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Mirbud SAMirbud builder maintains PLN 8 bln backlog, aiming for PLN 10 bln by year-end
Listed builder Mirbud holds a backlog of about PLN 8 billion (EUR 1.9 bln) and targets PLN 10 billion (EUR 2.4 bln) by the end of 2025, with plans to submit over PLN 13 billion (EUR 3.1 bln) bids in railway investments tenders, CFO Pawel Korzeniowski told the group's earnings conference.
"We manage to maintain the backlog at around PLN 8 billion, signing contracts at a pace matching our performance. However, we openly aim to reach PLN 10 billion by the end of 2025," Mirbud’s CFO and management board member Pawel Korzeniowski stated.
He added that the group has prepared offers for rail projects exceeding PLN 13 billion (EUR 3.1 bln), expecting to secure around PLN 1 billion (EUR 235,600) in contracts this year, which should translate into revenues of PLN 300-500 million (EUR 70.7-117.8 mln) annually in coming years, depending on the schedule.
Korzeniowski noted that 27 road contracts are in early stages, so significant revenues from them are not expected in the first three quarters of 2025, but the company plans to sustain revenue levels comparable to 2024.
In the building construction segment, Mirbud has eight contracts nearing completion and seven in initial phases, which will contribute to revenues in upcoming quarters.
Regarding contracts signed before the Ukraine war, the company expects an increase in contract valuation rates up to 21 percent due to cost overruns.
As the CFO pointed out, Mirbud hopes to sign about 300 preliminary agreements for 2026 by year-end, and to sell 350–400 apartments in 2025.
mbi/ nl/ ao/