data validation. The Sustainability Reporting presented therein is the result of several months of double materiality assessment, including detailed value chain identification, stakeholder dialogue and scenario analyses. This allowed us to identify key risks and opportunities and focus on priority areas that correspond to the Group’s business profile.

The project to expand our production and logistics capacities undertaken in recent years has been successfully implemented, the Group has invested a lot in the above and is fully prepared for boosting market conditions. Accordingly, our investment strategy currently concentrates on maintaining and further improving existing operational capabilities. Our competitive advantage is built on strong brands, a well-tailored product portfolio and modern production and logistics processes that enable us to respond swiftly and effectively to consumer needs.

Thank you for your trust and support – they are an invaluable motivation for us to for further development and consistent implementation of our strategy. We are confident that by working hand in hand we will continue to build value for our shareholders, employees and the communities in which we operate.