{"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\u00a0H1. 2020 by\u00a05% to\u00a0PLN 45.4 billion
\u25aa The coronavirus pandemic had an impact on\u00a0the results of the Budimex Group in\u00a0H1 2019. 2020, especially in\u00a0the construction segment
\u25aa Despite the restrictions resulting from the state of epidemic, the Budimex Group maintained business continuity in\u00a0all operating segments<\/p>\n

Budimex Group results:<\/strong>
\u25aa Sales in\u00a0the 1st half of the 2020 reached PLN 3.73 billion and was higher than in\u00a0H1 2020. 2019, m.in.\u00a0thanks to\u00a0the consolidation of the results of the FBSerwis Group and higher sales in\u00a0the construction segment
\u25aa The gross profit margin of the Budimex Group amounted to\u00a04.1% compared to\u00a03.3% in\u00a0H1 2019. 2019
\u25aa Gross profit margin in\u00a0the construction part in\u00a0Q2 2020 was close to\u00a0Q1. 2020. The restrictions related to\u00a0the introduction of the state of epidemic did not significantly disrupt the Group\u2019s operations in\u00a0this area
\u25aa In\u00a0the development segment, in\u00a0the last two months, we\u00a0have recorded a\u00a0significant increase in\u00a0the 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\u00a0period of slowdown, demand is rebuilding and monthly pre-sale volumes are rising<\/p>\n

Cash position of the Budimex Group:<\/strong>
\u25aa At\u00a0the end of June, the Budimex Group\u2019s net cash amounted to\u00a0PLN 1,903 million
\u25aa In\u00a0the first six months of the year, the net cash balance improved by\u00a0PLN 548 million
\u25aa The cash position was supported primarily by\u00a0efficient invoicing of current works and quick payment of receivables by\u00a0investors<\/p>\n

Results of the construction segment of the Budimex Group:<\/strong>
\u25aa Sales of the construction segment increased by\u00a08%, reaching a\u00a0dynamics slightly higher than the market
\u25aa The gross profit margin on\u00a0the construction part amounted to\u00a02.2% compared to\u00a01.7% in\u00a0H1 2017. 2019<\/p>\n

\u25aa Since the beginning of the year, we\u00a0have signed contracts worth PLN 3.8 billion, thanks to\u00a0which the order book at\u00a0the end of June increased to\u00a0PLN 11.6 billion<\/p>\n

\u25aa On\u00a07 July, we\u00a0signed a\u00a0contract of key importance for the Budimex Group for the Reconstruction of the Warszawa Zachodnia station, worth PLN 1.8 billion. In\u00a0addition, there are contracts worth over PLN 1.5 billion in\u00a0the waiting room
\u25aa Currently, the implementation of construction contracts is proceeding without major disruptions and cooperation with contracting authorities is at\u00a0a\u00a0very good level<\/p>\n

Results of the development segment of the Budimex Group:<\/strong>
\u25aa Budimex Nieruchomo\u015bci\u2019s customers in\u00a0the 1st half of the In\u00a0Q2 2020, they signed 622 notarial deeds, of which 618 agreements in\u00a0Q2 2020. 2020
\u25aa The revenues of the real estate development segment amounted to\u00a0PLN 275 million, and the gross profit reached PLN 61 million
\u25aa Pre-sale of apartments in\u00a0the 1st half of the 2020 was 816 units. After a\u00a0period of slowdown in\u00a0March and April, we\u00a0have been recording a\u00a0gradual increase in\u00a0interest in\u00a0apartments for two months, which translates into an increase in\u00a0pre-sales
\u25aa The current offer of Budimex Nieruchomo\u015bci is almost 1,500 apartments in\u00a05 locations<\/p>\n

Results of the services segment of the Budimex Group:<\/strong>
\u25aa Sales of the services segment amounted to\u00a0PLN 277 million (of which PLN 276 million relates to\u00a0the 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\u00a0PLN 31 million and profitability reached 11.3%<\/p>\n

The coming quarters through the eyes of the Budimex Group\u2026<\/strong>
\u25aa A\u00a0stable 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\u00a0the waiting room will allow us to\u00a0maintain an appropriate portfolio of orders in\u00a0the engineering area for at\u00a0least several months
\u25aa The challenge in\u00a0the coming quarters will be\u00a0to\u00a0obtain contracts in\u00a0the cubature part, where there is a\u00a0visible reduction in\u00a0new private investments and a\u00a0partial suspension of planned public investments
\u25aa The threat related to\u00a0the spread of the coronavirus was reflected in\u00a0the change in\u00a0the rules of work organisation in\u00a0the Budimex Group companies by\u00a0m.in.\u00a0introducing the possibility of remote work, securing disinfectants for employees or\u00a0reorganizing space to\u00a0ensure working conditions in\u00a0accordance with the recommendations of the Chief Sanitary Inspectorate
\u25aa We\u00a0estimate that the impact of the coronavirus pandemic on\u00a0the Budimex Group\u2019s results in\u00a0the first half of the year is approx. PLN 36 million and mainly concerns additional costs related to\u00a0the extension of the implementation time of several projects and the costs of adapting the workspace and purchasing personal protective equipment
\u25aa We\u00a0positively assess the quality of customer relations in\u00a0the current reality. Cooperation with public contracting authorities, especially GDDKiA and PKP PLK, as\u00a0well as\u00a0the Ministry of Infrastructure, is very good and communication is fast and effective
\u25aa We\u00a0have decided to\u00a0review the strategic options of the development segment. We\u00a0are considering several scenarios,
including attracting a\u00a0significant investor, concluding a\u00a0strategic alliance, introducing the company to\u00a0the WSE. No
we\u00a0exclude other options that may arise as\u00a0a\u00a0result of the review, including the disposal of assets
\u25aa We\u00a0are taking aid measures for hospitals fighting COVID-19. The Budimex Group provides financial and material support to\u00a0several hospitals in\u00a0those parts of Poland where the scale of needs is the largest. The total support of the Budimex Group in\u00a0the fight against COVID-19 has reached the level of approx. PLN 2.6 million
\u25aa The Budimex Group is consistently involved in\u00a0long-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\u00a0have received the prestigious Golden CSR Leaf of Polityka. At\u00a0the same time, our efforts in\u00a0the HR area resulted in\u00a0taking 4th place in\u00a0the Universum Most Attractive Employers Poland ranking (in\u00a0the engineering category)<\/p><\/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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