Budimex Sa · GPW:BDX
Budimex Sa — Q1 2025 Earnings Presentation
29 slides from Budimex Sa's earnings presentation, May 2025
Slide 1: Investor presentation for I quarter of 2025
Investor presentation for I quarter of 2025 ZMIENIAMY DLA WAS ŚWIAT
Slide 2: Order backlog and contracting as key KPIs
Order backlog and contracting as key KPIs Obtaining a new contract for Submission of the three High order backlog of Increase in EBIT margin in the construction of the Rail lowest bids in PSE tenders 17.5 bn PLN construction segment to Baltica line in Estonia worth with a total value of 7.5% (+0.7 p
Slide 3: Macroeconomic background
ZMIENIAMY DLA WAS ŚWIAT 01 MACROECONOMIC BACKGROUND 02 FINANCIAL RESULTS OF BUDIMEX GROUP 03 BACKLOG & CONTRACTING Macroeconomic 04 FBSERWIS & MOSTOSTAL KRAKÓW 05 MARKET AND OUTLOOK background Z M I E N I A M Y D L A3 W A Sbudimex ŚWIAT
Slide 4: Macroeconomic background
Macroeconomic background GDP dynamics and CPI inflation in Poland (%, y/y) 14,4 According to the March Inflation Report, Poland's 11,4 GDP will grow by 3.7% in 2025 relative to 2024. GDP dynamics CPI inflation The trajectory of inflation depends on forecasts for sustained energy prices. 5,4 5,7 5,1
Slide 5: Macroeconomic background
Macroeconomic background PMI index for Poland 57,2 In March, the PMI rose to 50.7 points from 52,8 51,9 53,4 52,7 48,6 50,7 48.2 points recorded at the end of 2024. 47,4 48,3 48,0 According to the latest survey results, the 43,0 43,9 business climate in the Polish manufacturing sector continued to i
Slide 6: Components of construction and assembly production
Components of construction and assembly production Construction and assembly production (nominal value bn PLN) Expected growth of 3-5% Buildings Civil Engineering 162 158 140 Roads 117 102 108 108 87,6 86,1 70,6 Railway 84 75 54,5 55,2 61,1 52,3 42,3 37,9 69,7 74,3 71,8 53,6 53,3 56,0 Buildings 41,8
Slide 7: Construction company margins by size
Construction company margins by size Margins in the market have been stabilized through the introduction of valorization mechanisms. 10-49 employees 50-249 employees >=250 employees 11,9% 11,2% 11,4% 10,6% 9,9% 10,1% 9,8% 11,1% 9,2% 8,7% 8,8% 9,6% 8,2% 7,2% 7,5% 7,3% 7,4% 7,3% 7,1% 6,7% 6,5% 5,3% 5,
Slide 8: Prices of selected raw materials
Prices of selected raw materials 1Q’10 = 100 2Q’20 = 100 1Q’10 = 100 2Q’20 = 100 220 340 200 300 204 180 260 160 220 140 144 180 159 120 Concrete 100 140 142 Steel 80 100 60 60 1Q11 1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20 1Q21 1Q22 1Q23 1Q24 1Q25 1Q10 1Q11 1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q1
Slide 9: Financial results of Budimex group
ZMIENIAMY DLA WAS ŚWIAT 01 MACROECONOMIC BACKGROUND 02 FINANCIAL RESULTS OF BUDIMEX GROUP 03 BACKLOG & CONTRACTING Financial results of 04 FBSERWIS & MOSTOSTAL KRAKÓW 05 MARKET AND OUTLOOK Budimex group Z M I E N I A M Y D L A3 W A Sbudimex ŚWIAT
Slide 10: Financial results for first quarter of 2025
Financial results for first quarter of 2025 Revenues (M PLN) EBIT Net profit* (M PLN) (M PLN) 1 645 1 642 7,0% 6,8% 7,2% 7,0% 119 114 115 111 Q1'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 * Net profit for shareholders of the parent company
Slide 11: Financial results by segments
Financial results by segments Construction segment Revenues (M PLN) EBIT (M PLN) The increase in realized sales revenues in the first quarter of 2025 in the construction 1 724 6,7% 7,5% segment, compared to the same period last 1 415 1 489 4,7% year, was recorded mainly in the area of 111 95 buildin
Slide 12: Evolution of net cash position
Evolution of net cash position Net cash position in Budimex Group (bn PLN) 3,83,9 3,3 3,1 3,1 3,0 2,82,82,7 2,9 2,8 2,7 2,6 2,4 2,3 2,2 2,1 2,0 1,9 2,0 1,7 1,8 1,7 1,61,6 1,4 1,5 1,4 1,41,4 1,4 1,2 1,2 1,2 1,2 1,0 1,1 1,0 0,8 0,6 0,50,5 0,5 0,4 0,1 03'14 03'15 03'16 03'17 03'18 03'19 03'20 03'21 03'
Slide 13: Budimex Group dividend history
Budimex Group dividend history Budimex has regularly shared profit with shareholders for 17 years* Budimex is pursuing its announced dividend policy for 2022-2026. The strategy calls for 100% dividend payout ∑= 240,8 In 2021, Budimex paid a dividend from its 2020 profit and an advance dividend 6 147
Slide 14: Backlog & contracting
ZMIENIAMY DLA WAS ŚWIAT 01 MACROECONOMIC BACKGROUND 02 FINANCIAL RESULTS OF BUDIMEX GROUP 03 BACKLOG & CONTRACTING Backlog & contracting 04 FBSERWIS & MOSTOSTAL KRAKÓW 05 MARKET AND OUTLOOK Z M I E N I A M Y D L A3 W A Sbudimex ŚWIAT
Slide 15: Signed contracts (bn PLN)
Signed contracts (bn PLN) 12,5 0,6 9,0 1,9 8,3 0,3 7,9 0,6 7,0 Q1 is characterized by 0,2 2,8 1,7 0,2 seasonally low contracting 1,9 0,8 2,9 0,2 2,4 1,8 0,2 2,2 0,5 0,7 2,7 0,5 0,9 0,5 6,9 0,1 0,7 0,4 1,0 4,1 2,9 3,1 3,2 1,1 0,1 0,5 0,1 1,1 0,4 '20 '21 '22 '23 '24 1Q'24 1Q'25 Roads Hydrotechnical Ra
Slide 16: Contracts pending with the greatest potential in years
Contracts pending with the greatest potential in years Growth of pending contracts by 13,4 20%, including in the strategic PSE Contracts pending (bn PLN) 13,3 and industrial sectors Rail Baltica Foreign Poland 5,0 4,8 10,1 9,5 9,1 9,3 6,9 4,8 3,2 2,7 4,8 6,1 4,8 5,2 0,5 4,4 4,6 0,5 0,5 4,8 3,4 0,5 2
Slide 17: Backlog (bn PLN)
Backlog (bn PLN) 17,5 220 active contracts at the end of 2024 17,8 4% 4% 0,7 0,6 15% 15% 2,7 2,6 13 13,3 2% 2% 2% 2% 2% 13,1 0,3 0,3 0,3 0,2 0,3 18% 22% 3,3 3,2 18% 22% 26% 2,9 3,5 2,9 2% 0,6 3% 0,6 4% 0,8 6% 0,5 3% 0,3 2,2 17% 2,4 18% 3,3 25% 0,9 7% 1,1 57% 58% 0,8 6% 9% 10,2 10,2 6,5 49% 5,0 5,6 4
Slide 18: FBSerwis & Mostostal Kraków
ZMIENIAMY DLA WAS ŚWIAT 01 MACROECONOMIC BACKGROUND 02 FINANCIAL RESULTS OF BUDIMEX GROUP 03 BACKLOG & CONTRACTING FBSerwis 04 FBSERWIS & MOSTOSTAL KRAKÓW 05 MARKET AND OUTLOOK & Mostostal Kraków Z M I E N I A M Y D L A3 W A Sbudimex ŚWIAT
Slide 19: FBSerwis – financial results
FBSerwis – financial results % EBITDA 19,4% 16,7% 16,7% 15,1% 15,4% 14,6% 17,0% 903 937 780 832 17,4% 139 136 144 610 130 118 Revenues (M PLN) 498 EBITDA (M PLN) 86 230 220 34 37 '19 '20 '21 '22 '23 '24 1Q'24 1Q'25 '19 '20 '21 '22 '23 '24 1Q'24 1Q'25 % EBIT 12,2% 10,6% 10,4% 9,0% 10,0% 8,9% 11,2% 94
Slide 20: Mostostal Kraków – financial results
Mostostal Kraków – financial results 805 Cash Debt NTP 95 544 85 488 Revenues (M PLN) 77 Net cash (M PLN) 66 323 48 46 95 85 181 151 78 66 52 49 -5 -2 0 2021 2022 2023 2024 1Q'24 1Q'25 2020 2021 2022 2023 2024 03'2025 800 711 29,2 700 600 535 531 Contracting (M PLN)* 500 17,6 18,1 407 400 13,6 9,4 E
Slide 21: Market and outlook
ZMIENIAMY DLA WAS ŚWIAT 01 MACROECONOMIC BACKGROUND 02 FINANCIAL RESULTS OF BUDIMEX GROUP 03 BACKLOG & CONTRACTING Market and outlook 04 FBSERWIS & MOSTOSTAL KRAKÓW 05 MARKET AND OUTLOOK Z M I E N I A M Y D L A3 W A Sbudimex ŚWIAT
Slide 22: Summary of investment programmes
Summary of investment programmes Advancement of spending Government Programme for National Railway Program PSE program the Construction of National to 2030 until 2036 Roads to 2033 294 bn PLN 100 bn PLN 62 bn PLN Programme of 100 CPK Nuclear power Bypasses by 2030 plants 28 bn PLN > 130 bn PLN ≈200
Slide 23: EU funding at record levels (bn EUR)
EU funding at record levels (bn EUR) The General Directorate of National Roads and Highways (GDDKiA) has signed the 11th and 12th National Recovery and Resilience agreements for funding from the Next Gen EU Program. A total of more than 6.7 bn PLN has so far been obtained for the construction of Pol
Slide 24: Road and rail market awaiting rising volumes
Road and rail market awaiting rising volumes Planned expenditures of the General Directorate for National Roads and Motorways according to announced programs (PLN billion) 100 obwodnic PBDK 38 35 Further implementation of the largest road 34 program in the history of PBDK and 31 infrastructure suppo
Slide 25: Road and rail market awaiting rising volumes
Road and rail market awaiting rising volumes Value of planned expenditures in 2025-2030 (bn PLN) KPK Kolej+ CPK 39 35 Intensification of tender plans in 2025 in both the KPK and Rail + as well as 15 the CPK (greenfield) programs. 26 14 27 19 10 6 12 20 In 2025, value of published tenders 3 awaiting
Slide 26: Road Market
Road Market Value of signed contracts in the domestic road market (bn PLN)* Budimex has signed a contract to build 18,7 six of the eight sections of the S10 15,9 14,6 13,6 13,6 expressway with a total value of PLN 10,7 2.48 billion and a length of nearly 80 7,7 kilometers. 7,0 5,1 4,3 In 2025, the G
Slide 27: Railway market
Railway market Value of signed contracts in the domestic railway market (bn PLN)* 14,8 13,1 PKP PLK has begun a cycle of increased 12,8 investment, as announced. PKP PLK is 9,5 planning rail tenders worth 15-20 bn 7,4 PLN under the Second and Third National Reconstruction Plan (NRP) . 3,4 2,8 0,9 1,
Slide 28: Energy segment with good prospects
Energy segment with good prospects NECP – new scenario PSE's capital expenditure (bn PLN) RES in the electric power industry - installed capacity (GW) 2023 2030 2040 Accumulated Average annual 54,9 1,4 1,5 1,6 4,6 25,8 19 2,0 10,1 12 29,0 46,2 1,5 0,6 0,7 7,7 10,2 5,9 1,1 17,9 1,2 3,1 3,4 1 2005-200
Slide 29: Key figures summary
9,3 1,6 bn PLN 11,8% 16 years bn PLN Contracts pending Gross margin Of divident payment Revenues 649 2,8 17,5 M PLN bn PLN Net cash 6,8% bn PLN Of proposed dividend EBIT margin Backlog