About Wojciech Kowalczyk
Wojciech Kowalczyk, CEO of Boryszew SA, has described the company's recent performance as stable despite a difficult macroeconomic environment. In April 2025, he cited a slowdown in Western Europe, particularly in Germany, weakness in the automotive sector, and geopolitical risks as key factors affecting the business. He stated that the company expects improvements in 2025, including a roughly 50% increase in EBIT from the automotive segment and a more than 40 million złoty boost from cost-cutting measures. Kowalczyk also noted that the company is in advanced talks for new contracts and plans to update its strategy in May 2025.
In earlier appearances, Kowalczyk characterized 2023 results as "stable" and "good" given the challenging conditions, and he highlighted the company's diversification as a competitive advantage. He has pointed to a significant recovery in electric vehicle production expected by 2026, and has discussed the company's focus on expanding into energy transmission, circular economy, and energy storage segments. Kowalczyk has also noted that the company manages energy and gas price risks through a dedicated team and hedging, while acknowledging that supply risks remain dependent on government policy.
Source: AI-verified profile updated from Wojciech Kowalczyk's recent appearances.
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Transcript (2 segments)
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Narrator0:00
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Wojciech Kowalczyk0:24
The third quarter EBITDA was about 49 million euros without one-off events, with a net loss of about 20 million. Given the macroeconomic environment, we see these results as stable and promising. The steel market is deteriorating due to Chinese competition and a slowdown in Germany, our main market. Negative results come from steel assets. The construction sector slowdown hit our rolling mill in Dziedzice. We are responding by optimizing steel assets and focusing on cost cuts, which are already showing effects. Q4 and early 2025 should be better. In automotive, we are maintaining our European market share of about 25% in air conditioning pipes and expanding in Asia, especially China and India, where we have three factories. We aim to triple our Asian market share from below 1% within 2-3 years. We also see opportunities in South America, particularly Brazil, and are building relationships with Chinese automotive players expanding into Europe and South America. We have reduced capex in automotive due to delays in the electric vehicle revolution, but we continue investing in high-margin areas. Our crown jewel, NPA Kabina, had EBITDA of about 78 million last year; we aim to maintain that. We have become a strategic supplier for a major Western European operator. In the energy sector, we are entering new production areas (condenser tubes). We are building a circular economy segment, with environmental permits for waste incineration plants in Torun and Konin, expected to start construction in late 2025/early 2026. We are also developing energy storage. Regarding trade wars, we are prepared with factories in China for Asian markets and a new nomination in India. We expect Q3 to be the low point and improvement in coming quarters, with significant improvement in 2025 after cost optimization, including closing a galvanizing plant and tool shop in Germany. Macroeconomic environment remains challenging, but we see long-term growth in energy transmission and special production. For automotive, 2026 should see a rebound in electric car production.
