Work Service S.A. submits prospectus to Polish Financial Supervisory Authority
On May 24, 2011, Work Service Group S.A. submitted the company’s prospectus to the Poland’s Financial Supervisory Commission. Work Service S.A. expects timely approval to continue the IPO process and listing of the company’s shares on the Warsaw Stock Exchange (GPW). The imminent début will make Work Service the first HR company listed on the GPW.
„The filing of the prospectus completes an important step in realizing the agreement between Work Service’s S.A. major shareholders as well as the listing of the Company's shares on the Warsaw Stock Exchange. In filing the prospectus, Work Service S.A. joins other dynamically growing enterprises that fund their growth and development with capital raised from the market” stated Mr. Tomasz Hanczarek, CEO Work Service S.A. He continued that „we’ve earned the position as the number one HR company in Poland. We will dedicate the funds generated from market entry in continuing to strengthening our leading domestic position as well as strengthening our strong presence in other Central European countries. We can achieve these goals by purchasing other companies in Poland’s highly fragmented HR sector as well as an aggressive entry into the recently opened European labor markets”.
Dariusz Rochman, the Group’s Vice President, adds that “The Polish temporary work market has exploded in recent years, but the real growth is yet to come. Experts predict that the demand for HR services will double within the next five years, catching Poland up with the rest of the EU”.
In 2010, Work Service’s revenues reached nearly 500 million PLN, representing an increase of 38.3% from 2008. Net profit increased by nearly 200% to 15.7 million PLN . The company employs over 400 people, not counting over a hundred thousand contracted temporary workers.
The Group has selected IDM S.A, one of the largest and most successful brokerage houses in Poland, as its advisor, responsible for preparing the début as well as the initial share offering.
A consistently implemented strategy and reputation for innovation has won the company many prestigious awards, including Entrepreneur of the Year, Business Leader, Business Gazelle, Teraz Poland and the Master of Business.
Work Service S.A. provides comprehensive human resource management solutions ranging from permanent placement and temporary staffing, to outplacement and outsourcing services. Our team’s success in creating and implementing cost effective HR solutions on behalf of the region’s leading companies positions the Group as Poland’s market leader as well as a major operator in 5 neighboring countries. Since 1999, our dedicated consultants have earned the trust of more than 2000 companies that continuously select Work Service as their long-term HR partner. This solid partnership secures meaningful employment for nearly 150,000 people annually, thus empowering Work Service to live up to its mission of “linking the best with the brightest”.
More information
Krzysztof Inglot
Press Officer
Phone: +[48] (71) 37 10 927
Mobile: +[48] (0) 508 040 345
E-Mail: krzysztof.inglot@workservice.pl
