April 2023 at TIM SA: broad customer base a reason for cautious optimism
Preliminary estimates show that the revenue of TIM SA from net sales of goods and services directly related to the sales of goods amounted to more than PLN 101.4 million in April 2023 (-12,3% year-on-year).
Online sales made independently by customers brought in nearly PLN 70.2 million (-12.2 million) in April 2023, while since the beginning of this year they have brought in PLN 317 million (-11.2% year-on-year). The sum of estimated total sales revenue for January-April 2023 was PLN 467 million (-8.3% year-on-year).
“The month with the smallest number of working days in 2023 is behind us, even one less than the number of working days in April 2022. Above all, however, this year’s April, like March, is burdened by a high base from last year, which is mainly the result of Russia’s full-scale invasion of Ukraine and disrupted supply chains” notes Krzysztof Folta, CEO of TIM SA.
Sales per working day, the indicator that allows the most meaningful comparison between months, amounted in April 2023 to PLN 5.34 million (-7.6% year-on-year). For highly profitable products, the year-on-year decrease in revenue from their sales was only 2% in April 2023, while their share in the revenue increased from 61% in April 2022 to 65% in April 2023.
“What’s very important, we served 19,500 customers in April 2023, 12% more than in the same period in 2022. There was also an increase – of 5.4% year-on-year – in the number of loyal customers, i.e. those making purchases of at least PLN 1,500 net in at least six of the last twelve months. Such a broad customer base gives us reason for cautious optimism, however, the situation in the construction industry also affects our business,” adds Krzysztof Folta.