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Budimex SABudimex builder sees revenue as challenge but counts on higher y/y result in 2025
Revenues will still be a challenge for listed builder Budimex, but the group expects them to be higher in annual terms throughout 2025, CEO Artur Popko told a conference on the group's financial results for the first quarter.
"Revenue will be an ongoing challenge for us, despite the record portfolio we have this year (...). Most of the projects are in the 'design and build' formula, where we are waiting for construction to start. We believe that by the end of the year, we will increase revenues in annual terms," CEO Popko said.
"We assess the results for the first quarter as very good. The challenge will be revenues - to accelerate revenues with a large portfolio of more than PLN 17.5 billion and for them to be higher year on year by the end of 2025," he added.
In 2024, the group reported revenues of PLN 9.1 billion (EUR 2.1 bln) against PLN 9.8 billion (EUR 2.3 bln) a year earlier. In the first quarter of 2025, revenues amounted to PLN 1.642 billion (EUR 384.1 mln).
The Budimex group's order backlog at the end of March amounted to PLN 17.5 billion (EUR 4.1 bln), and the value of contracts signed between January and March 2025 exceeded PLN 1 billion (EUR 233.9 mln).
"The portfolio secures the work front for the next two years, and with some contracts scheduled for completion in 2027-2028, it offers the prospect of stable margins. All contracts take into account current prices and valorisation is anticipated," the CEO said.
"We have won contracts in the 'waiting room' worth more than PLN 8 billion. Our goal is to win contracts worth PLN 8.5 billion outside the waiting room," he added.
CEO Popko stressed that gradual growth is the group's goal.
"It is not our goal to acquire a portfolio indefinitely. We want to grow gradually. We have grown 6-7 percent in recent years, and this is the target we want to continue with," he said.
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