Elektrotim sees revival in tenders, records PLN 676.3 mln backlog at end-July

"Until the end of June, we observed a pause, a decision-making blockage, when it came to publishing tenders. Since July, we have seen a revival in the announcement and awarding of tenders," CEO Maciej Posadzy told the video conference.

"The contracts we are signing are at the level of profitability we expect. We do not need to build scale at the expense of profitability," he added.

The company's gross sales profitability in the first half of 2025 was 11.9 percent against 14.8 percent in the prior year period.

"We are seeing stagnation, a crisis in the construction sector, and construction and assembly production after six months is negative year on year (...). There was also a decline last year, so this is another year of decline," CEO Posadzy pointed out.

"The forecasts indicate that in the second half of the year – or rather, there are more and more voices saying that it will not be until 2026 – there will be signs of a rebound in the sector," he added.

The management board does not see any risks related to the prices of construction materials, which are stable, but it does see strong competition on the market and the risk of a staff shortage.

Elektrotim sees prospects for development in areas such as energy transition – nuclear and wind energy, and the construction of energy storage facilities.

"The state's regulations are pro-development, because, for example, the announced anti-blackout regulations necessitate the expansion and reconstruction of infrastructure, in which we intend to participate," said board member Dariusz Kozikowski.

The management board also sees prospects in the defence sector and the planned investments related to Poland's central transportation hub CPK.

"We also see potential in the traction infrastructure market – it seems that the market has not yet awakened, but there are signs that it should do so soon," Kozikowski added.

According to the CEO Maciej Posadzy, Elektrotim's sources of financing allow it to confidently expect revenues of up to PLN 1 billion (EUR 235.1 mln).

Elektrotim's backlog at the end of July 2025 amounted to PLN 676.3 million (EUR 159 mln), of which approximately PLN 357.8 million (EUR 84.1 mln) has been planned for completion in 2025, while PLN 318.55 million (EUR 74.9 mln) has been planned for 2026-2027.

In the first half of 2025, Elektrotim generated PLN 202.55 million (EUR 47.6 mln) in revenue, up by 17 percent year on year, PLN 7.3 million in net profit (EUR 1.7 mln), a year-on-year decrease of 44 percent, and PLN 10.6 million (EUR 2.5 mln) in operating profit, down 33 percent year on year.

doa/ ao/ han/