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Comment of the President of the Management Board of Budimex SA Dariusz Blocher to financial data from the consolidated financial statements of the Budimex Group  for the first three quarters of 2018

At the end of the first three quarters of 2018 the Budimex Group recorded an increase in sales revenues by 18% compared with the same period of the preceding year, and posted an EBITDA margin of 5.6%. In the third quarter of 2018 the profitability of the Budimex Group was higher and amounted to 6.7%, this being attributable to the recognition of the profit/loss on the sale of the subsidiaries Elektromontaż-Poznań S.A. and Investment Office “Grunwald” S.A. The impact of the transaction on the consolidated financial statements was in line with the preliminary estimate specified in current report no. 64/2018 and amounted to PLN 44 million in the gross profit item.

Budimex seeks more than 1,000 employees and introduces a new recruitment system

Budimex, a general contractor for construction works in infrastructure, industry and energy, as well as general construction, is looking to add more than 1100 new employees by the end of 2019. This, the largest Polish construction company, will be the first company in the construction industry in Poland to introduce an external programme of recommendations for people to work. Everyone, regardless of their occupation, who effectively indicates a suitable employee for a position sought by Budimex will receive a financial reward of up to PLN 2,000.

Budimex-Strabag-ZUE consortium completes modernization of the "inner ring line" in Warsaw

The consortium of Budimex, Strabag and ZUE completed the modernization of railway line no. 20 in Warsaw for PKP PLK. This included building a 4 km track with a new surface for the section Warszawa Zachodnia - Warszawa Gdańska, together with the overhead cables and 4 stops with shelters. Line no. 20 was opened during the night of Saturday to Sunday, 20 - 21 October. This is part of a larger project, which assumes the modernisation of the inner ring line in the capital city, involving the sections Warszawa Zachodnia - Warszawa Gdańska and Warszawa Gołąbki - Warszawa Gdańska. Lines 507 and 509 are under construction.

Cornerstone laid for Polish History Museum

On 11th October, a cornerstone ceremony was held for the Polish History Museum. It was attended by the Prime Minister of Poland, Mateusz Morawiecki, and the Minister of Culture and National Heritage, Piotr Gliński. The Ministry of Culture and National Heritage is the investor, while Budimex is the general contractor. The author of the project is WXCA sp. z o. o. from Warsaw. Currently, Budimex has nearly completed the earthworks under the supervision of an archaeologist. Works are underway to provide a water insulation coating for the underground part of the building and erect the structure using waterproof concrete technology. The foundation slabs, walls and posts are also being created. Despite the construction works starting barely 90 days ago, around 7% of the project is already complete.

Budimex commissions extensions to a research hospital in Białystok

Patients of the modernised University Research Hospital, whose floor space has doubled, can now use the new Dialysis Centre, Clinical Research Centre, and Nephrology Ward. The expansion was a real challenge, because during the works, the hospital remained open, which involved, among other things, the relocation some of the wards and their staff, as well as making sure that utilities were still provided.

Budimex and the General Directorate for National Roads and Motorways open S5 to traffic on the Leszno South – Kaczkowo section

The formal opening of the 9.5 km section took place on 5 October 2018. This road investment significantly reduces the travel time between Poznań and Wrocław conurbations. Drivers have gained two two-lane roads. Apart from this section, Budimex constructed the Leszno South road node at the intersection with the Regional Road 323.

We are involved in the SAFEWAY international EU infrastructure project

Budimex SA and Ferrovial Agroman SA together in SAFEWAY - an international research and development project, co-financed from EU funds under the Horizon 2020 Programme. This is a huge undertaking bringing together as many as 14 European consortium members.

Budimex completing construction of the Zabrze heat and power plant

The last week of September saw the official opening of one of the largest energy investments in recent years in Poland. The Zabrze heat and power plant is the first such modern facility managed by Fortum in Europe. It has the capability of using alternative fuel generated from waste, thanks to which it is environmentally friendly. The commissioning and final works are currently underway at the facility. Budimex was the general contractor, alongside other trade contractors.

We complete construction of the Czeszów – Kiełczów gas pipeline

According to the agreement, Budimex has obtained the certificate of final acceptance, free of faults, for the construction of a 32.5 km high pressure gas pipeline. The investment involves the section from the Czeszów Shut Off and Relief Valve System to the Kiełczów junction. The contract was implemented as part of the construction of a gas pipeline from the border of the Republic of Poland (Lasów) – Taczalin – Radakowice – Gałów – Wierzchowice, together with infrastructure necessary to operate it. The total value of the project is over PLN 63 million.

Budimex finalises the sale of Elektromontaż-Poznań

Budimex S.A. has concluded two share sales agreements. Under the first, Budimex S.A. sold its 99% shareholding in Elektromontaż-Poznań for PLN 65 million. Under the second, Budimex S.A. sold its 99% shareholding in Biuro Inwestycji "Grunwald" S.A. for PLN 43 million. At the moment of the sales, Elektromontaż-Poznań S.A. conducted an activity involving the provision of electrical and installation services for non-residential construction, while Biuro Inwestycji "Grunwald" S.A. possessed cash resources coming from the transaction of sales of the organised part of the enterprise to Budimex Nieruchomości Sp. z o.o.

Winner of the “Change the World” programme has been chosen!

Foundation trzy czte ry!, thanks to having received the main prize in a competition organised by Budimex on the occasion of the 50th anniversary of its founding, will be able to open the first school in Poland in which lessons are to be held outside all year round.

Redevelopment of Olszamowice station is complete: trains now travel faster

A contract worth almost PLN 45 million included both design and construction work. As part of the task, Budimex modernised the technical infrastructure of the station, including the junctions and the overhead cable system. This increased the station’s capacity, allowing trains to travel at up to 200 km/h.

Budimex tests innovative lighting

In January this year, Budimex announced the “Budimex innovations” project, dedicated to start-ups. Now, the company is presenting its first results - an intelligent lighting proof of concept executed in co-operation with Optical Electronics.

Budimex to design and build the Podgórze - Kamień section of the S19 express road

On 9 August 2018 we signed an agreement with the Rzeszów branch office of the General Directorate for National Roads and Motorways (GDDKiA) to build a section of road about 10.5 km in length. It is to form part of the Via Carpatia route, to connect the Podgórze junction (including the junction itself) with the Kamień junction (excluding the junction itself). The section is to be built within 34 months.

We will build the Tuszyn - Piotrków Trybunalski - Bełchatów section of the A1 motorway

The consortium of Budimex and Strabag has signed a contract with the General Director for National Roads and Motorways, with the participation of the Minister of Infrastructure, Andrzej Adamczyk, for building an important section of the A1 motorway. The project aims at building a road connecting the Gdańsk-Sopot-Gdynia Tricity with the Czech Republic. The new section of the A1 motorway will also provide drivers with new exits, for example, to Warsaw from the route to Łódź. The value of the project is PLN 389 million net. The President of the Board at Budimex, Dariusz Blocher, says that “we want to submit a construction design in two weeks.”

Commentary of the President of the Management Board of Budimex SA, Dariusz Blocher, on selected financial data from the financial statements of the Budimex Group for H1, 2018

The Budimex Group finalised the first six months of 2018 with a record-high level of sales revenues, profitability considerably above market indicators and a net profit of PLN 128 million.

Budimex SA and Ferrovial Agroman SA begin road works on Trasa Łagiewnicka in Cracow

The consortium of Budimex SA (the leader with 95% share) and Ferrovial Agroman SA (the partner with 5% share) have begun road works in the construction of Trasa Łagiewnicka.

Polish History Museum - Sod-Turning Ceremony

The sod-turning ceremony marking the beginning of the construction of the PHM seat took place on 6 July on the grounds of the Warsaw Citadel. Our museum, whose opening is planned for the first quarter of 2021, is to be one of the largest and most modern museums in Poland.

We are among the winners of the PZITB ‘Construction of the Year 2017‘ competition

The aim of the competition, organised by the Polish Association of Construction Engineers and Technicians (PZITB), is to select structures on which outstanding performance results were achieved.

The bypass of Ostróda has been put into use

On 20th June Budimex fully opened to traffic Subsection B as a part of the task ‘Construction of the Ostróda Bypass on the section Ostróda North – Ostróda South’.

 
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