NowyStyl_Raport CSR_2022-2023_EN-www

GRI 2-2 GRI 2-6 GRI 201-1 The main premise of Nowy Styl’s business strategy is to combine organic growth with acquisitions of companies whose portfolios add to our offering and allow us to expand our operations into new sectors and markets. By organic growth, we primarily mean strengthening existing commer- cial structures in each country, further improving customer relationships, building a global image, making choices about focusing more strength and resources in key markets and in leading segments, investing in areas of production or logistics, developing new proprietary products, and seeking partners with whom to achieve competitive advantages. In recent years, our organisation’s strategy has increas- ingly included stakeholder expectations. Setting new goals and making strategic decisions is based on the identifica- tion and analysis of product-focused areas important for Nowy Styl, as updated every two years. 1.3 Business strategy Our brands The largest and dominant brand with a comprehensive portfolio of products and services for office spaces and public utilities. Durable seating and audi- torium solutions for sports facilities, cinemas, theatres, concert and lecture halls. A wide selection of sturdy and ergonomic high-quality office and conference chairs at affordable prices. A local traditional Swiss brand that offers high-quality chairs and office furniture. Excellent quality and design of chairs and furniture, as well as specialised solutions for the healthcare sector and passenger terminals. Capital Group sales revenue 2022-2023 (net EUR million) 343 309 2023 2022 The years 2022 and 2023 were a time of lockdowns, Russia’s invasion of Ukraine and high inflation, which affected almost every industry, including the office furniture segment, so after a temporary increase, 2023 saw a decline in sales revenue. Financial results of the Nowy Styl sp. z o.o. capital group. (PLN million) All figures are in PLN million 2022 2023 Sales revenue 1 610 1 400 Operating expenses excluding salaries and employee benefits 1 027 897 Salaries and employee benefits 442 429 Payments to investors 24 0 17