Budimex revenue up, net profit down in Q3 2018

The Budimex Group posted PLN 2.09bn (€0.49bn) in consolidated sales revenue in Q3 2018, compared to PLN 1.83bn (€0.43bn) reported in the same period of 2017, according to the report released by the Group. In July-September 2018, Budimex posted a net profit of PLN 102.73m (€23.86m), down by around 28% year on year from the PLN 142.43m (€33.08m) profit reported a year ago. On a cumulative basis, Budimex reported sales revenue of PLN 5.39bn (€1.25bn) and a net profit of PLN 230.82m (€53.61m) since the beginning of 2018. These figures represent an 18% y-o-y upsurge in revenue and a y-o-y fall of 32% in terms of net profit.

The Budimex Group’s construction segment reported sales revenue of PLN 5.1bn (€1.18bn) and a PLN 146.1m (€33.93m) net profit in Q1-Q3 2018, which represents an 18% gain y-o-y in revenue and a 48% jump in net profit compared to the same period last year. The property development segment’s revenue rose by 6% year on year to PLN 411.6m (€95.6m) while the net profit rose was at PLN 47.8m (€11.1m), compared to PLN 47.6m (€11.05m) in the corresponding period of 2017.

As at the end of September 2018, the Budimex Group’s backlog of orders was worth PLN 11.04bn (€2.56bn), as compared to PLN 9.28bn (€2.16bn) at the same time last year. The value of contracts signed over the last nine months totalled PLN 5.57bn (€1.29bn) (compared to PLN 4.48bn (€1.04bn) a year earlier).