The good half of the year of Erbud

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In the first half of 2019, the Erbud Group recorded a satisfactory increase in the results and revenues from sales. The Group’s order portfolio amounts to almost PLN 2.2bn.

PLN 16m of net profit

In H1 2019, Erbud recorded a consolidated net profit of PLN 16.1m, compared to a loss of PLN 29.9m in the corresponding period of last year. EBITDA was PLN 35.8m vs. PLN 33.2m a year earlier (an increase by 8% y-o-y). The operating profit amounted to PLN 25.4m.

In the period of April-June 2019, the company recorded a net profit of PLN 14.3m. The operating profit in the second quarter of this year amounted to PLN 19.6m and the EBITDA result to PLN 25.6m.

Increase in revenue by 25%

Erbud’s consolidated revenue in H1 2019 was PLN 1.2bn, compared to PLN 959.8m a year earlier. This means an increase in revenue by 25% y-o-y. In Q2 2019 alone, the company recorded revenue of PLN 597.8m, compared to PLN 527.4m in Q2 2018.

In the first half of 2019, the Group’s revenue from the construction of buildings in Poland amounted to PLN 866.6m, which translated into an increase by 41% y-o-y. On the other hand, cubature construction abroad generated revenues of PLN 62.4m. The power and service segment recorded PLN 155m in revenues (an increase by 14% y-o-y), while the engineering and road segment maintained revenues at the level of PLN 115m.

Order Portfolio

The order book of the Erbud Group at the end of June 2019 amounted to PLN 2.2bn. In 2019, PLN 1.07bn is due for execution, and in the following years (2020-2022) PLN 1.12bn. The share of public procurement in the company’s portfolio accumulated in the first half of the year was 43%. The largest public contract executed by the Erbud Group is the PBDI agreement (in a consortium with Mosty Lodz) for the construction of a section of the S3 expressway. The contract value is PLN 715.2m, and PBDI’s share is PLN 357.6m, or half of the agreement’s value.