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Budimex SAUPDATE: Budimex builder's PLN 17 bln backlog guarantees work for three years, says CEO
Listed builder Budimex's order backlog ensures stability for the group for three years, CEO Artur Popko told a press conference. As he pointed out, contracting on the market has declined and the situation is challenging. Recovery is visible in the energy and military segments. According to group's financial report published on Monday, order backlog at the end of June amounted to PLN 17.05 billion (EUR 4 bln).
"Our backlog is worth approximately PLN 17 billion. The maturity of the portfolio gives us a stable foundation for the next three years. We do not want to participate in a price war on the market," CEO Popko told the conference.
Budimex's order backlog at the end of June amounted to PLN 17.05 billion (EUR 4 bln), against PLN 15.34 billion (EUR 3.6 bln) at the end of the first half of 2024. The value of contracts signed in the first half of 2025 reached PLN 2.46 billion (EUR 577.4 mln), down from PLN 5.66 billion (EUR 1.33 bln) in the prior year period.
The awaiting contratcs, i.e. the pipeline, stands at approximately PLN 8.3 billion (EUR 1.95 bln).
"The value of contracts signed has fallen significantly year on year. The situation is quite challenging. We can see that the market is in a prolonged slowdown. Data from Poland's stats office GUS shows that the downward trend in construction and assembly production continues after the first half of the year," Popko said.
Budimex's CEO recalled that Poland's road authority GDDKiA and Poland's railway infrastructure operator PKP PLK have so far announced 12 tenders out of 59 tender procedures that were to be announced this year.
"We are seeing aggressive bidding on the market, which often does not cover the costs of the investment," Popko pointed out.
According to the CEO, there is a visible recovery in the energy and military segments, where more tenders are being announced.
"The situation in the construction sector remains challenging, but we are optimistic because the plans are promising," Popko added.
In the first half of 2025, Budimex had PLN 3.95 billion (EUR 927.86 mln) in revenue, PLN 301.9 million (EUR 70.9 mln) in EBIT and PLN 270.5 million (EUR 63.54 mln) in net profit.
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