{"id":155442,"date":"2020-07-29T07:40:21","date_gmt":"2020-07-29T07:40:21","guid":{"rendered":"https:\/\/bdm-stg.mda.pl\/informacje-prasowe\/budimex-groups-results-after-the-first-half-of-2020\/"},"modified":"2024-06-07T11:23:53","modified_gmt":"2024-06-07T11:23:53","slug":"budimex-groups-results-after-the-first-half-of-2020","status":"publish","type":"press","link":"https:\/\/bdm-stg.mda.pl\/en\/press\/budimex-groups-results-after-the-first-half-of-2020\/","title":{"rendered":"Budimex Group’s results after the first half of 2020"},"content":{"rendered":"\n
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29.07.2020<\/p>\n

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Budimex Group’s results after the first half of 2020<\/h2>\n

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Publication of the Budimex Group\u2019s financial data and plans for the coming quarters.<\/strong><\/p>\n

Market situation:<\/strong>
\u25aa Construction and assembly production increased in H1. 2020 by 5% to PLN 45.4 billion
\u25aa The coronavirus pandemic had an impact on the results of the Budimex Group in H1 2019. 2020, especially in the construction segment
\u25aa Despite the restrictions resulting from the state of epidemic, the Budimex Group maintained business continuity in all operating segments<\/p>\n

Budimex Group results:<\/strong>
\u25aa Sales in the 1st half of the 2020 reached PLN 3.73 billion and was higher than in H1 2020. 2019, m.in. thanks to the consolidation of the results of the FBSerwis Group and higher sales in the construction segment
\u25aa The gross profit margin of the Budimex Group amounted to 4.1% compared to 3.3% in H1 2019. 2019
\u25aa Gross profit margin in the construction part in Q2 2020 was close to Q1. 2020. The restrictions related to the introduction of the state of epidemic did not significantly disrupt the Group\u2019s operations in this area
\u25aa In the development segment, in the last two months, we have recorded a significant increase in the number of notarial agreements concluded, resulting from the schedules of implementation of individual residential investments, but also from the postponement of contracts planned for March and April. After a period of slowdown, demand is rebuilding and monthly pre-sale volumes are rising<\/p>\n

Cash position of the Budimex Group:<\/strong>
\u25aa At the end of June, the Budimex Group\u2019s net cash amounted to PLN 1,903 million
\u25aa In the first six months of the year, the net cash balance improved by PLN 548 million
\u25aa The cash position was supported primarily by efficient invoicing of current works and quick payment of receivables by investors<\/p>\n

Results of the construction segment of the Budimex Group:<\/strong>
\u25aa Sales of the construction segment increased by 8%, reaching a dynamics slightly higher than the market
\u25aa The gross profit margin on the construction part amounted to 2.2% compared to 1.7% in H1 2017. 2019<\/p>\n

\u25aa Since the beginning of the year, we have signed contracts worth PLN 3.8 billion, thanks to which the order book at the end of June increased to PLN 11.6 billion<\/p>\n

\u25aa On 7 July, we signed a contract of key importance for the Budimex Group for the Reconstruction of the Warszawa Zachodnia station, worth PLN 1.8 billion. In addition, there are contracts worth over PLN 1.5 billion in the waiting room
\u25aa Currently, the implementation of construction contracts is proceeding without major disruptions and cooperation with contracting authorities is at a very good level<\/p>\n

Results of the development segment of the Budimex Group:<\/strong>
\u25aa Budimex Nieruchomo\u015bci\u2019s customers in the 1st half of the In Q2 2020, they signed 622 notarial deeds, of which 618 agreements in Q2 2020. 2020
\u25aa The revenues of the real estate development segment amounted to PLN 275 million, and the gross profit reached PLN 61 million
\u25aa Pre-sale of apartments in the 1st half of the 2020 was 816 units. After a period of slowdown in March and April, we have been recording a gradual increase in interest in apartments for two months, which translates into an increase in pre-sales
\u25aa The current offer of Budimex Nieruchomo\u015bci is almost 1,500 apartments in 5 locations<\/p>\n

Results of the services segment of the Budimex Group:<\/strong>
\u25aa Sales of the services segment amounted to PLN 277 million (of which PLN 276 million relates to the FBSerwis Group, whose results have been consolidated using the full method since the second half of 2019)
\u25aa The segment\u2019s gross profit amounted to PLN 31 million and profitability reached 11.3%<\/p>\n

The coming quarters through the eyes of the Budimex Group\u2026<\/strong>
\u25aa A stable level of the order book allows for fully effective use of resources. The signing of the contract for the Reconstruction of the Warszawa Zachodnia station and the projects in the waiting room will allow us to maintain an appropriate portfolio of orders in the engineering area for at least several months
\u25aa The challenge in the coming quarters will be to obtain contracts in the cubature part, where there is a visible reduction in new private investments and a partial suspension of planned public investments
\u25aa The threat related to the spread of the coronavirus was reflected in the change in the rules of work organisation in the Budimex Group companies by m.in. introducing the possibility of remote work, securing disinfectants for employees or reorganizing space to ensure working conditions in accordance with the recommendations of the Chief Sanitary Inspectorate
\u25aa We estimate that the impact of the coronavirus pandemic on the Budimex Group\u2019s results in the first half of the year is approx. PLN 36 million and mainly concerns additional costs related to the extension of the implementation time of several projects and the costs of adapting the workspace and purchasing personal protective equipment
\u25aa We positively assess the quality of customer relations in the current reality. Cooperation with public contracting authorities, especially GDDKiA and PKP PLK, as well as the Ministry of Infrastructure, is very good and communication is fast and effective
\u25aa We have decided to review the strategic options of the development segment. We are considering several scenarios,
including attracting a significant investor, concluding a strategic alliance, introducing the company to the WSE. No
we exclude other options that may arise as a result of the review, including the disposal of assets
\u25aa We are taking aid measures for hospitals fighting COVID-19. The Budimex Group provides financial and material support to several hospitals in those parts of Poland where the scale of needs is the largest. The total support of the Budimex Group in the fight against COVID-19 has reached the level of approx. PLN 2.6 million
\u25aa The Budimex Group is consistently involved in long-term social programmes and, despite the demanding market environment, it meets deadlines and commitments, while taking care of the comfort of work and the development of its staff. Recently, we have received the prestigious Golden CSR Leaf of Polityka. At the same time, our efforts in the HR area resulted in taking 4th place in the Universum Most Attractive Employers Poland ranking (in the engineering category)<\/p>\n<\/div>\n <\/div>\n

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Publication of the Budimex Group’s financial data and plans for the coming quarters.
\nMarket situation: \u25aa Construction and assembly production increased by 5% in H1 2020 to reach PLN 45.4 billion The\u25aa coronavirus pandemic had an impact on the Budimex Group’s results in H1 2020 …<\/p>\n","protected":false},"featured_media":151665,"parent":0,"template":"","press_type":[537],"acf":[],"yoast_head":"\nBudimex Group's results after the first half of 2020 - 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=\"Budimex Group's results after the first half of 2020 - Budimex\" \/>\n<meta property=\"og:description\" content=\"Publication of the Budimex Group's financial data and plans for the coming quarters. 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