{"id":154876,"date":"2022-10-26T10:15:47","date_gmt":"2022-10-26T10:15:47","guid":{"rendered":"https:\/\/bdm-stg.mda.pl\/informacje-prasowe\/commentary-by-artur-popko-president-of-the-management-board-of-budimex-sa-on-the-financial-data-of-the-budimex-group-for-the-three-quarters-of-2022\/"},"modified":"2024-06-07T11:20:50","modified_gmt":"2024-06-07T11:20:50","slug":"commentary-by-artur-popko-president-of-the-management-board-of-budimex-sa-on-the-financial-data-of-the-budimex-group-for-the-three-quarters-of-2022","status":"publish","type":"press","link":"https:\/\/bdm-stg.mda.pl\/en\/press\/commentary-by-artur-popko-president-of-the-management-board-of-budimex-sa-on-the-financial-data-of-the-budimex-group-for-the-three-quarters-of-2022\/","title":{"rendered":"Commentary by Artur Popko, President of the Management Board of Budimex SA, on the financial data of the Budimex Group for the three quarters of 2022"},"content":{"rendered":"\n
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26.10.2022<\/p>\n

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Commentary by\u00a0Artur Popko, President of the Management Board of Budimex SA, on\u00a0the financial data of the Budimex Group for the three quarters of 2022<\/h2>\n

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The Budimex Group generated an operating profit of PLN 417 million with a\u00a0margin of 6.5%, while in\u00a0the first quarter of this year the operating profitability reached 3.6%, and in\u00a0the second and third quarters it was already 7.4% and 7.7%, respectively.<\/p>\n

The gross profit of the Budimex Group amounted to\u00a0PLN 466 million with a\u00a0margin of 7.3%. Profitability at\u00a0the level of gross profit was supported by\u00a0a\u00a0significant improvement in\u00a0the result on\u00a0financing activities, especially in\u00a0the second and third quarters, which is the result of an increase in\u00a0the average interest rate on\u00a0cash deposited by\u00a0the Budimex Group.<\/p>\n

\"3Q2022<\/p>\n

The Budimex Group records an increase in\u00a0the Group\u2019s sales revenues at\u00a0the level of 15.1%, mainly due to\u00a0the larger scale of sales in\u00a0the construction segment, in\u00a0 particular in\u00a0the area of cubature construction and in\u00a0Mostostal Krak\u00f3w. In\u00a0the service part, revenues were similar to\u00a0the previous year. \u00a0<\/p>\n

Construction and assembly production in\u00a0Poland for the first three quarters of 2022 <\/strong>(in\u00a0current prices) increased by\u00a022.2% year-on-year<\/strong> from PLN 77.4 billion in\u00a02021 to\u00a0PLN 94.5 billion in\u00a02022<\/strong>. In\u00a0the buildings segment, sold production increased by\u00a0as\u00a0much as\u00a030.2%, while in\u00a0the infrastructure area the increase was 14.3%.<\/p>\n

\"3Q2022<\/p>\n

Sales of the construction segment of the Budimex Group amounted to\u00a0PLN 5 billion 809 million.<\/strong><\/p>\n

\"3Q2022<\/strong>Despite market difficulties resulting from disrupted supply chains, sales in\u00a0the first three quarters of 2022 in\u00a0the construction segment were noticeably higher than in\u00a0the corresponding period of the previous year. A\u00a0high order book at\u00a0the beginning of 2022, a\u00a0well-thought-out purchasing policy and favorable weather conditions allowed us to\u00a0increase revenues by\u00a0over 13%.<\/p>\n

In\u00a0the last quarter, we\u00a0observed a\u00a0stabilization of prices of key assortments, and in\u00a0some cases (m.in.\u00a0steel) a\u00a0decrease in\u00a0prices, compared to\u00a0the levels recorded a\u00a0few weeks after the outbreak of the war. A\u00a0responsible contracting strategy and a\u00a0tailored purchasing strategy allowed us to\u00a0reduce losses related\u00a0 to\u00a0the current market situation to\u00a0a\u00a0minimum. The budgets of all our projects are updated on\u00a0an ongoing basis, and \u00a0thanks to\u00a0the good profitability of contracts at\u00a0the last stages of implementation, the profitability of the portfolio remains stable.<\/p>\n

During the first three quarters of 2022, we\u00a0obtained contracts worth PLN 4.6 billion. The Budimex Group\u2019s order book at\u00a0the end of September 2022 amounted to\u00a0PLN 12.5 billion and secures the work front until the end of 2023.<\/p>\n

Intensive work on\u00a0the acquisition of new projects meant that the value of projects signed in\u00a0October 2022 and awaiting signing amounted to\u00a0over PLN 3 billion, which should ensure the stability of the order portfolio. These contracts include m.in.\u00a0construction of such facilities as\u00a0the S17 Piaski-Hrebenne expressway (2 sections with a\u00a0total value of PLN 845 million), the D1 Bratislava-Triblavina motorway in\u00a0Slovakia (PLN 519 million), the Military Hospital in\u00a0Krak\u00f3w (PLN 368 million) or\u00a0the 104 Chab\u00f3wka-Nowy S\u0105cz railway line (PLN 366 million).<\/p>\n

The Budimex Group ended the third quarter of 2022 with a\u00a0net cash position of PLN 2.2 billion. In\u00a0June 2022, we\u00a0paid the remaining dividend for 2021 in\u00a0the amount of PLN 23.47 per share. Thus, the total dividend for 2021 per share amounted to\u00a0a\u00a0record PLN 38.37.<\/p>\n

After three quarters, the FBSerwis Group maintained a\u00a0high level of sales revenues while maintaining good profitability.<\/strong><\/p>\n

\"3Q2022<\/strong>The revenues of the FBSerwis Group, which is a\u00a0key asset in\u00a0the service segment (the results of the service part also include the activities of several smaller companies, including Budimex Parking Wroc\u0142aw), amounted to\u00a0PLN 573 million and were slightly higher than in\u00a0the corresponding period of the previous year. The operating profit of the FBSerwis Group amounted to\u00a0PLN 64 million with a\u00a0margin of 11.2% compared to\u00a013.8% in\u00a0 the corresponding period of the previous year, while in\u00a0the third quarter alone the profitability improved and was higher than in\u00a0the third quarter of the previous year.<\/p>\n

Intensive work on\u00a0acquiring new orders, especially in\u00a0the infrastructure maintenance segment, allowed us to\u00a0significantly expand the order portfolio, which should translate into an increase in\u00a0revenues in\u00a0the coming quarters. We\u00a0continue the investments we\u00a0have started in\u00a0the expansion of existing waste processing installations and landfills. At\u00a0the same time, we\u00a0are integrating the entity acquired a\u00a0few months ago within the Group\u2019s structure, thus strengthening our position in\u00a0the environmental services segment.<\/p>\n

Market forecast<\/strong><\/p>\n

In\u00a0the coming quarters, we\u00a0will closely observe further developments in\u00a0the macroeconomic situation.<\/p>\n

The current portfolio of orders of the Budimex Group fully secures the work front until the end of 2023, and the newly acquired contracts (in\u00a0particular orders in\u00a0the \u201cdesign and build\u201d formula) build strong foundations for operations for 2024-2025. This is particularly important in\u00a0the perspective of the economic slowdown and the planned limitation of new projects decided by\u00a0some of our Contracting Authorities, i.e. local governments and PKP PLK.\u00a0<\/p>\n

Inflation rates remain high and most forecasts for the coming quarters are being revised upwards. We\u00a0are closely monitoring the prices of energy and fuels, which are of key importance for the construction industry and the entire economy. That is why it is so important to\u00a0continue working on\u00a0mechanisms for valorization of long-term orders.<\/p>\n

We\u00a0are preparing for the implementation of the first important projects abroad. The largest of them is the construction of the D1 Bratislava-Triblavina motorway in\u00a0the \u201cdesign and build\u201d formula. Recently, we\u00a0have also won first place in\u00a0the tender for the reconstruction of railway infrastructure on\u00a0the Czech market with a\u00a0total value of approx. PLN 66 million.<\/p>\n

Innovation<\/strong><\/p>\n

Budimex, in\u00a0cooperation with the Krakow Technology Park, has joined the Poland Prize acceleration programme for foreign start-ups, co-financed by\u00a0the Polish Agency for Enterprise Development.<\/p>\n

We\u00a0continue our cooperation with startups that were awarded in\u00a0the first edition of the Budimex Startup Challenge. The leading topics in\u00a0the area of innovation continue to\u00a0be: solutions for the energy sector, renewable energy sources and ecological technologies for the construction industry.<\/p>\n

CSR activities <\/strong><\/p>\n

July 26, 2022 the ceremonial finale of the House from the Heart 2 campaign took place in\u00a0Brusy in\u00a0Pomerania, as\u00a0 part of which the construction of a\u00a0house for a\u00a0family of 8 was completed to\u00a0a\u00a0turnkey state. Thanks to\u00a0the support of all Partners of the campaign, the dream of Iwona, Krzysztof and their six children came true. Build 41. and 42. Parent Zone in\u00a0hospitals in\u00a0E\u0142k and Bydgoszcz.<\/p>\n

In\u00a0the third quarter, our construction sites won several valuable industry awards: 7 awards in\u00a0the \u201cConstruction of the Year 2021\u201d competition, commonly known as\u00a0the Construction Oscars, and two \u201cModernization of the Year\u201d awards. Among the awarded investments were, m.in, the PKN Orlen Research and Development Centre in\u00a0P\u0142ock, the PKP S.A. railway station in\u00a0Bia\u0142ystok and Rother\u2019s Mills in\u00a0Bydgoszcz.<\/p>\n

Budimex\u2019s CSR strategy assumes m.in.\u00a0being a\u00a0good neighbor, guest and partner for local communities.\u00a0 During the three quarters of 2022. we\u00a0have charitably supported the surroundings of construction sites as\u00a0part of 41 projects in: E\u0142k, Szczecin, Bydgoszcz, Szczecin, Krak\u00f3w, Warsaw, Dolice near Szczecin. Szczecin, Bia\u0142ystok, Narewka near Szczecin.\u00a0 Hajn\u00f3wka, Czechowice \u2013 Dziedzice, Suwa\u0142ki, Marki near Dziedzice. Warsaw, S\u0142upca near Warsaw. Konin and Strachocin. The total value of the aid amounted to\u00a0over PLN 1 million.<\/p><\/div>\n <\/div>\n

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The Budimex Group generated an operating profit of PLN 417 million with a margin of 6.5%, while in the first quarter of this year the operating profitability reached 3.6%, and in the second and third quarters it was already 7.4% and 7.7%, respectively. …<\/p>\n","protected":false},"featured_media":148251,"parent":0,"template":"","press_type":[790,537,772],"acf":[],"yoast_head":"\nCommentary by Artur Popko, President of the Management Board of Budimex SA, on the financial data of the Budimex Group for the three quarters of 2022 - Budimex<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commentary by Artur Popko, President of the Management Board of Budimex SA, on the financial data of the Budimex Group for the three quarters of 2022 - Budimex\" \/>\n<meta property=\"og:description\" content=\"The Budimex Group generated an operating profit of PLN 417 million with a margin of 6.5%, while in the first quarter of this year the operating profitability reached 3.6%, and in the second and third quarters it was already 7.4% and 7.7%, respectively. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bdm-stg.mda.pl\/en\/press\/commentary-by-artur-popko-president-of-the-management-board-of-budimex-sa-on-the-financial-data-of-the-budimex-group-for-the-three-quarters-of-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Budimex\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-07T11:20:50+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bdm-stg.mda.pl\/en\/press\/commentary-by-artur-popko-president-of-the-management-board-of-budimex-sa-on-the-financial-data-of-the-budimex-group-for-the-three-quarters-of-2022\/\",\"url\":\"https:\/\/bdm-stg.mda.pl\/en\/press\/commentary-by-artur-popko-president-of-the-management-board-of-budimex-sa-on-the-financial-data-of-the-budimex-group-for-the-three-quarters-of-2022\/\",\"name\":\"Commentary by Artur Popko, President of the Management Board of Budimex SA, on the financial data of the Budimex Group for the three quarters of 2022 - 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