Polish Market No. 207 / 2013 Special Edition

Polish Market :: SPECIAL EDITION /2013

PU B LISHED since 199 6 No. 207 / 2013 :: www.polishmarket.com.pl

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INSIDE: Pearls of the Polish Economy honorary pearls pearls of innovation

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Editorial

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his year’s “catch” of the “Pearls of the Polish Economy” was not easy. It is already for the eleventh time that the “Polish Market” magazine, together with the Institute of Economics Polish Academy of Sciences (INE PAN), have staged the ranking of the most competitive Polish companies. Consequently, we have extensive experience and strong comparative data, something that allows to make reference to Poland’s current economic situation.

The Pearls is in fact the only qualitative ranking in Poland that is based ​​on objective evaluations. Its results depend neither on the composition of the Jury nor the ruling political camp nor on the generosity of sponsors. A computer algorithm developed by the INE PAN ranks companies – using seven international audit indicators – according to their growth and their capital, production and labour efficiency. Every year, for 11 years, the Institute’s computer has processed this way data of more than 2000 Polish companies that record annual revenues of over PLN 100 million and ... agree to be evaluated. The title of the “Pearl of the Polish Economy” is granted to those of the surveyed companies that meet the minimum threshold (10% of the average value) for each of the seven efficiency criteria.

“The Pearls is in fact the only qualitative ranking in Poland that is based ​​on objective evaluations.”

That research objectivity of the ranking is obvious enough to be granted every year to the patronage of the Minister of Economy, but also the President of the Polish Academy of Sciences. The “Pearls of the Polish Economy” is not just yet another publicized prestigious list of companies. This ranking is also a long-term database, allowing in-depth efficiency analysis of various business and sectoral models and leading to some macroeconomic conclusions. One of such conclusions is a quite evident correlation between the number of Pearls and the condition of the economy. In the first years of the ranking, the number of Pearls grew fairly steadily. During the global crisis and the recession in Europe it oscillated around 200300 companies, underpinning the thesis that performance of Polish companies is one of the important factors that constantly maintain the national economy on the path of growth. With 74 Grand Pearls (companies with revenues above PLN 1 billion) and 62 Large Pearls (companies with an income exceeding PLN 100 million) compared with 226 Pearls in the previous edition, the ranking clearly shows the scale of the slowdown of the Polish economy in 2012. It was harder to enter the list of Pearls. This was confirmed by other studies of the INE PAN. “Financial results and corporate economic indicators were worse in 2012 than a year earlier. Financial results both gross and net

Publisher: Oficyna Wydawnicza RYNEK POLSKI Sp. z o.o.

(RYNEK POLSKI Publishers Co. Ltd.) President: Krystyna Woźniak-Trzosek Vice - Presidents: Błażej Grabowski, Grażyna Jaskuła Adress: ul. Elektoralna 13, 00-137 Warszawa, Poland Phone (+48 22) 620 31 42, 652 95 77 Fax (+48 22) 620 31 37 E-mail: info@polishmarket.com.pl Editor-in-Chief: Krystyna Woźniak-Trzosek Deputy Editor-in-Chief: Ewelina Janczylik-Foryś redakcja@polishmarket.com.pl

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Writers/Editors: Maciej Proliński, Jan Sosna, Sylwia Wesołowska- Betkier, Grażyna Śleszyńska, Janusz Korzeń, Jerzy Bojanowicz, Janusz Turakiewicz, Marcin Haber

fell by over 20%. Costs rose faster than revenues, which caused the cost indicator to deteriorate.

Sales revenues dropped too, hitting the lowest level (4.3%) in several years,” reads this year’s INE PAN’s journal “Forecasts and Opinions”.

But it would be denying our editorial line if we did not attempt – in this year’s difficult “catch” of Pearls as was said at the beginning – to bring up signals reversing negative trends and heralding somewhat more optimistic scenarios. It is not very difficult if you just look more closely at this year’s winners, especially the companies that topped the classification: LPP , Cyfrowy Polsat, Totalizator Sportowy (Grand Pearls) or Petrax, Wawel, Kombud (Large Pearls). Of course, every sociologist would explain the specific position of Totalizator Sportowy by the desire, typical for the crisis-marred communities, to escape reality but the success of LPP, Cyfrowy Polsat or Petrax heralds a fairly new phenomenon in the “young EU”, namely the spreading of the business model that consists in limiting to the most profitable elements in production or sales chain. On the one hand, it is a sign of increasing the CEE businesses’ chances to catch up in terms of efficiency with the European leaders. On the other hand, quite a large number of Pearls with a traditional business structure makes a case for the need to reindustrialize Europe, and the supporters of this thesis point out that it is something thanks to which Poland was the only economy to avoid recession. In turn, Pearls ranked as high as Kombud or Festo recommend Polish entrepreneurs an action pattern based on technological innovation not necessarily in the form of an impressive final product.

The signs of the potential development are confirmed by this year’s acceleration of economic growth. “The macroeconomic forecast for Polish industry is very good for the second quarter of next year and bright for at least the end of 2014. Having a good fourth quarter of 2013, the industrial production in the first quarter of 2014 will rise by 10-15 % year-on-year. Even though in the second half of 2014 the positive trend is expected to stop, it is anticipated that industrial production growth will exceed 5 % year-onyear,” reads a study conducted by the Polish Agency for Enterprise Development. This can only mean one thing: next year’s “catch” of the “Pearls of the Polish Economy” promises to be more abundant. :: Krystyna Woźniak-Trzosek Editor-in-Chief President Rynek Polski Publishers Co. Ltd.

www.liliprojekt.pl Contributors: Przemysław Rudowski, Agnieszka Turakiewicz Photographer: Agnieszka Charuba Sales: Phone (+48 22) 620 38 34, 654 95 77 Natalia Suhoveeva natalia.s@polishmarket.com.pl Public Relations: Joanna Fijałkowska j_fijalkowska@polishmarket.com.pl

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Po prostu włącz

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Pearls of the Polish Economy Contents Krystyna Woźniak-Trzosek, President and Editor-in-Chief of “Polish Market,” speaking at the Gala

The Grand Awards Gala of the Pearls of the Polish Economy 2013 The Pearls of the Polish Economy Gala was held at the Royal Castle in Warsaw on December 3, 2013.

The organizers of the Gala were “Polish Market” and the Institute of Economics of the Polish Academy of Sciences. Distinguished guests representing economy, culture and science graced the Gala. Deputy Prime Minister and Minister of Economy Janusz Piechociński and President of the Polish Academy of Sciences, Prof. Michał Kleiber were the patrons of the Gala.

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his year’s Gala of the Pearls of the Polish Economy, like the previous ones, gathered at the Royal Castle in Warsaw the elite of the Polish economy, science, culture, as well as many guests of honour. Secretary of State in the Office of the President of Poland Olgierd Dziekoński, who delivered an opening address on behalf of President Bronisław Komorowski, stressed the importance of the Gala and the merits of its laureates: “On behalf of President Bronisław Komorowski, I would like to extend best wishes to the organizers of the Gala of the Pearls of the Polish Economy and to all those who are today its laureates. I would specifically like to emphasize that influencing by one’s professional activities the shape of the country is always worth noticing and following.

At the same time, I would like to congratulate those who have won Honorary Pearls, because what you do is part of what we have experienced for 25 years, of the sense of freedom that you fill in with social content. And I wish to thank you on behalf of President Komorowski for this ability to build the social communities of Honorary Pearls”.

The second speaker was President and Editor-in-Chief of “Polish Market” Krystyna

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Woźniak-Trzosek. In her speech she put a particular emphasis on the new way of perceiving the economy. She also appealed to Polish media to point out positive features of the Polish economy and not, as it often happens, focus only on negative news: “This time last year the beautiful halls of the Royal Castle hosted the 10th anniversary of the Pearls of the Polish Economy, and last June we celebrated the 200th edition of the “Polish Market” magazine. We are proud as editors that without a great publishing machine, without large capital, and against the background of an increasingly difficult and competitive market conditions, we have been able, for over 17 years now, to fulfill our mission of building a positive image of Poland in the world by promoting its economy, science and culture. Just as our jubilee issue was released in June, it appeared from the figures of Eurostat that Poles bought most goods and services in that very month. “Polish Market“ was one of the few Polish media to convey that economically memorable information to its Polish and foreign readers. I wonder why we are alone in breaking good news about Poland.

Topics that dominate in the media and in the Polish political debate are primarily related to the crisis and growing social discontent.

Already six years ago, one economist warned

Olgierd Dziekoński, Secretary of State in the Office of the President of Poland

that Poland will have to pay the price for its economic success (remaining on the growth path) by incurring a failure in the field of social psychology, or even losing public confidence. Today, it seems that this warning is, to some extent, proving true. Some even say that economics ceased to be science to become a new religion. What is economics then?

And where does this new religion come from?

Pearls of the Polish Economy These questions were asked by the late Vaclav Havel in the preface to the excellent book by Tomáš Sedláček « The Economics of Good and Evil ». Why are we so much dependent on the continued growing of growth?, asks Havel. Why in so many discussions and political debates there is talk of fanaticism and obsession? Maybe - says Havel - this is because economics, which is a science, is often confused with accounting. What would such an economist-accountant do when confronted with a task of optimizing a symphony orchestra performance? Most likely, he would eliminate all pauses from Beethoven’s concerts. After all, they are useless as they only slow everything down. And you cannot pay the musicians where there is no play.

This is obviously a joke. But seriously, the point is that, in the 21st century, crossing the boundaries of economics, combining it with history, philosophy and even mythology becomes a must when it comes to understanding the world and of course the human being in this complex world. I say this not without reason, because all our rankings and our awards are something more than just schemes or diagrams typical of such compilations. By way of example, the Pearls of the Polish Economy ranking, developed by the economists from the Institute of Economics of the Polish Academy of Sciences, differs from other rankings insofar as it primarily considers efficiency and the pace of growth. Therefore, a company’s place in the ranking is not directly related to its income volume, but to its overall condition. If a company has its place in this ranking, it means that it meets the strict criteria of efficiency and can be called the Pearl of the Polish Economy. As regards the “Honorary Pearls”, they are awarded by the Jury to the people who can be called ambassadors of the highest Polish values, the people who are great visionaries in their fields of activity, who have the courage to overcome stereotypes in culture, science, economy, the people whose attitude and actions contribute to the common good, and who build our history and boost our national heritage. For the third time the Pearls of Innovation - Progress have been awarded by “Polish Market” and the Main Council of Research Institutes under the guidance of Prof. Leszek Rafalski.

They are called “Progress”, because they are future-oriented. Let me just remind you that innovation is the ability to create a product or a service that gives rise to success. Colin Powell, the U.S. Secretary of State under the George W. Bush administration, said: “None of us can change our yesterdays, but all of us can change our tomorrows”. I wish you to be able to pursue your tasks and achieve your goals in view of tomorrow and the future”.

The speech was also delivered by Deputy Prime Minister and Minister of Economy Janusz Piechociński. He started with quoting the well-known Polish proverb that perfectly summarizes the Gala of the Pearls of the Polish Economy: “The grass is always greener on the other side of the fence”. He also called for a change of approach in business from recriminations to dialogue and partnership: “The grass is always greener on the other side of the fence. This curse of previous years have to be changed and whatever is Polish must be better known. What is especially obliging is our place, our culture and our past that gave birth to our identity and memory.

We are on the eve of three significant overlapping anniversaries: the 25th anniversary of the Polish transformation that changed not only the face of Poland, but also that of Europe, the 15th anniversary of the Polish presence in NATO and the 10th anniversary of our membership in the European Union.

Not their Union, but our Union, which Pope John Paul II dreamed of so beautifully when writing « Memory and Identity ». The end of this year will mark the 5th anniversary of the collapse of Lehman Brothers, which triggered the global crisis, and it is not only the economic or social crisis, but also a crisis of attitudes. Active, sensible people, able to cooperate, guided by values that they have in them and who cherish them are winning in all aspects. And all those who are indifferent to the need for change and have only claims have already lost. It is important to recognize those who are above mediocrity not only in the Polish economy, to look at other links between what is offered or can be offered by the

Janusz Piechociński, deputy Prime Minister and Minister of Economy

Krystyna Woźniak-Trzosek, President and Editor-in-Chief of “Polish Market”

economy, and what is in its backyard - values embedded in the culture, kindness and community-building skills. Therefore, it is time to reward those who rise above mediocrity, it is time once again to point to those who do not tell others go forward, but who boldly say follow me, and who propose a new form of competition - not by fighting , but by interaction. Today, in order to successfully enter new markets, to effectively promote national products, one must be able to trust and be trusted, one have to know how to attract interest, and to build tooling with a view to concluding economic contracts.

If we want to fulfill the great commandment that today’s man has to exceed the threshold of hope every day, if we want to find an effective and good response to global uncertainty and challenges, living in a world that is speeding up in every aspect, including ideas, then we must look for what we have in common and what is important. It is a precious ability not to shout when we do not agree, but show respect to your partner, say what is acceptable for you and forge a positive scenario.

I am glad that during the Gala of the Pearls of the Polish Economy we meet those who are good ambassadors for Poland. The Pearls are not only determinants of success, but they also express humility in success and treat it as a great challenge.

The last one to take the floor in the first part of the Gala was a member of the Jury of the Pearls of the Polish Economy, President of the Polish Academy of Sciences, Prof. Michał Kleiber. The main body of his speech was devoted to the mechanism of the selection of winners and to the justification of its fairness: “It gives me great satisfaction that I can once again participate in the celebrations and to take the floor. This is a very significant event. It honours successful companies and successful people in a very special way. “Polish Market” – an excellent magazine promoting Poland in the world – came up, more than a decade ago, with the idea to use the knowledge of Polish scientists and develop the most SPECIAL EDITION /2013 :: polish market :: 5

Pearls of the Polish Economy Contents objective ranking of Polish enterprises. The scientific institution which was asked to cooperate in this matter was the Institute of Economics, a highly reputable entity within the Polish Academy of Sciences. In the personal dimension, this initiative was lucky to be entrusted to Prof. Jan Macieja who perfected the ranking’s criteria over the years. And today, it must be emphasized that we are dealing with the ranking which is the most objective way of positioning companies operating on the Polish market. This year we had over two thousand companies seeking the honour of receiving the title of the Pearl of the Polish Economy. We chose less because the ranking

Prof. Michał Kleiber, President of the Polish Academy of Science

is constructed in such a way that all its criteria have a certain threshold and in order to get a Pearl, a candidate company needs to fare better in all these criteria than the threshold value. This means that there is no predetermined number of laureates. The more they are, the better mid-term prosperity is, and the more we should be pleased with the results.

A great complement to this ranking is certainly an attempt to honour eminent personalities from the world of culture, science, economy - another edition of Honorary Pearls of “Polish Market”, this year also with the prize for innovative companies. In short, creativity is certainly the element which we should assign unifying, synergistic value to, which we should all strive for, which we should reward and be happy about!”

The following companies were awarded the Grand Pearl of the Polish Economy: Grupa Kapitałowa LPP S.A., Grupa Kapitałowa Cyfrowy Polsat S.A. and Totalizator Sportowy Sp. z o.o.

The Large Pearl title went to: Petrax Sp. z o.o., Wawel S.A. and Zakłady Automatyki Kombud S.A.

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Guests invited to the Gala

One of the Grand Pearls of the Economy, a prize for the most powerful companies on the Polish market, was awarded to the Capital Group Cyfrowy Polsat S.A . The company was represented at the gala by Dariusz Działkowski, member of the Board in charge of technology. He pointed out that the company’s success was primarily due to customer-friendliness: “The Pearl of the Polish Economy is a great honor for us. And since we received it for the fifth time, I do not hesitate to say that Cyfrowy Polsat becomes a showcase of Polish economy. This award proves that our efforts are effective and provide measurable results.

It furthermore points to the recognition of our customers and opinion-makers. I also believe that the greatest Pearl is the team of Cyfrowy Polsat, because it is thanks to our employees that new products and services are implemented, great financial results are achieved, and customer satisfaction is gained.

Many factors influenced the meeting of the Jury’s criteria, but I think that the most important distinguishing feature was and still is the right development strategy and the effectiveness of our company. As regards plans that could be of interest to our shareholders and subscribers, we are going to offer, in cooperation with Polkomtel, to the customers of both companies even more services that combine television and telecommunications. In the medium and long-term perspective, this will have a positive impact on the Group’s results”.

Another winner of the Grand Pearl is Totalizator Sportowy Sp. z o.o. Wojciech Szpil, the company’s President, pointed out that it is an extremely important moment for him as it sums up his first year as President. He also stressed the importance of the Gala organized by “Polish Market” and the Polish Academy of Sciences: “A President of a company has probably no more satisfying moments in the professional life than when they learn the business

they runs has been awarded a prestigious title. For me, however, the fact that Totalizator Sportowy was ranked third in the category of Grand Pearls and took a second place in the ranking of manufacturing and service providing companies has yet another special meaning. In fact, one year will soon elapse since I was appointed the President of the company’s Management Board. Therefore, I believe that distinctions in the form of Pearls have proven my vision of the functioning of Totalizator Sportowy successful.

Let me also take this opportunity to thank Polish Market and the Institute of Economics of the Polish Academy of Sciences for having organized the ranking of the Pearls of the Polish Economy. Your ranking is for entrepreneurs a kind of a fuel driving our creativity.”

The Large Pearl of the Polish Economy was granted to Wawel S.A. When picking up the award, Katarzyna Turlej, Trade Marketing Manager, admitted that it is an extremely important distinction and stressed that the company has seeks further development: “The Pearl of the Polish Economy is

Eugeniusz Grzeszczak, deputy Speaker of the Lower Chamber of Polish Parliament

Pearls of the Polish Economy a particularly valuable proof of Wawel’s economic success. The award is so special because it is awarded on the basis of an objective qualitative ranking prepared by the Institute of Economics of the Polish Academy of Sciences. Wawel is appreciated by market analysts, business partners and consumers thanks to the whole team’s hard work. The company’s capital management activities are multi-layered and long-term. We are investing in and expanding production facilities, introducing new products, as well as boldly positioning ourselves on foreign markets. We are heading in a good, well thought-out direction”.

In the financial sector (banking and insurance) the winners were: Aviva

Zygmunt Solorz-Żak, Honorary Pearl in the Economy category

Towarzystwo Ubezpieczeń na Życie S.A., Provident Polska S.A. and BZ WBK-Aviva Towarzystwo Ubezpieczeń Ogólnych S.A. Infrastructure industry leaders were: Grupa Kapitałowa Cyfrowy Polsat, Gdańskie Przedsiębiorstwo Energetyki Cieplnej Sp. z o.o. and Polish Oil and Gas Company S.A. (PGNiG S.A.). The best production and service companies were: LPP Grupa Kapitałowa, Totalizator Sportowy and Petrax Sp. z o.o.

During this year’s Gala, Innovation Pearls Progress 2013 were awarded. The Jury in the person of Krystyna Woźniak-Trzosek, Editorin-Chief of “Polish Market” and Prof. Leszek Rafalski, Chairman of the Main Council of Research Institutes, chose companies, research institutes and inventors which are leaders in innovation and are constantly introducing new innovative solutions.

The most innovative companies include: 3M, BSH Sprzęt Gospodarstwa Domowego Sp. z o.o., Zakład Usług Brukarskich “Adrog” Sp.j. and Neurosoft Sp. z o.o. The winning institutes are: the Children’s Health Memorial Centre Institute and the Foundry Research Institute.

The inventors-winners are: Associate

Professor Marek Sciążko, D.Sc., Eng. and Professor Jerzy Kątcki, D.Sc., Eng. The Innovation Pearl was granted this year to BSH Sprzęt Gospodarstwa Domowego Sp. z o.o., a company that had already been awarded in previous years. In contrast to previous awards, the company was honoured this year in the category of Progress. The main award-winning factor was innovative solutions in the field of environmental protection implemented by BSH. The company’s President Konrad Pokutycki commented as follows: “We welcome every award with respect and we feel very honoured. This prize seems to be the summary of what we have done for many years, that we were and are the leading market innovator in the housing appliances’ industry, and that we promote innovative solutions- not only these energy labels, which were mentioned earlier, but also many innovative eco-friendly solutions for transport.

So undoubtedly this is a very valuable award for us one that cannot be earned for a one-year economic result as is the case of the Pearls of the Polish Economy, which we have managed to get a few so far. It certainly is an award for which we had to work hard for many years, so we are very happy.”

The Innovation Pearl for a research entity was received by Prof. Małgorzata Syczewska, Director of the Children’s Health Memorial Centre Institute. The Foundation was honoured for the entirety of its achievements, including highly specialized treatments and medical procedures (kidney and liver transplants). It is the only paediatric facility to perform such procedures in Poland.

Prof. Syczewska pointed to the unique value of the award as it is received from the business community. She also stressed the important links between medicine and business: “The Institute has won this year the A+ category. We are also one of the two institutes that were given in surveys such a high category, but that was, let’s say, the recognition from our milieu, arising from our acquis, while this one goes beyond the strictly academic environment. So it is even more valuable for us that we have gained recognition and appreciation from the business professionals. We are an institute which moves not in the field of economy, but in paediatric medicine, but, as evidenced by numerous studies and opinions by economists, there is not a good economy without a healthy society and there is no healthy society without well-treated children. So yes, in some way, we also indirectly contribute to the economic success of Poland. Maybe not next year, maybe not for two but for fifteen or twenty years. This Pearl, as I understand it, is just for the fact that the future generations of the

Herbert Wirth, Honorary Pearl in the Economy category

people working in the area of the economy will be healthier, better prepared, and - as they enter adulthood not to say much older age - they will remain, perhaps partly thanks to our efforts, productive and able to live to a ripe old age in better condition.”

During this year’s Gala Honorary Pearls were awarded for the eighth time. In the economy category distinctions went to: Herbert Wirth, Zygmunt Solorz-Żak and Jan Kulczyk; in the category of science to Prof. Bogusław Maciejewski and the Oncology Centre in Gliwice, Prof. Tomasz Dietl from the Institute of Physics of the Polish Academy of Sciences and Prof. Stanisław Woś, a heart surgeon from Upper Silesian Medical Centre Katowice-Ochojec; in the field of culture to Jerzy Maksymiuk, conductor, Mirosław Balka, sculptor, and the Academic Choir of the Adam Mickiewicz University in Poznań.

Jan Kulczyk, Honorary Pearl in the Economy category

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Pearls of the Polish Economy Contents Jerzy Starak received the Pearl for the promotion of social values, Prof. Władysław Bartoszewski and György Spiró, a Hungarian novelist, playwright and translator, for promoting patriotic values.

One of the winners of this year’s Honorary Pearls was Herbert Wirth, the President of KGHM Polska Miedź S.A. Due to his duties and mining celebrations that coincided with the Gala, he could not make it personally to the Royal Castle. However, he transmitted a video message to the audience. President Wirth stressed that this award was a tribute to his whole team, without whom it would not be possible: “Ladies and Gentlemen, I am sorry that I can not be today with you, especially that it is also a special day for me due to the fact that on December 3 mining celebrations are held in my company. I hope that you will understand that I could not be with you. I want to tell you one very important thing: I am surprised not only that I am a beneficiary of this award, but also the fact that I am among such distinguished individuals who are receiving awards today fills me with absolute pride and I would like to thank for it. At the same time, there is no individual success, but a collective one. What I want to say is that I have an excellent team who have helped me to achieve what is called an international achievement.

This award is also proof of what KGHM managed to accomplish recently by going abroad, buying a huge Canadian asset, something that made it become a global company. This would not be possible if there was not a very good team. This award, which I am receiving today, is the prize for this team. I also want to say that KGHM is not only a company focused on itself, but we strive to share our expertise and our experience with others. That is why the Global Group Poland formula was born.

Let me stress it once again that the Honorary Pearl is for me a great appreciation and gratitude for what the Jury did. I would like to swear that KGHM under my direction will continue to strive to make Polish economy grow further. Again, I want to thank the Jury and to all those who have contributed to this success that today I can be here today. Again, sorry for the fact that I could not be here with you on this important occasion. Thank you and have a nice evening”.

The Honorary Pearl in the culture category was awarded to one of the greatest Polish composers, Jerzy Maksymiuk. In his speech he mentioned that Polish music is and has always been the hallmark of our country abroad: “Thank you very much for the Honorary Pearl of the “Polish Market” magazine.

I feel honoured. Culture, including music has always been, even in the hard times of

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From left: Waldemar Dąbrowski, Executive Director of Wielki Theatre - National Opera in Warsaw, Krystyna Woźniak-Trzosek (“Polish Market”), Eugeniusz Grzeszczak, Undersecretary of State at the Ministry of Culture and National Heritage Małgorzata Omilanowska, and Janusz Piechociński

occupation by foreign powers, Poland’s best advertisement and trademark. We first of all, we great composers – as opposed to such nations as Norwegians, Danes, or Swedes. We have Chopin, but also Ignacy Jan Paderewski, a great statesman, pianist and composer, quite forgotten today but before whom as he was entering the stage - the English queen got up. I am a little bit of «a Gandhi for Paderewski ». I have always claimed that his B-minor “Polonia” symphony is the best symphony in Polish musical literature. I play it often and I have recorded it three times already. I have always had the idea of discovering something in music. And I think there is still a lot to be discovered, but also to make good use of what already is there. And what I mean is not only Polish acquis. Recently, for example, I have been playing a symphony by Borys Latoshynsky, a Ukrainian composer. Imagine that the Ukrainians themselves hardly know his music!”

A special Honorary Pearl was awarded to Waldemar Dąbrowski, Executive Director of Wielki Theater - National Opera in Warsaw.

Prof. Bogusław Maciejewski, Director of the Oncology Centre, Institute of Maria Skłodowska-Curie, Branch in Gliwice

Mr Dąbrowski shared his point of view on the close relationship between business and culture: “The Pearl of “Polish Market” is for me an absolutely unique distinction. I was even a little stunned when I learned about it. An eco-

Jerzy Maksymiuk, Polish composer

nomic magazine focused on Polish business leaders grants an award to a man like me, that is a man who has always – with a short pause only – dealt with issues that were, it seems, generally considered to be remote from market-oriented thinking patterns. Today, in this better democratic world, we have all realized that the truth is that every human action has a business dimension. Even a piece of paper on which a poet writes has a market value...

Thus, recognizing a man active in the sphere of culture as I am - in a sense of artistic creations - by “Polish Market” is indicative of my good understanding of our modern times”.

In the science category, the Honorary Pearl went Prof. Bogusław Maciejewski, Director of the Oncology Centre, Institute of Maria Skłodowska-Curie, Branch in Gliwice. The Jury appreciated the world - class level represented by the Centre under the guidance of Prof. Maciejewski. The professor and his

Pearls of the Polish Economy Grand Pearls: LPP Capital Group S.A. Grupa Kapitałowa Cyfrowy Polsat S.A. Totalizator Sportowy Sp. z o.o.

Large Pearls: PETRAX Sp. z o.o.

Wawel S.A. Zakłady Automatyki “Kombud” S.A. Financial sector (banking and insurance): Aviva Towarzystwo Ubezpieczeń na Życie S.A. PROVIDENT POLSKA S.A. Group BZWBK - Aviva Towarzystwo Ubezpieczeń Ogólnych S.A. From left: Krystyna Woźniak-Trzosek, Edward Trzosek, Janusz Piechociński, Prof. Michał Kleiber, Olgierd Dziekoński and Małgorzata Omilanowska

Infrastructure sector: Grupa Kapitałowa Cyfrowy Polsat S.A.

team have performed this year the first face transplantation in Poland.

“I think that science is searching for truth about reality. And today we slowly realize that the closer to the horizon we are, the more he moves away. Another significant issue is that in science there are no spectacular discoveries by one person. It has been all teamwork.

So I am truly satisfied as I look today at my successors. They have amazing ideas and my role is to facilitate their implementation. This year’s most spectacular event in the Center is surely the successful total lifesaving face transplantation. However, face transplantation is only a fragment of the work and activities of the team of surgeons who, in addition to being specialists in cancer surgery, have also become reconstruction and microreconstruction surgery specialists. While I am thanking you for the Pearl of “Polish Market”, I must confess that I have mixed feelings: on the one hand I feel a great joy, on the other hand I ask myself the question whether I deserve it. Let me quote Marian Załucki: “The heart and soul are overjoyed, and as I look in the mirror, I can hardly believe it”.

The Honorary Pearl in the economy category was picked up by Jan Kulczyk, the owner of Kulczyk Holding, a longtime leader of the richest Polish entrepreneurs ranking. Quoting Henry Ford, he argued that in business one has to follow their own intuition:

“If I asked people what they wanted, they would reply - fast horses”, said Henry Ford, the founder of Ford Motor Company. Thank God he did not listen to what they told him...

I think that the Pearls of the Polish Economy are simply pearls. We primarily act, operate ...we listen too, but not just listen. I wish to thank you, Madam President WoźniakTrzosek for reminding us today that the economy is a religion… and made me realize that I am so religious”.

The Gala of the Pearls of the Polish Economy was graced by the performance of the Academic Choir of the Adam Mickiewicz University in Poznań, which won the Honorary Pearl in the culture category, by the Partita Vocal Ensemble and by the winners of the Disabled Youth Song Festival supported by “Polish Market”.

The whole ceremony was organized thanks to the sponsors of the Gala: Provident Polska, KGHM Polska Miedź S.A., Siemens, and owing to the partners: Royal Castle in Warsaw, 3M Poland, Polish Ecology Association and the Association of Polish Butchers and Meat Processors, Kregliccy Restaurant, as well as Apart and Wittchen.

The media partners of the Gala were: TVP, TVP Info, PAP, Radio PIN, Harvard Business Review Polska, Gazeta Bankawa, capital24. tv, Mediarun and egospodarka.pl . ::

Gdańskie Przedsiębiorstwo Energetyki Cieplnej sp. z o. o.

Polish Oil and Gas Company S.A. (PGNiG S.A.) Production and service: LPP Capital Group S.A. Totalizator Sportowy Sp. z o.o.

Petrax Sp. z o.o.

Pearl of Progress - The most innovative companies: NEUROSOFT Sp. z o.o.

Zakład Usług Brukarskich „ADROG” 3M POLAND Sp. z o.o.

BSH Sprzęt Gospodarstwa Domowego Sp. z o.o.

Pearl of Progress - institutes: Foundry Research Institute Children’s Health Memorial Centre Institute

Pearl of Progress - The inventors: Associate Professor Marek Sciążko, D.Sc., Eng. Professor Jerzy Kątcki, D.Sc., Eng.

Honorary Pearls - economy: Herbert Wirth Zygmunt Solorz-Żak Jan Kulczyk

Honorary Pearls - science: prof. Bogusław Maciejewski prof. Tomasz Dietl prof. Stanisław Woś

Honorary Pearls - culture: Jerzy Maksymiuk Mirosław Bałka Academic Choir of the Adam Mickiewicz University in Poznań

Pearl for the promotion of social values: Jerzy Starak

Pearl for the promoting patriotic values: prof. Władysław Bartoszewski György Spiró

Special Honorary Pearl: Pearls of the Polish Economy Gala

Waldemar Dąbrowski

SPECIAL EDITION /2013 :: polish market :: 9

Pearls of the Polish Economy Contents

Honorary Pearls

Zygmunt Solorz-Żak collecting the award

Zygmunt Solorz-Żak speaking at the Gala

From left: Zygmunt Solorz-Żak, Adam Szejnfeld, Krystyna Woźniak-Trzosek, Janusz Steinhoff and Janusz Piechociński

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Jan Kulczyk receives the award from Krystyna Woźniak-Trzosek and Adam Szejnfeld

Jan Kulczyk receiving the Honorary Pearls award in the Economy category

Pearls of the Polish Economy

From left: Krystyna Woźniak-Trzosek, Janusz Piechociński, Prof. Michał Kleiber

Jan Kulczyk speaking at the Gala

From left: Adam Szejnfeld, Krystyna Woźniak-Trzosek, Jan Kulczyk (Honorary Pearl in the Economy category), Janusz Steinhoff, Zygmunt Solorz-Żak (Honorary Pearl in the Economy category), Janusz Piechociński

Prof. Bogusław Maciejewski collecting the Honorary Pearls award in the Science category

Prof. Tomasz Dietl, Honorary Pearl in the Science category

Prof. Stanisław Woś, Honorary Pearl in the Science category

SPECIAL EDITION /2013 :: polish market :: 11

Pearls of the Polish Economy Contents

Jerzy Maksymiuk at the concert

Jerzy Maksymiuk receives the Honorary Pearls award from Krystyna Woźniak-Trzosek in the Culture category

Patryk Starak collects the award for promoting social values on behalf of his father, Jerzy Starak

Mirosław Bałka, a sculptor, receives the award in the Culture category

György Spiró speaking at the Gala György Spiró, a prose writer and translator, collects the award for promoting patriotic values

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Mirosław Bałka

Pearls of the Polish Economy Waldemar Dąbrowski receives the Special Honorary Pearls award from Krystyna Woźniak-Trzosek

Waldemar Dąbrowski speaking at the Gala From left: Waldemar Dąbrowski, Zygmunt Solorz-Żak, Jan Kulczyk

Beata Bielska collects the award on behalf of the Academic Choir of the Adam Mickiewicz University in Poznań

Academic Choir of the Adam Mickiewicz University in Poznań

SPECIAL EDITION /2013 :: polish market :: 13

Pearls of the Polish Economy Contents

Grand Pearls

Dariusz Działkowski, Member of the Board of Grupa Kapitałowa Cyfrowy Polsat, collects the Grand Pearls award

Magdalena Stefańska-Lotkowska, LPP Group, collects the Grand Pearls award

Wojciech Szpil, President of Totalizator Sportowy

Large Pearls

Kazimierz Frąk, ZA Kombud S.A., receives the award from Janusz Piechociński

Piotr Liszek, Vice-President of Petrax Sp. z o.o., collects the Large Pearl award Piotr Liszek, Petrax

Aleksandra Defitowska, Wittchen, hands out gifts to the winners

Katarzyna Turlej collects the award for Wawel S.A. Winners of the Large Pearls award

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Pearls of the Polish Economy

Dariusz Działkowski collects the award for Grupa Kapitałowa Cyfrowy Polsat in the Infrastructure category

Dariusz Działkowki

Award winners in the manufacturing and services sector: Magdalena Stefańska-Lotkowska (LPP Group) and Piotr Liszek (Petrax)

Jacek Murawski, Vice-President of the Polish Oil and Gas company (PGNiG), collects the award in the Pearls of the Infrastructure Sector category

Grzegorz Blachowski, Gdańskie Przedsiębiorstwa Energetyki Cieplnej, collects the award in the Pearls of the Infrastructure Sector category

Jacek Murawski (PGNiG) Grzegorz Blachowski and Jacek Murawski Award winners in the infrastructure sector

Patrycja Rogowska, Provident Polska S.A. Group, collects the award in the Financial Sector category

Award winners in the financial sector

Katarzyna Mirowska-Wawrzyniak, BZWBK - Aviva Towarzystwo Ubezpieczeń Ogólnych S.A., collects the award in the Financial Sector category

SPECIAL EDITION /2013 :: polish market :: 15

Pearls of the Polish Economy Contents

Małgorzata Omilanowska presents a medal for services to Polish culture to Andrzej Fraindt (Partita band)

Aleksandra Liske, a laureate of the 17th Song Festival for Young Disabled People in Ciechocinek, sings “A Heart of Stone”

Partita band. From left: Andrzej Fraindt, Anna Pietrzak, Ludmiła Zamojska, Bronisław Kornaus

Natalia Smogulecka, a laureate of the 17th Song Festival for Young Disabled People in Ciechocinek, sings “Mein Herr”

Prof. Leszek Rafalski, Prof. Jan Macieja, Janusz Steinhoff and other guests

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“Polish Market” Board members present a Special Award for the Polish Ecology Association of Organic Products Processors and Producers to Maciej Rudziks and a Special Award for the Polish Association of Butchers and Meat Processors to President Janusz Rodziewicz

Pearls of the Polish Economy

From left: Prof. Leszek Rafalski, Krystyna Woźniak-Trzosek, Edward Trzosek

From left: Janusz Steinhoff, Prof. Leszek Rafalski, Krystyna Woźniak-Trzosek, Edward Trzosek

Waldemar Dąbrowski and Małgorzata Omilanowska

Janusz Piechociński and Prof. Henryk Skarżyński

From left: Zygmunt Solorz-Żak, Prof. Leszek Rafalski, Krystyna Woźniak-Trzosek, Edward Trzosek

From left: Marek Juszczyk, Director of the National Centre for Nuclear Research, greets Krystyna Woźniak-Trzosek and Edward Trzosek

Prof. Michał Kleiber and Prof. Henryk Skarżyński

Janusz Steinhoff and Henryk Lewiński, President of the Israel-Poland Chamber of Commerce

SPECIAL EDITION /2013 :: polish market :: 17

Pearls of the Polish Economy Contents

Zygmunt Solorz-Żak and Janusz Steinhoff Guests invited to the Gala, with Kazakh Ambassador Yerik Utembayev in the foreground

Guests invited to the Gala, with Henryk and Maria Lewiński in the foreground

Guests invited to the Gala

Academic Choir of the Adam Mickiewicz University in Poznań

Witold Zaraska with his wife Monika

18 :: polish market :: SPECIAL EDITION

Jerzy Maksymiuk with his wife Ewa

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Pearls of the Polish Economy

Adam Dybcio with his wife Eugenia Xavier Douellou, 3M Poland

Mieczysław Święcicki

Prof. Marek Krawczyk with his wife Prof. Henryk Skarżyński and Waldemar Dąbrowski

Jan Kulczyk and Jarosław Sroka (Kulczyk Holding)

Andrzej Wilman with an accompanying person

SPECIAL EDITION /2013 :: polish market :: 19

Pearls of the Polish Economy Contents

Xavier Douellou presents the Pearl of Innovation award

Associate Professor Marek Ściążko, D.Sc., Eng., with his wife

Janusz Piechociński gives an interview

Partita band and Jerzy Maksymiuk

Pearl of the Polish Economy winners collect award certificates

Mirosław Satora (ProOmnibus Foundation) and Janusz Piechociński

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Adam Szejnfeld, MP, and Krystyna Woźniak-Trzosek

Dominika Kulczyk-Lubomirska, President of GreenCross Poland, and Jan Kulczyk

Pearls of the Polish Economy

Guests at the banquet, representatives of Provident Polska

Janusz Piechociński with Aleksandra Liske (left) and Natalia Smogulecka (right)

Piotr Salaber with an accompanying person

Błażej Grabowski (“Polish Market”) and Andrzej Maślak (BSH Sprzęt Gospodarstwa Domowego)

Prof. Michał Szota with an accompanying person

Guests at the banquet Guests at the banquet

SPECIAL EDITION /2013 :: polish market :: 21

Pearls of the Polish Economy Contents

Leokadia Ładysz, Krystyna Woźniak-Trzosek, Joanna Wiktoria Grabowska and Bernard Ładysz

From left: Adam Dybcio, Wojciech Malusi, Chairman of the Board of the Polish Economic Chamber of Road Building Industry, and Krystyna Woźniak-Trzosek

Editorial Board of “Polish Market”: Maciej Proliński, Ewelina Janczylik - Foryś, Urszula Bosiacka, Joanna Wiktoria Grabowska, Agnieszka Charuba Mirosław Bałka and Małgorzata Omilanowska

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Jesteśmy, kiedy potrzeba

Pearls of the Polish Economy Contents

How have the

Pearls of the Polish Economy been selected?

Prof. Jan Macieja, INE PAN

T

he title Pearl of the Polish Economy1 is awarded to companies that meet numeric thresholds set for the adopted criteria, and whose total revenues in 2012 amounted to PLN 100 million or more.

For the following criteria - growth in revenues, return on sales assets and equity, labour productivity as measured by valueadded output, total productivity of human, physical and financial capital - a threshold has been set of 10% of the average value of a given criterion calculated for companies with total revenues of 100 million or more.

In other words, the list of Pearls of the Polish Economy includes only the companies for which the numeric value of these six criteria is no lower than 10% of the average, and whose revenues are equal to or higher than PLN 100 million.

In order to ensure greater objectivity, companies entered on the list of “Pearls” have to fulfill one more criterion : their overall debt ratio must be below 90%. This way, a group of companies was formed that meet seven quality criteria, and one quantity criterion total revenues of at least PLN100 million. The ultimate condition for the companies to be ranked among the Pearls of the Polish economy is the availability of data.

The difference between the above-mentioned method of selecting the Pearls of the The method used to select Pearls of the Polish economy has been developed by Jan Macieja with the cooperation of Michał Zajfert.

1

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Polish economy, and other common rankings of the best companies is that in our study the number of companies is not assumed in advance, but changes almost every year. The advantage is that the ranking of the Pearls of the

“The difference between the above-mentioned method of selecting the “Pearls of Polish economy”, and other common rankings of the best companies is that in our study the number of companies is not assumed in advance, but changes almost every year.”

Polish economy, drawn up annually on the basis of the same criteria, can be a useful barometer of the mid-term economic outlook. If the number is going up of the companies with high growth in revenues, return on sales assets and equity, labour productivity as well as productivity of human, physical and financial capital, and low debt, then it means that the microeconomic foundations of economic growth are improving. And conversely, one

should be extremely skeptical about the optimistic forecasts if the number of the companies that meet these criteria is decreasing.

We are the first worldwide to be forging this important medium-term economic barometer. I want to stress that the increase in the number of “Pearls” in 2003-2005 was accompanied by a gradual increase in GDP growth in the following years.

Pearls of the Polish economy can easily be ranked according to the number of points granted for each criterion. For the first six criteria, the company which fares best in a given criterion receives the highest number of points (equal to the overall number of the Pearls of the Polish economy), and the weakest company is given one point. With regard to the last criterion (debt) points are allocated according to the pre-established function.

Most positive points are allotted to companies, in which the debt-to-total assets ratio ranges between 40% and 60 %.

Let me make the case for having chosen these particular criteria.

1. Growth in revenues has been defined

as a percentage increase in revenues from total operations. The argument in favour of the criterion is the ever increasing income diversification and globalization.

2. Return on sales shows what percentage of net sales is attributable to income, and what covers the costs. Without being burdened with past financial occurrences, such

Pearls of the Polish Economy

as extraordinary gains and losses, return on sales is a good measure of efficiency of current economic activity, and allows to evaluate the relevance of its vectors. Return on sales predetermines the return on assets and equity, as well as development spending. It is therefore an important factor of the company’s expansion.

3. Return on assets, calculated as a gross

profit-to-assets ratio, is a good measure of the efficiency of use of the company’s disposable resources. It takes account of both the company’s income (owner) and the state’s revenues (taxes) from employed resources. Recommended in literature and used in practice, the return on assets defined as the net income-to-assets ratio carries no useful cognitive values, has no economic substance and therefore does not make sense. Moreover, in Poland the imposing taxes on gross profit varies widely, which means that companies with the same efficient use of available resources (fixed and current assets) would have different statistical return-on-assets rates. It should be remembered that the high rate of return on assets (calculated gross) is an important prerequisite for high economic growth, since it involves a good use of a major part of social resources.

High labour productivity is therefore yet another important conditions for the allocation of capital in business.

bankruptcy. Without knowing the optimal level of total debt for the companies surveyed, the value of 40-60% has been adopted.

6. The overall debt. Every company has

The above review shows that these seven criteria allow a relatively objective selection of the Pearls of the Polish economy.

I want to point out that the selection is based on a computer algorithm developed by the Institute of Economics Polish Academy of Sciences (INE PAN) and the data provided by the companies. Consequently, the ranking is the only one in Poland not based on the subjective evaluations of a Jury. Any company can preview, using its own data, its place in the “Pearls” ranking. ::

a certain liabilities-to-assets ratio, which is optimal in a given time. When too low, the debt index usually points to excessive caution as far as expansion and development is concerned, and therefore makes it impossible to achieve high return on invested capital. When, in turn, excessively high, the debt level - except for the obligations of large retail chains to small suppliers and of daughter companies to mother companies - usually leads to an increase in running costs, and thus to a drop in the rate of return. It may also mark the beginning of

4. Return on invested capital allows an

investor to compare the current profitability of the capital invested in a variety of applications. It is an important attribute of the companies classified as “Pearls” because it affects individual development decisions. If the rate of return on economic activity is lower than the rate of return on government debt securities, then capital is withdrawn from business. It should be kept in mind that the high rate of return on equity resulting from high economic efficiency and low taxation is one of the most important pillars of the economic growth as such (and not only in a single company) as long as the investment risk (especially political) is not high.

5. Labour productivity is also one of the

most important conditions for business development and economic growth. Not only does it reduce the running costs, thus improving the company’s competitiveness, but it also prevents the downward trend in return on invested capital, something that was feared by the founding fathers of modern economics.

SPECIAL EDITION /2013 :: polish market :: 25

Pearls of the Polish Economy Contents

Pearls of the Polish Economy 2012 No.

Name of company

Based in

Score

Grand Pearls 1

GK LPP S.A.

Gdańsk

1100

2

GK Cyfrowy Polsat S.A.

Warsaw

1037

3

Totalizator Sportowy Sp. z o.o.

Warsaw

1035

4

CNH Polska Sp. z o.o.

Płock

985

5

Rossmann Supermarkety Drogeryjne Polska

Łódź

954

6

Aviva Towarzystwo Ubezpieczeń na Życie S.A.

Warsaw

940

7

International Paper-Kwidzyn Sp. z o.o.

Kwidzyn

933

8

Famur S.A.

Katowice

922

9

Synthos S.A.

Oświęcim

912

10

PCC Rokita S.A.

Brzeg Dolny

908

11

Provident Polska S.A.

Warsaw

880

12

Grupa Azoty Zakłady Azotowe Puławy S.A.

Puławy

868

13

KGHM Polska Miedź S.A.

Lubin

848

14

Mondi Świecie S.A.

Świecie

843

15

Valeo Polska

Skawina

802

16

Action S.A.

Warsaw

800

17

Bank Zachodni WBK S.A.

Wrocław

800

18

Bank Handlowy w Warszawie S.A.

Warsaw

792

19

Sitech Sp. z o.o.

Polkowice

789

20

BSH Sprzęt Gospodarstwa Domowego Sp. z o.o.

Warsaw

788

21

TVN S.A.

Warsaw

788

22

Santander Consumer Bank S.A.

Wrocław

785

23

Brenntag Polska Sp. z o.o.

Kędzierzyn-Koźle

783

24

Lubelski Węgiel Bogdanka S.A.

Puchaczów

782

25

PGE Górnictwo i Energetyka Konwencjonalna S.A.

Bełchatów

776

26

Polskie Górnictwo Naftowe i Gazownictwo S.A.

Warsaw

775

27

ABC Data S.A.

Warsaw

768

28

Miejskie Przedsiębiorstwo Wodociagów i Kanalizacji w m. st. Warszawie S.A.

Warsaw

766

29

GK CCC S.A.

Polkowice

763

30

PKO Bank Polski S.A.

Warsaw

748

31

Bank Polska Kasa Opieki S.A.

Warsaw

739

32

Jastrzębska Spółka Węglowa S.A.

Jastrzębie-Zdrój

734

33

Imperial Tobacco Polska S.A.

Jankowice

725

34

Grupa Azoty S.A.

Tarnów

720

35

Alior Bank S.A.

Warsaw

718

36

Bank Millennium S.A.

Warsaw

715

37

Orlen Gaz Sp. z o.o.

Płock

714

38

Tauron Polska Energia S.A.

Katowice

714

39

Amplico Life S.A.

Warsaw

713

40

ENEA S.A.

Poznań

704

41

ING Bank Śląski S.A.

Katowice

695

42

Credit Agricole Bank Polska S.A.

Wrocław

691

43

3M Poland Sp .z o.o.

Nadarzyn

690

44

ABB Sp. z o.o.

Warsaw

683

45

Polski Koncern Naftowy Orlen S.A.

Płock

676

46

Polskie Sieci Elektroenergetyczne S.A.

Konstancin-Jeziorna

673

47

Bank Gospodarki Żywnościowej Spółka Akcyjna

Warsaw

660

48

GK Energa S.A.

Gdańsk

657

49

Volkswagen Motor Polska Sp. z o.o.

Polkowice

653

50

Operator Gazociagów Przesyłowych Gaz-System S.A.

Warsaw

651

51

Orange Polska

Warsaw

651

52

Nordea Bank Polska S.A.

Gdynia

642

53

Osadkowski S.A.

Bierutów

633

26 :: polish market :: SPECIAL EDITION

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C

M

Y

CM

MY

CY

CMY

K

Pearls of the Polish Economy Contents No.

Name of company

Based in

Score

54

Grupa Kęty S.A.

Kęty

632

55

GK AB S.A.

Wrocław

616

56

TC Dębica S.A.

Dębica

609

57

Asseco Poland S.A.

Rzeszów

608

58

Getin Noble Bank S.A.

Warsaw

603

59

Budimex S.A.

Warsaw

577

60

Schenker Sp. z o.o.

Warsaw

574

61

Grupa Lotos S.A.

Gdańsk

569

62

Faurecia Wałbrzych Sp. z o.o.

Wałbrzych

567

63

Faurecia Automotive Polska S.A.

Grójec

549

64

Elektrobudowa S.A.

Katowice

539

65

Robert Bosch Sp. z o.o.

Warsaw

503

66

Spółdzielnia Mleczarska MLEKOVITA

Wysokie Mazowieckie

455

67

IMPEL S.A.

Wrocław

439

68

Kofola S.A.

Kutno

405

69

Nowa Itaka Sp. z o.o.

Opole

368

70

Emperia Holding S.A.

Lublin

349

71

Rafako S.A.

Racibórz

340

72

Fiat Auto Poland S.A.

Bielsko-Biała

336

73

GK Pelion S.A.

Łódź

314

74

Kompania Węglowa S.A.

Katowice

269

Large Pearls 1

Petrax Sp. z o.o.

Warsaw

1029

2

Wawel S.A.

Kraków

963

3

Z.A. Kombud S.A.

Radom

952

4

Festo Spółka z o.o.

Janki, outside Warsaw

913

5

Dom Development S.A.

Warsaw

912

6

Huta Łabędy S.A.

Gliwice

902

7

AC Spółka Akcyjna

Białystok

898

8

BZ WBK-Aviva Towarzystwo Ubezpieczeń Ogólnych S.A.

Poznań

872

9

Atal S.A.

Cieszyn

858

10

Amplico Powszechne Towarzystwo Emerytalne S.A.

Warsaw

840

11

SGL Carbon Polska S.A.

Racibórz

837

12

APATOR S.A.

Toruń

836

13

Polska Wytwórnia Papierów Wartościowych S.A.

Warsaw

827

14

DPD Polska Sp. z o.o.

Warsaw

821

15

Towarzystwo Ubezpieczeń na Życie Cardif Polska S.A.

Warsaw

814

16

Fabryka Farb i Lakierów Śnieżka S.A.

Lubzina

807

17

Gdańskie Przedsiębiorstwo Energetyki Cieplnej Sp. z o.o.

Gdańsk

802

18

DS SMITH POLSKA S.A.

Kielce

798

19

Tenneco Automotive Polska Sp z o.o.

Rybnik

795

20

Elemental Holding S.A.

Grodzisk Mazowiecki

778

21

Przedsiębiorstwo Eksploatacji Rurociągów Naftowych Przyjaźń S.A.

Płock

773

22

Radpol S.A.

Człuchów

770

23

BZ WBK-Aviva Towarzystwo Ubezpieczeń na Życie S.A.

Poznań

741

24

Compensa Towarzystwo Ubezpieczeń na Życie Spółka Akcyjna Vienna Insurance Group

Warsaw

741

25

Bank Pocztowy S.A.

Bydgoszcz

739

26

Faurecia Gorzów Sp. z o.o.

Gorzów Wlkp.

708

27

First Data Polska S.A.

Warsaw

703

28

ECHO INVESTMENT S.A.

Kielce

693

29

ZAP SZNAJDER BATTERIEN S.A.

Piastów

686

30

Faurecia Legnica Sp. z o.o.

Legnica

680

31

ALUMETAL S.A.

Kęty

674

32

Sarantis Polska S.A.

Piaseczno

672

33

Compensa Towarzystwo Ubezpieczeń Spółka Akcyjna Vienna Insurance Group

Warsaw

671

34

Regis Sp. z o.o.

Kraków

670

35

Luvena S.A.

Luboń

660

36

Multimedia Polska S.A.

Gdynia

653

37

Miejskie Przedsiębiorstwo Wodociągów i Kanalizacji SA in Kraków

Kraków

646

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Pearls of the Polish Economy Contents No.

Name of company

Based in

Score

38

JAS - FBG S.A.

Katowice

637

39

Novol Sp. z o.o.

Komorniki

632

40

Tramwaje Warszawskie Sp. z o.o

Warsaw

628

41

Grupa Kapitałowa ATM S.A.

Warsaw

600

42

Albo Sp z o.o.

Radom

594

43

ComArch S.A.

Kraków

576

44

Przedsiębiorstwo Budowy Kopalń PeBeKa S.A.

Lubin

576

45

Promag S.A.

Poznań

564

46

FABRYKI MEBLI FORTE S.A.

Ostrów Mazowiecka

557

47

Mostostal Puławy S.A.

Puławy

527

48

PRZEDSIĘBIORSTWO PAŃSTWOWE PORTY LOTNICZE

Warsaw

494

49

PIB Budecon S.A.

Sosnowiec

477

50

NTT System S.A.

Zakręt

472

51

Zarząd Morskiego Portu Gdynia S.A.

Gdynia

465

52

Przedsiębiorstwo Handlowe A-T S.A.

Krotoszyn

459

53

Europejski Fundusz Leasingowy S.A.

Wrocław

454

54

SIPMA S.A.

Lublin

451

55

Projprzem S.A.

Bydgoszcz

450

56

KGHM Zanam Sp. z o.o.

Polkowice

374

57

Górnośląskie Przedsiębiorstwo Wodociągów S.A.

Katowice

333

58

Koszalińskie Przedsiębiorstwo Przemysłu Drzewnego S.A.

Szczecinek

328

59

GK Ergis

Warsaw

314

60

Miejskie Zakłady Autobusowe Sp. z o.o.

Warsaw

291

61

Mirbud S.A.

Skierniewice

282

62

METRO WARSZAWSKIE Sp. z o.o.

Warsaw

274

Pearls of the manufacturing, extraction, energy and service sector 1

GK LPP S.A.

Gdańsk

1100

2

Totalizator Sportowy Sp z o.o.

Warsaw

1035

3

Petrax Sp. z o.o.

Warsaw

1029

4

CNH Polska Sp. z o.o.

Płock

985

5

Wawel S.A.

Kraków

963

6

Rossmann Supermarkety Drogeryjne Polska

Łódź

954

7

Z.A. Kombud S.A.

Radom

952

8

International Paper-Kwidzyn Sp. z o.o.

Kwidzyn

933

9

Famur S.A.

Katowice

922

10

Festo Sp. z o.o.

Janki /outside Warsaw

913

Pearls of the infrastructure sector 1

GK Cyfrowy Polsat S.A.

Warsaw

1037

2

Gdańskie Przedsiębiorstwo Energetyki Cieplnej Sp. z o.o.

Gdańsk

802

3

Polskie Górnictwo Naftowe i Gazownictwo S.A.

Warsaw

775

4

Przedsiębiorstwo Eksploatacji Rurociągów Naftowych Przyjaźń S.A.

Płock

773

5

Miejskie Przedsiębiorstwo Wodociagów i Kanalizacji w m. st. Warszawie S.A.

Warsaw

766

6

Tauron Polska Energia S.A.

Katowice

714

7

GK Enea

Poznań

704

8

Polskie Sieci Elektroenergetyczne S.A.

Konstancin-Jeziorna

673

9

GK Energa S.A.

Gdańsk

657

10

Multimedia Polska GK S.A.

Gdynia

653

Pearls of the financial (banking and insurance) sector 1

Aviva Towarzystwo Ubezpieczeń na Życie S.A.

Warsaw

940

2

Provident Polska S.A.

Warsaw

880

3

BZ WBK-Aviva Towarzystwo Ubezpieczeń Ogólnych S.A.

Poznań

872

4

Amplico Powszechne Towarzystwo Emerytalne S.A.

Warsaw

840

5

Towarzystwo Ubezpieczeń na Życie Cardif Polska S.A.

Warsaw

814

6

Bank Zachodni WBK S.A.

Wrocław

800

7

Bank Handlowy w Warszawie S.A.

Warsaw

792

8

Santander Consumer Bank S.A.

Wrocław

785

9

Powszechna Kasa Oszczędności Bank Polski S.A.

Warsaw

748

10

BZ WBK-Aviva Towarzystwo Ubezpieczeń na Życie S.A.

Poznań

741

30 :: polish market :: SPECIAL EDITION

/2013

Pearls of the Polish Economy

SPECIAL EDITION /2013 :: polish market :: 31

Pearls of the Polish Economy Contents

Pearls of Innovation – a new category in the Pearls of the Polish Economy ranking Leszek Rafalski, Prof. D. Sc., Eng. Chairman of the Main Council of the Research Institutes (RGIB) Member of the Contest Jury for the Progress Award

popularisation of innovative approaches in the economy.

The Pearls of Innovation fit the profile of the ranking perfectly – they emphasise the inseparable connection and the necessity of cooperation between science and business.

This is because the efforts to the improve innovative character of the products and services introduced into the Polish market, and the commercialisation of the research results, signify the intensification of cooperation between business and the R&D sector.

F

or 11 years, creative, successful companies have been selected in the ranking of Polish enterprises, the Pearls of the Polish Economy.

It should be emphasised that the ranking is prepared on the basis of scientific tools, which enable an objective assessment of the leading business entities.

This year – for the second time – the Progress 2013 Pearls of Innovation will be distributed. In this category the Jury, of which I am proud to be a member, grants awards to companies, institutions, scientific units and inventors whose results in work and research areas, as well as innovative solutions, allow them to be recognised as special ambassadors of innovation. This distinction contributes to the promotion, presentation and

32 :: polish market :: SPECIAL EDITION

/2013

“A significant step in the right direction would be to change the Act on personal and corporate income taxes, which would invite the financing of scientific research. “ The economy requires scientific institutions to build new relationships with business in terms of quality. Nonetheless, these links leave much to be desired. There is a need for tax mechanisms supporting entrepreneurs – including implementation and research tax reliefs. The Act on supporting innovative actions now in force functions inefficiently. Entrepreneurs are not inclined to finance research, which is burdened with too high a financial risk. A significant step in the right direction would be to change the Act on personal and corporate income taxes, which would invite the financing of scientific research.

The cooperation of science and research lies in using instruments motivating entrepreneurs to undertake actions allowing their development, based on the one hand on the implementation of R&D work results, and on the other on encouraging scientists to undertake research and development work focussed on the needs of entrepreneurs.

Being a representative of 118 research institutes conducting scientific research, most often applied, but also basic research, for the benefit of innovation in these fields of the Polish economy, healthcare, agriculture, defence and environmental protection - I am aware of the great potential of Polish research institutes. When you look at the scientific research carried out in our laboratories, and the inventions, discoveries, solutions, research methodology, enhancements in existing materials, technologies, etc. – which receive awards in numerous international contests – it seems that in respect of Polish creative potential, leading to the improvement of the innovation index, we are doing quite well.

Nonetheless, it should be noticed that innovation is a broad concept – it does not only stand for technologically advanced novelties such as mobile telephony, but also each new implementation, including in non-technical fields, for instance new treatment methods, plant cultivation, and administrative systems.

The Pearls of Innovation are a step to motivating the best for their talent, creativity, research passion - those without whom new technologies and innovative solutions would be non-existent in the Polish economy. ::

WE SPECIALISE IN: • paving work – pavements of natural stone, graniteand basalt setts, concrete slabs and setts; • traffic engineering – traffic system organisation design, road signs and markings; • green areas development – the development of greenery in parks and lawns; • playground construction – safety surfacing, playground equipment.

ZAKŁAD USŁUG BRUKARSKICH „ADROG” SP.J. ADAM DYBCIO, EUGENIA DYBCIO Registered office: 00-388 Warsaw, ul. Dobra 6 m. 14 Business office: 03-289 Warsaw, ul. Ostródzka 213 Tel. 0-22 510 70 60 Fax 0-22 510 70 70 biuro@adrog.com

Pearls of Innovation –

Progress 2013

From left: Błażej Grabowski(Polish Market), Krystyna Woźniak- Trzosek (Polish Market), Janusz Piechociński (Minister of Economy), Grażyna Jaskuła (Polish Market) and prof. Leszek Rafalski (Chairman of the Main Council of the Research Institutes)

This year’s is already the third edition of the competition for innovators representing enterprises, scientific establishments, institutions, and independent inventors. It is organised by the “Polish Market” magazine and the Main Council of the Research Institutes. The Council represents the scientific community, bringing together 118 research institutes in Poland and abroad.

The competition is open to enterprises, scientific establishments, institutions and inventors with their offices registered in Poland. The competition jury assesses the submitted projects in terms of their innovativeness and implementation method, as well as their impact on the economy and society, and also takes into account the participants’ achievements over the previous three years.

Andrzej Ołów, Director at Neurosoft Sp. z o.o.

Enterprise In the Enterprise category, the Progress 2013 award went to Neurosoft Sp. z o.o. The award was received by Director Andrzej Ołów.

Neurosoft Sp. z o.o. was awarded for NeuroCar 2.0 – a system for identifying overloaded vehicles in traffic. The application of a solution based on the video-identification of vehicles

34 :: polish market ::

12 /2013

Adam Dybcio, President of Zakład Usług Brukarskich Adrog

makes it possible to send to central management systems data on the vehicle such as a number plate, make and model.

Another award in the Enterprise category was granted to Zakład Usług Brukarskich “Adrog”. The award was received by President Adam Dybcio.

Zakład Usług Brukarskich “Adrog”, specialising in providing comprehensive road-works services, was awarded for the introduction

Xavier Douellou, Managing Director at 3M Poland

of mineral road surfaces. It is a low-cost and environment-friendly surface used in parks and roads. Walking does not wear it out, it lets through water and is available in a variety of colours. The company has laid pavements in places such as the Piłsudski Square, the Warsaw Old Town and Łazienki Park in Warsaw.

Yet another enterprise that received the award was 3M Poland, represented by Managing Director Xavier Douellou.

Błażej Grabowski (vice-president of Polish Market), Krystyna Woźniak- Trzosek (President of Polish Market), Janusz Piechociński (Deputy Prime Minister and Minister of Economy), Grażyna Jaskuła (vice-President of Polish Market) and Prof. Leszek Rafalski (Chairman of the Main Council of the Research Institutes) present the Progress 2013 Pearls of Innovation award in the Enterprise category to:

Andrzej Ołów, Director at Neurosoft Sp. z o.o.

Adam Dybcio, President of Zakład Usług Brukarskich Adrog

Currently 3M Poland employs over 1,700 people and its commercial package includes more

Konrad Pokutycki, President of BSH Sprzęt Gospodarstwa Domowego Sp. z o.o

than 10,000 products. 3M’s innovative products have considerably enhanced Poles’ living standards. The award was granted for the development of new abrasive wheels bonded with Cubitron grain. By applying an innovative triangular-shaped abrasive grain, processing efficiency has been much improved and tool service life extended.

Xavier Douellou, Managing Director at 3M Poland

Another winner of the Progress 2013 Pearl of Innovation award in the Enterprise cat-

Konrad Pokutycki, President of BSH Sprzęt Gospodarstwa Domowego Sp. z o.o

The Foundry Research Institute was awarded for the development of innovative technolo-

The laureates of the Progress 2013 Pearl of Innovation award in the Enterprise category

egory was BSH Sprzęt Gospodarstwa Domowego Sp. z o.o. The Company was represented by President Konrad Pokutycki.

BSH was awarded first of all for its innovative solutions in the area of environment protection. The technological solutions applied in devices produced by BSH enable its products to achieve the highest energy-saving parameters. BSH was one of the first companies in the home-appliances industry to introduce new energy-saving labels, as early as at the end of 2010.

gy for the forced solidification of castings. By applying this method, cast-machine components of top quality can be manufactured.

Scientific Establishment In the Scientific Establishment category, the Progress 2013 Pearl of Innovation award went to Prof. Jerzy Sobczak of the Foundry Research Institute and Prof. Małgorzata Syczewska of the Children’s Memorial Health Institute.

In the Scientific Establishment category the Progress 2013 Pearl of Innovation award went to the Foundry Research Institute. The award was received by Jerzy Sobczak, Director of the Institute.

Prof. Jerzy Sobczak, Foundry Research Institute

12/2013 :: polish market :: 35

Jerzy Sobczak (Foundry Research Institute) receiving the award from Krystyna Woźniak- Trzosek (Polish Market)

Małgorzata Syczewska, The Children’s Memorial Health Institute

work – numerous patents and research and development projects applied in the energy sector, municipal heating and the coke industry. The other aspect of Professor Ściążko’s activities recognised by the jury is his outstanding and constructive work on promot-

Krystyna Woźniak-Trzosek (Polish Market) presenting the Progress 2013 award to Prof. Małgorzata Syczewska (Children’s Memorial Health Institute)

of Electron Technology (ITE) and Chairman of the Council of the National Centre for Research and Development (NCBR) – The laureate is a professor of technical sciences specialising in the technologies of semi-conductor devices, combining his scientific work in

Another Progress 2013 Pearl of Innovation award in the Scientific Establishment category was granted to the Children’s Memorial Health Institute. The Institute was represented by Professor Małgorzata Syczewska.

The Children’s Memorial Health Institute is one of the largest specialist paediatric hospitals in Poland. Numerous innovative and highly-specialist medical procedures are performed there on the European scale. Particular success has been achieved in liver and kidney transplants in paediatric patients, and the Institute is the only establishment in Poland where such surgeries are performed.

Inventors The last category of the Progress awards is for Inventors. The Progress 2013 Pearl of Innovation award went to Associate Professor Marek Ściążko, DSc, Eng a long-time Director of the Institute for Chemical Processing of Coal.

Professor Ściążko was granted the award for his achievements in two different fields. The first is clean-coal technologies – for the innovativeness of his research and implementation

Janusz Piechociński,Minister of Econony presenting the Pearls of Innovation- PROGRESS 2013 to Prof. Marek Ściążko, Ph.D., Eng

36 :: polish market ::

12 /2013

Prof. Marek Ściążko, DSc, Eng (AGH University of Science and Technology)

ing innovation in Poland – as Chairman of the Innovation and Implementation Commission of the Main Council of the Research Institutes.

The Progress 2013 Pearl of Innovation award was also granted to Professor Jerzy Kątcki, D. Sc., Eng., Vice-Director of the Institute

Janusz Piechociński,presenting the Pearls of Innovation- PROGRESS 2013 to Prof. Jerzy Kątcki, D.Sc., Eng

Prof. Jerzy Kątcki, D.Sc., Eng ( Vice-Director of the Institute of Electron Technology (ITE) and the Chairman of the Council of the National Centre for Research and Development (NCBR)

the area of nanostructures and nanoelectronic devices with his involvement in promoting research in Poland, as Chairman of the Council of the National Centre for Research and Development. Professor Kątcki has been involved in the development of innovative methods for characterising semiconductor structures and devices implemented in the laboratories of the Institute of Electron Technology. These methods make it possible to optimise advanced production technologies for semi-conductor lasers, detectors, micro- and nano-systems, and innovative electronic and photonic devices. ::

PERŁY POLSKIEJ GOSPODARKI

Prestiżowy ranking polskich przedsiębiorstw

WE EXTEND A WARM THANK YOU TO OUR SPONSORS, PARTNERS, AND MEDIA PATRONS FOR THEIR COOPERATION IN ORGANISING

PEARLS OF THE POLISH ECONOMY GALA. THE 11TH

Pearls of the Polish Economy Contents

Honorary Pearls 2006-2013 The Jury of the Honorary Pearls Prof. Jerzy Buzek

Prof. Andrzej Rottermund

former Prime Minister and former President of the European Parliament

Director of the Royal Castle in Warsaw

Tadeusz Donocik

Adam Szejnfeld

President of the Chamber of Commerce and Industry in Katowice

Chairman of the Sejm Treasury Committee

Grażyna Jaskuła

Janusz Steinhoff, PhD

Vice-President of Oficyna Wydawnicza Rynek Polski

former deputy Prime Minister and Minister of the Economy;

Prof. Janusz Lipkowski

Prof. Andrzej Wiszniewski

Chairman of the Jury

former President of the State Committee for Scientific Research, former Minister of Science and former Rector of the Wrocław University of Technology

Prof. Ksawery Piwocki former Rector of the Academy of Fine Arts in Warsaw

Economy Henryk Strzelecki

founder of Henri Lloyd

Henri Lloyd Polska Sp. z o.o.

2006

The Warsaw Stock Exchange

Giełda Papierów Wartościowych w Warszawie S.A.

2007

Wiesław Rozłucki Ludwik Sobolewski Jacek Socha Janusz Steinhoff, DSc, Eng.

Deputy Prime Minister and Minister of Economy in the Jerzy Buzek government

Prof. Maciej Nowicki

ecologist, scientist and social campaigner, twotime Minister of the Environment

Janusz Lewandowski

Commissioner for Financial Programming and European Commission the Budget

2010

Prof. Marek Belka

President of the National Bank of Poland

National Bank of Poland

2011

Prof. Zbigniew Hockuba

economist

European Bank for Reconstruction and Development

2012

Paweł Olechnowicz

manager

The Lotos Group S.A.

2012

Herbert Wirth, DSc, Eng.

manager

KGHM Polska Miedź S.A.

2013

Zygmunt Solorz-Żak

businessman

Grupa Kapitałowa Cyfrowy Polsat S.A.

2013

Jan Kulczyk, PhD

businessman

Kulczyk Holding S.A.

2013

38 :: polish market :: SPECIAL EDITION

/2013

2008

EkoFundusz Foundation

2009

Pearls of the Polish Economy

Science Prof. Henryk Skarżyński

surgeon and otolaryngologist

Institute of Physiology and Pathology of Hearing

2006

Prof. Alicja Chybicka

head of the Clinic of Paediatric Oncology

Department of Bone Marrow Transplantation, Oncology and Hematology at Wrocław Medical University

2007

Prof. Jan Lubiński

physician specialising in pathomorphology and clinical genetics

Pomeranian Medical University

2008

Prof. Maria Siemionow

transplant surgeon

Cleveland Clinic Lerner College of Medicine

2009

Prof. Bogdan Marciniec

scientist and chemist

Department of Chemistry at Adam Mickiewicz University in Poznań

2009

Prof. Karol Myśliwiec

egyptologist

Institute of Mediterranean and Oriental Cultures of the Polish Academy of Sciences

2010

Prof. Marian Zembala

cardiovascular surgeon, Director of the Silesian Centre for Heart Diseases in Zabrze

Silesian Centre for Heart Diseases

2010

Prof. Witold Rużyłło

cardiac surgeon, President of the Polish Cardiac Society

Polish Cardiac Society

2011

Prof. Krzysztof Matyjaszewski

chemist and scientist

Carnegie Mellon University Department of Chemistry

2011

Prof. Marek Krawczyk

transplant surgeon and Rector of the Medical University of Warsaw

Medical University of Warsaw

2012

Prof. Andrzej Buko

an archaeologist

Polish Academy of Sciences; Director of the Insitute of Archaeology and Ethnology

2012

Prof. Bogusław Maciejewski

Director of the Cancer Centre and Institue Maria Skłodowska-Curie Memorial Cancer Centre and of Oncology Institute of Oncology Gliwice Branch

2013

Prof. Tomasz Dietl

physicist

Insitute of Physics of the Polish Academy of Sciences

2013

Prof. Stanisław Woś

cardiovascular surgeon

Upper Silesian Medical Centre, the Clinic of Cardiology in Katowice

2013

Culture Wojciech Kilar

classical and film music composer

2006

Urszula Dudziak

jazz vocalist

2007

Małgorzata Walewska

mezzo-soprano singer

2008

Anna Maria Jopek

vocalist, pianist and composer

2009

Łukasz Kuropaczewski

classical guitarist

2009

Marek Torzewski

opera singer – tenor

2009

Janusz Olejniczak

pianist

2010

Marcin Bronikowski

opera singer - baritone

2010

Warsaw Philharmonic Choir

choir

2011 SPECIAL EDITION /2013 :: polish market :: 39

Pearls of the Polish Economy Contents Krystyna Janda

actor

Polonia Theatre

2011

Jerzy Skolimowski

film director and actor

Jacek Sykulski and the Poznań Boys' Choir

Choir Director

Maryla Rodowicz

singer

Teatr Telewizji

TV Theatre

Bernard Ładysz

opera artist, bass

2012

Jerzy Stuhr

actor

2012

Czesława Frejlich

Editor-in-chief of 2+3D

2012

Jerzy Maksymiuk

conductor and pianist

2013

The Academic Choir of Adam Mickiewicz University in Poznań

choir

2013

Prof. Mirosław Bałka

sculptor

2013

Ewa Gołębiowska

Director of the Silesian Castle of Art and Entrepreneurship

2010

Michał Stefanowski

designer

2011

Adam Spała

director of a porcelain factory

2011 Poznań Boys' Choir

2012

2012 Polish Television

2012

Applied arts

AS Ćmielów

2012

Promotion of Polish tradition and patriotic values Jan Ołdakowski

Director of the Warsaw Rising Museum

Warsaw Rising Museum

2006

Ryszard Kaczorowski

former President of Poland in exile

Prof. Norman Davies

English historian

Tadeusz Mazowiecki

the first prime minister in the Third Polish Republic

2009

Adam Stefan Zamoyski

British historian of Polish descent

2010

Jerzy Woźniak

Home Army (AK) soldier

2011

Franciszek Tomasz Ludwin

Home Army (AK) soldier

2012

Gyorgy Spiro

prosaist, playwright and translator

2013

Władysław Bartoszewski

politician, historian writer and social activist Auschwitz prisoner during World War II

2007 University of London

Secretary of State, Prime Minister’s Special Representative for International Dialogue

2008

2013

Promotion of social values Partita Band

music band supporting disabled children

40 :: polish market :: SPECIAL EDITION

/2013

2007

Pearls of the Polish Economy ProOmnibus Foundation

Foundation of Initiatives for Disabled Children

2007

TVN “Nie jesteś sam” (You Are not Alone) Foundation

2008

Polpharma Scientific Foundation

2008

Jerzy Owsiak

radio and TV journalist, founder of the Great Orchestra of Christmas Charity

Great Orchestra of Christmas Charity

2009

Janina Ochojska

humanitarian campaigner, founder of Polish Humanitarian Action

Polish Humanitarian Action

2010

2011

Polsat Foundation Janusz Sobieraj

businessman

President of Radex S.A.

2011

Bożena Kazanowska

foundation establisher

Jasne Strony Fundation

2012

Jerzy Starak

businessman

founder of the Spectra Art Space

2013

Special Honorary Pearl Sławomir Skrzypek

President of the National Bank of Poland

National Bank of Poland

2009

Prof. Jerzy Buzek

former Prime Minister of Poland, former President of European Parliament

European Parliament

2011

Prof. Henryk Skarżyński

Founder of World Hearing Center, an outstanding surgeon and otolaryngologist

World Hearing Center

2012

Waldemar Dąbrowski

Director of the National Theatre in Warsaw

Wielki Theatre - Polish National Opera in Warsaw

2013 ADVERTISEMENT

LILI PROJEKT

PROJECT MANUfACTURE

ADVERTISMENT LOGOTYPE DTP ARCHITECTURE PHOTOGRAPHY MEDIA WEBDESIGN SCRAPBOOKING

SPECIAL EDITION /2013 :: polish market :: 41

L I L I P R OJ E K T. P L

Pearls of the Polish Economy Contents

An extraordinary business model the key to success Krzysztof Charchuła, President of the Management Board of BZ WBK-Aviva Insurance Companies

It is one more consecutive year when BZ WBK-Aviva TU finds itself in the top three of the Pearls of the Polish Economy ranking. What factors, in your opinion, have contributed to this success?

We owe this to a number of factors. First and foremost, to the consistently implemented company development strategy, including in particular the continuous extension of the insurance package available at the bank, which is valued by customers. Constantly refining the customer service processes is also of prime importance to us – from after-sales support, through maintaining customer relations in terms of the policy, to the effective and friendly resolution of claims.

The title of Pearl of the Polish Economy is a great honour for us, but most of all it is a way of recognising the high efficiency of our activities and our consistent business development –that is the result of employing our entire team. pm

BZ WBK-Aviva TU is still an unusual business model on the Polish market.

What are its principal advantages?

Running a business with a partnership of an insurer and a bank is a massive advantage, mainly thanks to the involvement of both parties. In such alliances, in addition to the full integration of processes, the sales strategy is jointly managed, which translates into efficiency and better adaptation to customer demands. Long-term cooperation between a bank and an insurer considerably pm

42 :: polish market :: SPECIAL EDITION

/2013

improves the attitude towards customers in terms of providing services at all stages. I’m sure that the partnership model, in which a bank and an insurer work together for a longer period of time, is the way to go. This works like a charm in our cooperation between BZ WBK-Aviva Insurance Companies and Bank Zachodni WBK, which is the only such joint venture in Poland.

What does this model of cooperation with a bank look like?

Being part of the Bank Zachodni WBK group we understand the needs and priorities of a bank and the specifics of a bank customer. We adjust our product package accordingly, working to improve the sales skills of bank advisors and actively supporting the marketing of insurance policies. Jointly with the bank we decide on the final shape of our banking and insurance package. Our rapid business growth is clearly a result of the fruitful cooperation we have had with Bank Zachodni WBK. pm

Interest among customers in buying insurance policies in banks is growing each year. Where does this trend come from?

It is the effect of growing insurance awareness among the Poles, the improving risk-protection package and the numerous advantages of concluding insurance agreements this way. Until recently the insurance package of banks featured exclusively policies connected with taking out loans. This group is primarily pm

composed of credit, credit and debit card and savings-account insurance.

Increasingly often, banks are also providing other types of insurance connected directly with products and designed to respond to a variety of insurance needs of their customers, not only in respect of protection from undesired events, but also with regard to investment and financial protection for the future. Cooperation between insurance companies and banks, in which the latter provide insurance products, known as bancassurance, has a lot of advantages not just for institutions, but also for customers using the services of banks.

What are your goals for 2014?

Customer service is the top priority. Our goals in this area are very ambitious and we want to achieve a high standard in our claims-processing services. We have already made available simplified procedures for home insurance accessed by telephone, which means that a claim can be processed in a matter of few days. In the coming year we are also planning to enhance our product portfolio and further increase our sales.

To sum up, achieving a high operating efficiency and continuing our consistent business growth remain our priorities. We would very much like to be listed among the leaders of the Pearls of the Polish Economy ranking again. :: pm

Pearls of the Polish Economy Contents

Partner in the automation of manufacturing and industrial processes

F

esto is an innovation leader in industrial automation. Launching a yearly total of approx. 100 new products worldwide and having 2,900 patents, it provides the highest productivity in manufacturing and technology processes automation. Furthermore, Festo is at the forefront of the industrial training and education programs. Thanks to pneumatic, servo-pneumatic and electric drives, as well as various application-oriented services, it has suitable solutions for a wide array of applications. Its offer includes works tailored to individual requirements of the customers

Mechatronic Application Center in Janki near Warsaw

Showing to the customers how the handling system works

such as specialized actuators, complete drive and steering units, handling systems, control panels. Every year, Festo develops about 10,000 new applications geared to the specific needs of its customers around the world. Its ability to innovate comes as a result of putting into practice the latest available technological solutions.

The example of application of Tripod EXPT gantries tested in Festo’s Application Center and installed in one of the dairy companies in Poland – packing wedged cheese in cardboard packaging.

44 :: polish market :: SPECIAL EDITION

/2013

In 2012, Festo Sp. z o.o. launched the Mechatronic Application Center located on its premises in Janki near Warsaw. It is one of the first Festo’s research and training centers of this type in Central and Eastern Europe.

It makes it possible to get familiar with the latest technological developments in the field of automation, robotics and steering on the example of real industrial applications.

The Mechatronic Application Center allows to configure and actuate: • electric drives with stepper and servo motors, • pneumatic grippers, •drivers with motion and robotics functions, • machine vision (MV), • industrial network communication, • operator panels.

Festo’s Application Center responds to the real needs of the market in two areas.

Firstly, it runs trainings and internships and thereby fulfills the educational mission of the company. Secondly, it simplifies decisionmaking processes on the customer side by offering tests of investments and applications on Festo-made handling systems.

Educational activities pursued by the Application Center are directed both to business customers and to university students. Companies interested in cooperation with Festo are offered practical training packages that

make it possible to get acquainted with the functionality of the equipment. In the case of students, the Application Center acts as a bridge between theoretical knowledge and industrial practice. Festo’s versatile, modern facilities, flexible software and experienced engineering team guarantee a high level of training and effective practical exercises.

As regards assistance in decision-making processes, Festo Application Center is one of the few in Poland to present customers a handling solution in practice before the transaction is executed. It has been equipped with a set of three gantries with special demo versions of applications offered. As a result, customers receive the actual confirmation of the efficiency and precision declared in the offer.

Moreover, testing the application at this stage avoids difficult-to-predict complications resulting from errors in assumptions or technical limitations.

Launching the Application Center has defined a new standard in the field of active cooperation with customers on the automation market. As a leader in providing innovative solutions, Festo makes every effort to ensure that customers’ productivity is continually increasing. ::

www.festo.pl