Uniwheels shares to join WSE small-cap index
According to a Warsaw Stock Exchange Management Board resolution of 13 August 2015, shares in Uniwheels AG will be included in the sWIG80 index following the trading session of 18 September 2015 as a result of quarterly adjustment. The changes will become effective from 21 September 2015.
Inclusion in the small-cap sWIG80 index comes only four months after the company’s successful IPO and debut on the Warsaw Stock Exchange. “We are excited about the fact that Uniwheels AG shares will be included in sWIG80 index in such a short period of time after the debut on WSE,” said Ralf Schmid, chief executive officer of Uniwheels AG. “Such quick admittance to the sWIG80 index is a proof that our company is attractive in the eyes of investors active in Warsaw. We are hoping that sWIG80 inclusion will generate even more investor interest and improve our visibility on the WSE main market as well as internationally.”
Dr Karsten Obenaus, chief financial officer at Uniwheels AG, opines that the wheel manufacturer may not remain a small-cap company for very long: “Taking into consideration our excellent sales and financial performance, market capitalisation, size of our free float and decent daily turnover, we think that promotion to WSE mid-cap index mWIG40 could be possible even during the upcoming indices adjustments.”
Uniwheels AG’s market capitalisation as of 14 September 2015 has reached PLN 1.5 billion (£261 million or €357 million). Free float is 38.7 per cent. The company’s revenues in the first half of the year amounted to €217 million (up 26.8 per cent year-on-year), with EBITDA of €27.9 million (up 30.2 per cent year-on-year) and net profit of €19.3 million (up 67 per cent year-on-year). Uniwheels debuted on the Warsaw Stock Exchange in May 2015, and the company grossed approximately €62.7 million from the issue of new shares. Proceeds from the IPO are being used to finance the construction of a new production plant in Stalowa Wola, Poland, which will allow Uniwheels to increase its overall production capacity by some 2 million wheels. Capacity should reach almost 10 million pieces a year by 2018.