Annual report

of Capital Group LUG S.A.


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A Letter from the President

2015 was a time of ambitious organic growth projects and efforts aimed at strengthening our presence on the international market for professional luminaires.

Ryszard Wtorkowski
President of LUG S.A. Management Board

LUG S.A. Capital Group

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The Group’s parent company is LUG S.A., performing management and control functions with respect to other subsidiaries.

The Company was established in 1989 as a civil law partnership. At present, it holds 100% of shares in subsidiaries, with the exception of LUG do Brazil Ltda. in which it holds 65% of shares.

  • logo LUG Light Factory
  • logo LUG GmbH
  • logo LUG do Brazil Ltda
  • logo LUG Lighting UK Ltd
  • logo TOW LUG Ukraina

of shares

On 01.08.2008, the subsidiary LUG Light Factory Sp. z o.o. took over the existing operations carried out by the Issuer and is involved in designing, implementing, producing and selling luminaires.

of shares

Since 11.09.2008, LUG GmbH has been an element of the foreign trade organisation of the LUG S.A. Capital Group and focuses on selling and promoting products on the German market.

of shares

On 29.06.2012 the newly established company LUG do Brazil Ltda joined the Group. The development targets of the LUG S.A. Capital Group, based on a thorough analysis of the prospects for the Brazilian economy, were a key factor in the decision to establish a company in one of the economically most important and most significant investments in the country. The aim of the new company in the LUG S.A. Capital Group is to strengthen the company’s presence on South American markets.

of shares

LUG Lighting UK Ltd. Established in 10.09.2013. Previously, for about two years, LUG’s sales office operated effectively in London. LUG Lighting UK Ltd provides a base for the further increase of sales in the UK and Ireland and will also enable qualifications necessary to establish LUG’s consultancy and sales centre to be developed. The completion of formalities and the start of operations deliberately coincides with the opening of the advanced showroom of luminaires at the registered office of the new company LUG Lighting UK Ltd in London.

of shares

T.O.W. LUG Ukraine was established in 2005 and was engaged in sales of LUG fixtures on the Ukrainian market. Presently, the company’s activities are suspended due to difficult conditions for business in Ukraine connected with the poor financial standing of the country, a general failure to respect legal regulations, and corruption.

LUG S.A. Management Board

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  • Ryszard Wtorkowski
    President of LUG S.A. Management Board

  • Mariusz Ejsmont
    Vice-president of the Management Board
    Technical Director

  • Małgorzata Konys
    Member of the Management Board,
    Financial Director

LUG S.A. Supervisory Board

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Other members of the Supervisory Board

Iwona Wtorkowska
Chairman of the
Supervisory Board

  • Renata Baczańska
    Member of the
    Supervisory Board

  • Zygmunt Ćwik
    Member of the
    Supervisory Board

  • Radosław Rejman
    Członek Rady

  • Eryk Wtorkowski
    Member of the
    Supervisory Board

  • Szymon Zioło
    Member of the
    Supervisory Board





Employment structure by gender



Employment structure by education





Age average

37 years and    6 months

LUG’s stock market history

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  • LUG’s debut on the NewConnect market


  • Transfer of operations to new headquarters (achieving the issue target)


  • The Issuer’s victory in the Golden Website competition


  • A new fund in the LUG share ownership structure
  • LUG stock split in accordance with the parity 1:4
  • Series C share issue


  • Start of procedure to transfer listings to Warsaw Stock Exchange


  • Payment of the first dividend in the company’s stock market history
  • LUG reverse stock split in accordance with the parity 25:1


  • The first Annual online report on NewConnect
  • LUG’s shares are included in the NCIndex30 index and belong to the NCLead segment
  • Golden Website VI Award
  • Award The Best Annual Report 2012
  • Expansion of the factory with the construction of a LED component production hall


  • Start of construction of new factory
  • Golden Website VII Award
  • Award The Best Annual Report 2013


  • Completion of construction of new factory — launching of a research and development centre
  • NGolden Website VIII Award
  • The Best Annual Report 2014 Award
  • 2007

  • 2008

  • 2009

  • 2010

  • 2011

  • 2012

  • 2013

  • 2014

  • 2015

Awards and distinctions

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Award for the Best Lighting Investment 2014 in the Best Investment category

Award for the Best Lighting Investment 2014 in the Lighting Equipment Manufacturers category

Distinction awarded by the Mayor of Zielona Góra to Ryszard Wtorkowski for activities connected with sports patronage in Lubuskie Province.

Lubuskie Business Leader title awarded by the Polish Chamber of Commerce, under the patronage of the Ministry of the Economy of the Republic of Poland

Good Design 2015 Award — distinction for the URBANO LED fixture in the Public Sphere category

The Most Innovative Exporter is a commendation awarded in Rzeczpospolita's plebiscite, based on votes from representatives of companies exporting products outside Polish borders.

The Best Exporter is an award in Orły Eksportu Województwa Lubelskiego contest, sponsored by County Marshal.

The Best Annual Report 2014 – main award

Golden Website VIII

Friend of Ronald McDonald’s Foundation

Research and development work

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of the LUG S.A. Capital Group mainly involves designing new products, testing their parameters and improving the parameters of products already on offer.

research and development centre

In December 2015, the Development Department and Electronic Department started operating in a new research and development centre located in the company’s new factory in Nowy Kisielin. At the turn of January 2016, the photo-optic laboratory was relocated and launched in a new location. The production of LED electronic equipment was launched in a facility located in Nowy Kisielin in January 2016.

  • Research and Development Center with electronics production hall park and storage space

design and conceptual work

The design and conceptual work of the LUG S.A. Capital Group currently focuses on intensively developing the portfolio of new products with the use of LED technology.

The basis of those operations are tests as a result of which

  • hundreds of materials, components and electronic subassemblies were analysed

  • several dozen new designs of optical systems were prepared

  • several dozen new LED cooling systems were designed


In the laboratory, fixtures and components are tested mainly for safe use. The tests include thermal conditions, tightness of fixtures (IP level), resistance to mechanical damage (IK level), wear and tear of plastics, as well as all electric parameters. The laboratory of the LUG S.A. Capital Group is equipped with a draught-tight chamber for testing thermal luminaires for compliance with standard PN-EN 60598-1 as well as equipment for testing combustibility of materials using the glow wire ignition (GWT) method for compliance with standard PN-EN 60695-2-10. Also, the chamber for heat testing enables tests to be carried out for wear and tear of plastics, which, combined with exposing samples to UV light, makes it possible to conduct a durability simulation for plastics over a period of time. The laboratory also includes a photometric dark room equipped with a top-class automatic system giving very precise measurements of light distribution curves of luminaires and other sources of light (C-gamma goniophotometer). The laboratory has been fully adapted to meet the needs of a broad quality-control spectrum for products. Additionally, in 2015 it was extended with a new laboratory for testing the tightness of fixtures, and new measuring equipment was purchased, such as a flickering meter (used to measure the flicker ratio of light that directly affects human well-being) or a portable spectrometer.

Tests carried out in the LUG laboratory in 2015

  • 280

    tests connected with safety

  • 1243

    photometric tests

Production costs optimisation

Another direction of the tests being done is optimising the production costs of LED fixtures. As part of these operations, the Company constructed a new factory in the Technological Park in Nowy Kisielin in 2015, and relocated the R&D Department, Laboratory, production facilities and LED component warehouse to this factory. At present, the Company’s own production of LED modules enables LUG luminaires with high luminous efficiency and a unique design to be dynamically developed, taking production costs optimisation into account. The operations are currently producing measurable effects in the form of non-dependence on suppliers and ideally matching LUG luminaires to customers’ needs under the “customisation” policy implemented. Another effect of the development work carried out is a greater availability of LED modules and the possibility of flexibly reacting to market needs, which builds the LUG S.A. Capital Group’s competitive advantage over importers of fixtures.

  • The Company’s own production of LED modules enables LUG luminaires to be dynamically developed