Profil:
Budimex SABudimex builder expects record high order backlog at end-year
Listed builder Budimex expects a record high order backlog at the end of the year with the backlog at PLN 15 billion (EUR 3.5 bln) at the end of the first half of 2024 securing the group's work frontage until the end of 2024 and for the most of 2025, the group's representatives told a press conference.
"We are ending the first half of the year with a record backlog at over PLN 15 billion, and this level secures the group's work frontage until the end of this year and the majority of 2025. Over the quarter of the portfolio's value are projects with completion date in years 2027 to 2028, which build the group's operations fundaments for the next four years," Artur Popko, group's CEO said.
Budimex's portfolio amounted to PLN 15.34 billion (EUR 3.58 bln) at the end of June 2024 versus PLN 12.22 billion (EUR 2.85 bln) a year prior.
The value of contracts signed by the group in the first half of 2024 amounted to PLN 5.66 billion (EUR 1.3 bln) versus PLN 2.54 billion (EUR 592.8 mln) a year prior.
"For the first time in our history we have contracts where the delivery period amounts to over 8 years, such as the contract in Latvia, as well as 4 to 5 years tunnel contracts which provide a stable backlog, which allows us to place our bids sensibly and not fight aggressively on the market," the CEO added.
Budimex stated that the contracts in the waitlist have a value of approximately PLN 9.6 billion (EUR 2.2 bln).
"This year is almost PLN 10 billion (in waitlist contracts) which provides a big comfort, since we expect a record high backlog at the end of the year, which allows us to look into the future with optimism," Popko said.
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