Wroclaw company Hasco-Lek was among those distinguished by Forbes magazine as a Diamond. In the near future, this Polish Champion participant intends to invest 50 million zloty in the expansion of its production plant.
At the end of January we met the winners of this year’s Forbes Diamonds. In the province of Lower Silesia this honorable title was achieved by 145 companies. Among the businesses honored there was also a participant of the Polish Champion program – Wroclaw Pharmaceutical Manufacturing Company Hasco-Lek.
In the category of companies with revenues ranging from 50 to 250 million zloty Hasco-Lek was ranked 15th in our region, which gave it 221st position nationwide. In 2013, the Wroclaw company recorded more than PLN 247 million revenue in sales and generated PLN 25 million net profit. In 2011 to 2013, the value of the company increased by 24,99 percent.
How were the Diamonds selected?
The Forbes magazine ranking is based on reports submitted by economic operators in the National Court Register in 2014.
In this way a database of businesses was created and Bisnode Polish information agency was able to award a positive credibility rating to those companies that are profitable, have a high current cash flow and are not in arrears with payments.
“Companies that meet all of these conditions must also demonstrate a positive financial result and the value of equity” explain the authors of the ranking.
Diamonds on the list included companies that have achieved the highest average annual increase in value. Analysts and experts valued companies using the Swiss method.
“It combines the methods of property and income. The first does not measure the potential of employees and its know-how. A valuation based on income does not include sensitivity to seasonal or cyclical changes that affect its level. In addition, companies that are focused on development and invest a lot, may show small gains” explain the authors of the report.
They add that the combination of both methods compensates for these deficiencies. Know-how, if it is valuable, affects profitability or – in the case of investing companies – an increase in wealth in future years.
Hasco-Lek is not going to rest on its laurels, however, and is already planning a new investment.
At the February session of the City Council of Wroclaw, councilors agreed to extend the borders of the Legnica Special Economic Zone to include property belonging to the company in Lower Silesia. It includes six parcels of land with a total area of over 2,5 hectares on Żmigrodzka Street.
Hasco-Lek wants to make an innovative investment that will contribute to the competitiveness of the Wroclaw economy and the creation of new jobs. It will consist in expanding the company’s production plant in two locations: on 242 E and B Żmigrodzka Street in Wroclaw, as well as 9 E. Kwiatkowski Street in Siechnice.
“The project involves the creation of new production buildings, upgrading part of the existing infrastructure and the purchase and installation of new machinery. With the planned work it will be possible to begin production of new items in technology that has not yet been applied in Poland, something confirmed by two independent research units” assure the authors of the plans.
The cost of the investment is over 50 million zloty. The company is also planning to increase employment to 30 new jobs.