Changes in the management of the Polish household appliance giant. Who replaced CEO Rutkowski?

• The general meeting of shareholders appointed a new management board of the Amica Group , with Robert Stobiński as president.
• The biggest challenge for the company will be to halt the downward trend in sales revenues.
• The "Back to Profitability" strategy adopted several months ago is intended to help meet new challenges.

During the last general meeting, the shareholders of the Amica Group made changes to the company's management board. After many years, Jacek Rutkowski resigned from the position of president and will now advise the management board on strategic matters.

Robert Stobiński has become the new president of the Amica Group

Robert Stobiński was appointed president, who will also supervise the factory in Wronki, as well as the research and development department, product management, marketing, internal audits and strategic projects.

Maja Rutkowska as vice president will be responsible for, among others, HR, health and safety, ESG, certifications, ecology and corporate communications.

Vice President Paweł Biel now oversees the IT department, key business applications, and the quality department. Vice President Michał Rakowski, in turn, has the following departments in his scope: controlling, accounting, financial settlements, operational planning, and logistics.

- All of us on the board have been associated with the Amica Group for many years, and we also co-created the current "Back to Profitability" strategy. The continuity of management processes is additionally supported by the possibility of using the experience and knowledge of Mr. Jacek Rutkowski, who remains involved in Amica's affairs - said the company's president, Robert Stobiński, quoted in the release.

Robert Stobiński added - Our goals remain unchanged - they include further increase in the broadly understood quality and satisfaction of users of our products, restoration of positive sales trends even in the current, unfavorable environment, increase in the utilization of production capacity in the heating equipment factory, increase in realized margins and development of talents, because after all it is people who create the strength of the company -.

As part of the adopted strategy, presented in September 2024, the Amica Group intends to achieve sales growth of over 7% annually until 2030, with an expected EBITDA margin of 5% in 2027 and 7% in 2030+.

The goal is also to increase the return on net assets to 14% in 2027 and exceed 17% in 2030+. The net debt to EBITDA ratio is to be maintained below 2, and the gross margin on product sales in 2027 to 25% and in subsequent years to 28%.

Amica intends to focus on sales in European markets

The company intends to focus on sales in European countries, and the planned sales development in individual markets will be supported by marketing activities.

In April 2024, the special purpose vehicle Amica Energia was registered, which focuses mainly on developing energy production from photovoltaic panels.

Over the next two years, it intends to acquire land on lease and obtain the necessary permits for a photovoltaic farm with a capacity of at least 30 MW.

The company's main shareholder is Jacek Rutkowski and an associated entity (34.93% of shares and 39.94% of votes). Amica has been listed on the stock exchange since September 1997.