In Q1-3 2019, the Erbud Group recorded a 10% y-o-y increase in sales revenue. Revenues from the engineering and road construction segment increased by 43% y-o-y in the same period, so their share in the company’s revenues is already 14%.
Loss converted to profit
In Q1-3 2019, Erbud recorded a consolidated net profit of PLN 27.44m compared with a loss of PLN 23.61m a year earlier, the company announced in its report. Sales revenue amounted to PLN 1,789.04m, compared to PLN 1,624.56m in Q1-3 2019, which means that it increased by 10.1% y-o-y.
High growth of the road engineering segment
At the end of Q3 2019, the Group’s domestic revenues from the construction of buildings totalled PLN 1,191m and were 12% higher than in the previous year, while the foreign construction of buildings abroad generated PLN 97.8m, i.e. 34% lower than in the previous year.
The largest y-o-y growth was recorded by the road engineering segment, which generated revenues of PLN 259m – 43% more than in the previous year, thanks to which its share in the Group’s revenues reached 14%. The recorded growth in this segment is mainly a result of the revival in the RES industry, both in terms of wind farms and photovoltaic plants. The PBDI, company from Group, which has been present on the renewable energy market for over a dozen years, has won several contracts after last year’s auctions, Dariusz Grzeszczak, President of the Management Board, commented on the published results.
Billions in the wallet
At the end of September, the Erbud Group had a safe and diversified order portfolio of PLN 2.3bn, of which PLN 622m was in 2019 and PLN 1,678m in the following years (2020-2022). The share of public procurement in the portfolio collected in January-September 2019 was 49%.
The largest public contracts executed by the Group include: the PBDI S.A. agreement for the construction of a section of the S3 expressway (PLN 358m), the agreement for general contracting of the Non-invasive Medicine Centre in Gdańsk (PLN 153m) and the contract for the construction of a clinical and scientific centre in Zabrze (PLN 108m) signed in September this year.