TOYA S.A. with its registered office in Wrocław, ul. Sołtysowicka 13-15, postal code 51-168, entered in the Register of Entrepreneurs of the
National Court Register kept by the 6th Commercial Division of the District Court for Wrocław - Fabryczna under KRS No. 0000066712, fully
paid share capital: PLN 7,504,222.60; NIP No.: 895-16-86-107; REGON No.: 932093253.
Letter of the President of the Management Board to the Shareholders
Dear Shareholders,
On behalf of the Management Board of Toya S.A. and the management boards of subsidiaries, I am pleased to
present to you the Toya Capital Group’s 2023 annual financial report. It was a difficult year, however the Toya
Group achieved good financial results. The biggest contributors were sales of more than PLN 732 million and a
net profit of more than PLN 68 million. The strong financial performance enabled the medium-term bank loan to
be repaid before maturity and prevented the use of external financing in the final weeks of 2023.
The wholesale channel has been the largest distribution channel in recent years. In the period ended, the Group
generated nearly PLN 359 million in sales. Despite being slightly lower compared to the previous year, we
recorded a 4 percentage point margin increase, bringing the margin in this channel to more than PLN 125 million.
The retail channel with e-commerce sales also recorded very good results. This happened as total sales in this
channel, as well as the margin, increased and rose to 47%.
Subsidiaries also developed very well, making a strong contribution to the 2023 financial results and adding to
the Group’s growth. The China-based company, Yato Tools (Jiaxing), has been expanding the operations of its
recently built state-of-the-art warehouse. It will serve as the Group’s logistics hub for the Chinese market and
will redefine supply chains by acting as a buffer warehouse. I am convinced that this investment will increase the
Group’s competitiveness and allow it to fully use its potential in the near future.
The Romanian subsidiary located in Bucharest, Toya Romania, had very good results. The company has taken
advantage of the opportunities associated with using the new, modern warehouse for several years by expanding
its product range and increasing its availability, which has significantly strengthened the company’s
competitiveness in the local market.
Last year, we achieved success despite the difficult macroeconomic situation and the ongoing military conflict
between Russia, Belarus and Ukraine. On the one hand, the Group made good use of the previous years’
investments while, on the other hand, continuing to support the subsidiaries to further develop their potential.
Although it was not easy for the Group, the past year was a period in which we achieved good financial results.
Our efforts have focused on optimising operational processes and on developing the business in a sustainable
manner. That is why we have prepared the Toya Group’s first non-financial sustainability report in which we have
addressed the issues relating to social, environmental and organisational responsibility.
On behalf of the Management Board of Toya S.A., the management boards of the subsidiaries and the entire
Group executive staff, I would like to thank the shareholders, all business partners and employees. Without your
support, the Group would not be able to grow and achieve good results.
I invite you to read the Annual Report.
President of the Management Board
Grzegorz Pinkosz
