Mirbud builder targets PLN 10 bln backlog; sees no opportunity to increase shareholding in Torpol at present

"There are no investments from the railway part in our portfolio yet, but our expectations for 2025 are that up to PLN 1 billion from railway investments may appear in the portfolio," Pawel Korzeniowski, Mirbud's CFO and board member, said at the conference.

At the end of December 2024, the value of the Mirbud group's order backlog was close to PLN 8 billion (EUR 1.9 bln), and at the end of March 2025, the net value was PLN 7.82 billion (EUR 1.8 bln).

"We are targeting a PLN 10 billion backlog (...) - you can see that we are maintaining the portfolio at around PLN 8 billion, and we are consuming and signing new contracts on an ongoing basis," Pawel Bruger, Mirbud's spokesman, assessed.

Mirbud holds a 10 percent stake in Torpol's share capital and does not rule out increasing this stake in the future.

"We have increased our shareholding in Torpol above 10 percent and have established operational cooperation. We are starting to tender together, and the cooperation is going well. The tenders announced by PKP PLK are long sections of significant value (...). We complement each other in terms of potential and experience. We intend to further develop our cooperation," Korzeniowski said.

"For today, we are not considering increasing our stake in Torpol at the price that it is today, but in the future we do not rule it out. (...) We are constantly targeting a large rail operator, Transkol is the beginning of our road. If there is an opportunity, we will aim to exist in Torpol and have a majority stake, but at the moment there is no such possibility," he added.

doa/ nl/