Spondeo

Are you curious about what was happening on the Polish market this month? Did you hear the €100m investment in decarbonisation in Poland by Fortum? For this and more, check our latest newsletter! Here’s what’s inside: 💸 Poland’s Economy: Key figures, forecasts, and an alert on exports. 🇵🇱 Polish Business Highlights: Updates on InPost, Transition Technologies MS, Euvic, Cinkciarz, Biedronka, Żabka Polska, and more. 💵 International Investments: SK hynix, Amazon, Auchan, AliExpress, Otto Group, Mr DIY.. ⚡ Energy Sector: High energy prices, Orlen's projects, Fortum investing 100m€.. 🏠 Construction: Apartment prices & construction overviews Finnish Companies in Poland: Finnlines, Fortum, Solwers Plc, Pinja Group, iLOQ, Europress, Open Ocean 🖼  Events & Culture: ReBuild Ukraine, New Modern Art Museum and much more... Read the full update... if you dare! Happy Halloween! 🎃

🌍 Meet us at ReBuild Ukraine Construction & energy 2024 – 4th international exhibition & conference: a key event for the future reconstruction of Ukraine! 🇺🇦 📅 When: 13-14 November 2024  📍 Where: in Warsaw  🇫🇮 Finnish companies in the exhibitors' list: Over 35 🤝 Tuomas Asunmaa and Weronika Gidel-Asunmaa will be there, in Warsaw 12-15th November ready to meet anytime, so feel free to contact! A unique conference and exhibition dedicated to the reconstruction of Ukraine. It is an opportunity to learn about the latest projects and make valuable contacts with construction industry leaders and investors. 💡 In the program you can find:  - Intergovernmental Press Briefing - Official Opening - European Union - Ukraine Investment Conference Towards Recovery and Closer Integration - Sustainable Recovery and Investment Support: Opportunities for Ukraine’ s Energy Sector Rebuild - Recovery Construction Forum 3.0  - Water Solar Recovery Forum - Communities Marathon  - Aid & Development Meetup - Attracting Investments to The Processes of Ukraine’s Economic and Infrastructure Recovery Panel Discussion  - Green Reconstruction of Ukraine’s Communities: Key Lessons from 2023-2024 Recovery Projects - Rebuild Ukraine Matchmaking Platform 🔗 More info and registration: https://lnkd.in/dwHU2Hzg

🏅🇵🇱 Olympic Games in Poland 2040 - is it even possible? The Minister of Sport and Tourism, Sławomir Nitras, during a meeting with the media, presented the idea of organising the summer Olympic Games in Poland as a project to bring a “leap in civilisation.” Various dates have been mentioned in the context of the organisation of the Olympic Games in Poland: 2036 or 2040 and 2044, among others. However, there is now talk of one date - 2040. According to the minister, the event should be held throughout the country, with an emphasis on Warsaw, and investments associated with the games could contribute to the development of infrastructure, communications and environmental protection, as was the case with Euro 2012. At the moment, it is uncertain whether Poland will host the Games 2040, as the International Olympic Committee has not yet announced a deadline for accepting official applications from candidates. 💡 Are the Olympic Games in Poland realistic at all? Nitras stressed that the organisation of the Olympics in Poland is feasible, comparing it to the success of Euro 2012. The strategy for preparing for the Games is called “Strategy for the Development of Sports - IO Warsaw 2040,” and it is the first step in the process of organising the IO and includes not only the construction of appropriate infrastructure, but also the promotion of active lifestyles and the development of society. The minister also noted the need to improve the image of Polish sports, which is dominated by football and noted that the largest financial reserves for the organization of the Games could come from the private sector. 🏋️♀️ The benefits of hosting the Olympic Games: - Promoting the country internationally and building its image. - Development of tourism and investment, which boosts the local economy. - Revitalisation of cities, especially neglected neighbourhoods, and improvement of urban infrastructure. - Increasing interest in sports and healthy lifestyles among residents. - Consolidation of society and increased national pride. 🇵🇱 Poland in sports: Poland and Ukraine hosted Euro 2012, in addition, for the first time in history, Poland will host the World Champs in Athletics in Chorzow in 2027. As for this year's Olympic Games in Paris, Poland won ten medals. We won: silver in canoeing by Klaudia Zwolińska, bronze medals for rowers, rowers and Iga Świątek in tennis. Aleksandra Mirosław won gold in time-climbing, and Aleksandra Kałucka won bronze. Natalia Kaczmarek won bronze in the 400 meters. Silver also went to Polish volleyball player and fighter Julia Szeremeta, and the last medal, also silver, was won by Daria Pikulik in track cycling. Interestingly, the 1940 Olympic Games were supposed to be held in Helsinki, but due to the war it did not happen. ❓Is Poland ready to take on the challenge of hosting the 2040 Olympic Games? 🔗 Link to sources in comment. This time we asked AI to do the graphics for us, and see the results.

🔻 Alarming signals from Polish exports! EDIT 25.10.2024 - New orders by Polish export industry -7,2% / September - Manufacturing PMI in October: Poland 48,6 | Germany 42,6 | Euro area 45,9. All up from previous month! 📉 Poland's total exports in the first eight months of 2024 amounted to €229.6 billion, 2.2% lower than in the same period last year. However, in August alone, exports fell by 3.3% year-on-year to €24.95 billion. The most significant declines were seen in capital goods, provision goods, and consumer goods. It is also worth noting that during the period the trade balance changed to negative (Imports 72,7bn PLN higher than exports). 🤝 Exports declining with almost all key trade partners:  According to the Central Statistical Office (GUS), in January-June 2024, among Poland's main trade partners (the top 10 are: Germany, the Czech Republic, France, the United Kingdom, Italy, Ukraine, the Netherlands, the USA, Sweden, Spain), exports showed declines compared to the same period in 2023. The exceptions were exports to Ukraine (up 4.6%) and to the United Kingdom (up 0.4%). 🇩🇪 Germany is the largest trading partner for Poland Data from the GUS shows that from January to July 2024, exports to this market amounted to €54.4 billion and decreased by 6.8% year-on-year. Germany's share of Polish exports in the first half of 2024 decreased by 1.3% points compared to the same period last year and amounted to 26.9 per cent. The next biggest export countries are the Czech Republic (6,27%) and France (6,16%). 🇫🇮 Exports to Finland:   The share of Poland's exports to Finland is: 0.8%, which puts Finland in 23rd place of Poland's top exporters. Most popular exported products are: mechanical and electrical machinery and equipment and parts thereof, base metals and articles thereof, vehicles, aircraft, ships and other means of transport. 🚘 Exports of the automotive sector: In H1 2024, exports of the automotive industry dropped by 17,86% (-5,1bn€), and the exports amounted to €23.7 billion. Germany remained the most important trading partner in the automotive sector (€8.06 billion, 33.92 %). However, exports to our western neighbor fell by 13.06% in half of the year. The next sales markets were: France (€2.18 billion, 9.19% of the total, -4.73%) Italy (€1.72 billion, +6.67%) and the Czech Republic (€1.59 billion, 6.72% -2.64%). In Poland, it still plays an important role in exports, accounting for around 13.5% of the value of the country's total exports. 🔗 Link to sources in comment.

💼 Andrzej from Spondeo team had the opportunity to attend last week's 'Biomass and alternative fuels in heating’ conference in Lublin, organised by the Magazyn Biomasa together with our client Pinja Group, represented by Suvi Strandman. Pinja offers software Once by Pinja, which is used in the heating and power sector in several countries, including Poland. 💡 Key findings from the event: -An anticipated increase in the use of pellets and biomass for combustion and co-combustion, with some experts forecasting a growth of even 5 million tons by 2026. -Significant potential in biochar derived from agricultural and municipal bio waste. -Underutilized opportunities in waste-derived fuels like RDF (currently exported to countries such as Finland and Ukraine) and the recovery of heat from municipal wastewater. -A noteworthy visit to the newly commissioned biomass unit at Megatem EC-Lublin, launched last year. The unit has a daily biomass demand of around 400 tons and an annual consumption of approximately 130,000 tons of wood chips, all sourced locally from the Lublin region. -Additionally, a comparison of the Polish heating industry between 2002 and 2022 highlighted a positive trend: analyses show that the heating energy intensity of the total building area in Poland has been reduced by one-third. 📅 And the roadtrip continues this week in Poznan! The 14th edition of the Biomass and Alternative Fuels Forum will take place 24-25.10. This is the most important autumn industry meeting in Poland, bringing together experts, leaders and innovators from across the energy and heating sector. We look forward to inspiring discussions and further steps towards a sustainable future! #biomass #energy #sustainabledevelopment #technology

Żabka Polska (translates as a little frog), the Polish famous 7-Eleven-type convenience store has just made its debut on the Warsaw Stock Exchange - making it as the IPO of the year in the Warsaw Stock Exchange. Everyone knows Zabka in Poland - it is estimated that 17 million people (~45% of the population) lives less than 500m of the closest Zabka. 🐸 Żabka - the largest chain of convenience shops in Poland, with over 10,500 shops operating on a franchise basis, including self-service Żabka Nano shops. The group is also developing catering services (Maczfit, Dietly) and online grocery shopping (Jush!, Delio). Żabka also opened its shops in Romania this year under the Froo brand. Zabka’s debut on the WSE is one of the biggest stock market events in Poland in recent years and has attracted the attention of both domestic and foreign investors and the general public. 📊 Żabka goes public: The debut of the retail chain Żabka on the Warsaw Stock Exchange took place yesterday, i.e. on 17 October. The offer included the sale of 300 million existing shares and the price was set at 21,50 PLN apiece. Zabka’s market value is around 5bn Euro. 📈 Debut on the WSE (Warsaw Stock Exchange): Yesterday, at exactly 9:15 a.m., żabka entered the market and the opening price was PLN 23, which is 6.98% higher than the IPO price (Initial public offer). At 9.37 a.m., the share price stood at PLN 21,50 (0.0%), thus equalling the IPO price. After two hours of trading, the price of the Żabka Group was gaining again 3.26%. However, the closing price was PLN 21,50, which is exactly what it was at the IPO. Żabka Group is listed under the abbreviated name ‘ZABKA’ and the ticker ‘ZAB’. The closing price with 0% increase was a small disappointment for many investors. 💡 Comparisons to other debuts  Żabka's debut is often compared to the entry of Allegro (Poland's largest e-commerce platform, operating as an online marketplace) on the stock exchange, which brought spectacular profits in its first days. Analysts also point to earlier successful debuts such as Dino, Ten Square Games and Celon Pharma. However, Żabka, unlike Allegro, is unlikely to enter the main stock market indices (WIG20) right away, but rather the mWIG40. It may not enter the WIG20 until 2025. Żabka is one of the largest IPOs on the WSE, ahead of Allegro, PZU, and PKO BP and just behind JSW, Play, Tauron and Pepco. 💡 “Expectations for the behaviour of the price in the debut were more optimistic. The marked increase in the price was very short-lived, and then the price returned to the vicinity of the issue price. Given how the prices of companies with large issues have behaved so far, there was talk of a price increase of 10-20 percent above the IPO price.” - mentioned Piotr Dmuchowski, Vice-President of TFI PZU. 🔗 Link to sources in comment. #Żabka #IPO #WarsawStockExchange #WSE 

💡 🇵🇱 Have you wondered how much it costs to build a house in Poland and what the differences are depending on the place of construction and the type (traditional construction or wooden)? 🏠 Construction market in Poland The value of the total construction market in Poland will exceed 93 billion € by 2026. Over the past eight years, the market has doubled in value, growing from € 41 billion in 2016 to over € 82 billion in 2024. However, this growth has been mainly nominal, driven by rising material and labor prices. 🏠 How long does it take to build in Poland? The construction of a house in Poland usually takes between 1 and 2 years, depending on several factors, such as the complexity of the design and the construction technology. More advanced projects may require up to 3 years for completion. 📈 Construction costs in Poland The construction of a house in Poland in 2024 varies in terms of cost, depending on the location and specifics of the project. The average cost of building a single-family house is between €1280 and €1400 per square meter of floor space. Building a house in Mazowieckie (especially in Warsaw) is the most expensive, where prices per square meter exceed €1400. Costs are also high in the Małopolsce and Dolny Śląsk regions, with prices at around €1300 per m². The lowest construction costs were recorded in Lubuskie, where a square meter costs an average of €1200. 📊Rising house construction prices: Experts predict that construction costs will rise more slowly than housing prices, with increases of between 6 and 12% depending on the region. 💡Costs of Wooden Houses in Poland in 2024: -Prefabricated Wooden Technology: Houses constructed from elements prepared in factories using natural materials. The rate per square meter of usable space in developer standard ranges from approximately €1100 to €1150. -Prefabricated Ceramsite Technology: Houses assembled from components made with concrete and ceramsite aggregates. The rate per square meter of usable space in developer standard ranges from approximately €1210 to €1450. -Log Homes: The average cost of building a log house in the closed shell stage in 2024 ranges from €700 to €930 per square meter.  -Timber frame technology - The rate per m2 of usable floor space in developer condition ranges from approximately €1000 to approximately €1300. 🏠 Wooden and Traditional Houses in Poland: In Poland, wooden frame buildings still represent a small slice of residential construction. According to the CSO, 1160 such buildings were completed in 2021, which accounted for 1.1% of the total number of residential buildings. In fact, in 2023, the CSO reported that for 12 months, individual investors had started building fewer than 70,000 houses throughout Poland.  However, this figure may be an underestimate, as no building permit is required in Poland for a house of up to 70 m2. 🔗 Link to sources in comment. #ConstructionPoland #HomeConstruction #WoodenHouses

One month countdown is starting for the ReBuild Ukraine fair in Warsaw! Event dates: 13-14th November 2024 Location: Warsaw Finnish companies in the exhibitors list: Over 35 💪💪💪 Not too late to join! Please see the event website https://lnkd.in/dwHU2Hzg and Business Finland's offer https://lnkd.in/djaRA9Gw For background info & fresh biz news from Ukraine - have a look on our Ukraine Desk's October newsletter 👇 https://lnkd.in/drH5Rs4K

Rewe Digital and AMB Software are set to launch an IT service center in Zielona Góra in Q4 2024, marking a significant investment in the region. This partnership aims to enhance digital services and create approximately 200 new jobs, focusing on software development and IT support. #ReweDigital #ZielonaGora #InwestInPoland

Did you know that Poland is one of the 23 countries in the world where the wellness market is developing the fastest? 🧖♀️ 🧘♀️ What exactly is wellness? It is a comprehensive approach to improving physical and mental quality of life. This industry includes services such as fitness, beauty, alternative medicine, healthy diets, as well as technologies and products aimed at enhancing well-being. 💡 The SPA & Wellness market in Poland is developing rapidly, growing annually by 10-20%. Currently, there are around 600 centers in operation, with 250 located in hotels, and this number could double within the next 4-5 years. Last year, the number of foreign visitors to Polish SPAs increased by 10%, with the majority coming from France, Germany, and the Middle East. 💡 Why does Poland attract so many people? Poland draws both domestic and international guests by offering modern facilities combined with attractive prices, which are sometimes up to 50% lower than in Western Europe. For example, a facial massage in Poland costs around 50 €, in the Czech Republic 70€ and in Finland around 100€. 📊 Poland ranked 23rd on the list of 25 countries with the greatest influence on the wellness market. The current value of the wellness market in Poland is nearly €35.5 billion. In recent years, it has been growing steadily and securely at a rate of 11.1% annually, according to the Global Wellness Institute. Finland is ranked 40th, while the European countries that also appear in the top 25 are Germany, the United Kingdom, France, Italy, Spain, the Netherlands, Switzerland, and Austria. 📈 In Poland, there is an increasing number of investments in the wellness industry from both large companies and startups. Innovative solutions that combine health with technology are becoming increasingly popular, and brands are adjusting their offerings to meet the changing needs of consumers. The continuously growing interest in healthy lifestyles, technological support, and the expanding medical and fitness service sectors indicate that the wellness market in Poland has immense potential for further growth. ❓ Do you think the wellness market in Poland has the chance for even more dynamic growth and to find itself in the top 10 in the world? 🔗 Link to sources in comment. #WellnessMarket #PolandWellness #BusinessGrowth #GlobalWellness #PolandBusiness #SpaIndustry