Budimex builder expects revenue growth in coming years; prepares long-term strategy

"We need to change our structure this year. We had PLN 7-9 billion in annual revenues, and in the next few years our revenues will reach PLN 12-13 billion, I am talking about the long-term trend (...). We are focusing on the long term. We are in the process of preparing a long-term strategy," CEO Popko said.

"We estimate revenues in 2024 at over PLN 9 billion, so lower year on year, but this is due to the fact that the signing of railway contracts has been delayed. We expect to increase revenues this year, we will increase them strongly," he added.

For the fourth quarter of 2024, Budimex estimates consolidated net profit at PLN 172 million (EUR 40.35 mln), down by 40 percent year on year, revenue at PLN 2.6 billion (EUR 609.96 mln) and operating profit at PLN 235 million (EUR 55.13 mln).

Consolidated revenues in 2024 are estimated at PLN 9.1 billion (EUR 2.14 bln) and operating profit at PLN 744 million (EUR 174.54 mln).

At the end of 2024, the backlog reached a record value of nearly PLN 17.8 billion (EUR 4.18 bln), up from PLN 13.1 billion (EUR 3.1 bln) at the end of 2023). This result secures the work front for most of 2025 and provides the group with the foundations of operations for the next 3-4 years.

"We have ended the last few years with a backlog of PLN 10-13 billion, and at end-2024 it was PLN 18 billion. And this backlog does not include the Rail Baltica contract. (...) This is a very satisfying result for us, also because a significant part of the contracts are long-term contracts," CEO Popko said.

"The portfolio gives stability, work for the years to come; we don't need to take an aggressive approach to bidding," he added.

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