* Indicators marked with „*” was subject of a assurance engagement by an independent auditor.
2017 may be considered to be another very good year for the Budimex Group, as the company recorded historic sales rate (increase by 14.3%) and peak net profit of PLN 464 million. This made it possible for us to regain the leading position in the Polish construction sector. The total value of contracts signed by Budimex in 2017 was PLN 7.3 billion.
In the period discussed, the Budimex Group’s sales growth rate in the construction segment was on a par with the market rate increased by 12.6%, in comparison with 2016. The share of the infrastructural segment in the total revenue from the Group’s construction and assembly services fell from 55.9% in 2016 to 48.9% in 2017. As a result of acquiring new railway contracts, the share of this segment in the Group’s revenue structure in 2017 amounted to 3.9%. The persistent favourable conditions on commercial building market was reflected in the share of housing in the sales structure, which increased from 41.6% in 2016 to 47.2% in 2017, of which the share in housing increased from 12.6% in 2016 to 13.3% in 2017.
In 2017, the sales revenue from the property development business increased by 42.6% in comparison with the previous year. Net pre-sales of new flats in entire 2017 was 1,457 pieces in relation to 1,615 flats in the previous year. The decrease in the number of pre-sold flats by 10% results from the end of the attractive offering of the “Nowe Czyżyny” project in Cracow.
In order to meet customers’ requirements and ensure stable sales revenue in the following years, in 2017, construction of over 1,000 flats began. In 2017, the Group continued the land bank diversification process by buying new plots in Warsaw, Poznań, Wrocław and the Tricity. Approximately 8,000 new flats can be built on lands owned by the company.