Budimex Sa · GPW:BDX
Budimex Sa — Investor Presentation (July 2025)
37 slides from Budimex Sa's investor presentation, July 2025
Slide 1: Investor presentation 1H'2025
Investor presentation 1H’2025 ZMIENIAMY DLA WAS ŚWIAT
Slide 2: Backlog and contracting as a key KPI
Backlog and contracting as a key KPI High backlog Increase in EBIT margin in Margin growth in the Rail Baltica Estonia - 17,0 bn PLN construction segment to service segment to Signing of a consortium 7,6% (+0,3% y/y) 10.3% (+2.0 p.p. y/y) agreement worth 1.4 bn PLN ZMIENIAMY DLA WAS ŚWIAT
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 06 ESG ZMIENIAMY DLA WAS ŚWIAT 3 budimex
Slide 4: Macroeconomic background
Macroeconomic background GDP dynamics and CPI inflation in Poland (%, y/y) 14,4 According to the March inflation report, 11,4 Poland's GDP will grow by 3.7% in 2025 GDP dynamics CPI inflation relative to 2024. 5,4 5,7 5,1 3,9 4,8 4,7 3,6 3,1 2,4 3,1 5,1 2,9 3,6 3,1 3,4 2,5 2,0 1,6 2,3 Domestic infla
Slide 5: Macroeconomic background
Macroeconomic background PMI index for Poland 57,2 In June, the PMI fell to 44,8 points from 52,8 51,9 53,4 52,7 50,7 the 48,2 points recorded at the end of 47,4 48,3 48,0 48,6 2024. The indicator, since the beginning 43,0 43,9 of the year, has gradually signaled an 44,8 improvement in business clim
Slide 6: Components of construction and assembly production
Components of construction and assembly production Construction and assembly production forecast (nominal value bn PLN)* Buildings Civil Engineering 162 158 Roads 140 108 108 117 102 87,6 86,1 75 84 70,6 Railway 52,3 54,5 55,2 61,1 37,9 42,3 53,6 53,3 56,0 69,7 74,3 71,8 36,7 41,8 49,6 Buildings 201
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 = 100 220 340 200 201 300 180 260 160 220 140 142 180 158 120 Concrete 100 140 142 Steel 80 100 60 60 2Q10 2Q11 2Q12 2Q13 2Q14 2Q15 2Q16 2Q17 2Q18 2Q19 2Q20 2Q21 2Q22 2Q23 2Q24 2Q25 2Q10 2Q11 2Q12 2Q13 2Q14 2Q15 2Q16 2Q17 2Q1
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 06 ESG ZMIENIAMY DLA WAS ŚWIAT 3 budimex
Slide 10: Financial results for first half of 2025
Financial results for first half of 2025 Revenues (MPLN) EBIT Net profit* (M PLN) (M PLN) 4 040 3 947 7,3% 7,6% 6,9% 6,9% 296 302 277 270 1H'24 1H'25 1H'24 1H'25 2H'24 2H'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) In the first half of 2025, the construction segment realized revenues comparable to 8,0% those recorded in the same period last year. 3 885 3 590 3 590 5,9% 7,2% 229 257 286 The increased profitability of the constructi
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 1,8 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 06'14 06'15 06'16 06'17 06'18 06'19 06'20 06'21
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 04 FBSERWIS & MOSTOSTAL KRAKÓW Backlog & 05 MARKET AND OUTLOOK contracting 06 ESG ZMIENIAMY DLA WAS ŚWIAT 3 budimex
Slide 15: Signed contracts (bn PLN)
Signed contracts (bn PLN) 12,5 0,6 The number of contracts 9,0 1,9 announced and signed on the 8,3 0,3 market dropped compared to the 7,9 same period last year 0,6 7,0 0,2 2,8 1,7 0,2 5,7 1,9 0,8 2,9 0,2 0,3 2,4 1,8 0,2 2,2 0,9 0,5 0,7 0,5 0,3 2,5 0,9 0,5 6,9 1,5 0,7 0,0 4,1 1,0 0,1 2,9 3,1 3,2 2,7
Slide 16: Contracts pending with greatest potential
Contracts pending with greatest potential Significant value of contracts 13,4 pending, including the strategic Contracts pending (bn PLN) 13,3 PSE and industrial sectors Rail Baltica Foreign Poland 5,0 4,8 10,1 9,5 9,1 9,3 8,3 4,8 6,9 3,2 2,7 4,8 6,1 4,8 5,2 0,5 5,2 4,4 4,6 0,5 0,5 4,8 3,4 0,5 2,7 5
Slide 17: Backlog (bn PLN)
Backlog (bn PLN) 17,0 About 220 active contracts 17,8 Backlog maturity (%)* 4% 4% 0,7 0,5 2,7 15% 15% 2,6 13 2% 13,3 13,1 2% 0,3 2% 0,3 2% 0,2 2% 39% 0,3 0,3 22% 3,3 2,9 18% 22% 26% 2,9 3,5 2,9 18% 2% 0,6 0,5 29% 6% 3% 0,3 3% 0,8 0,5 3% 2,2 17% 2,4 18% 3,3 25% 21% 0,9 7% 1,1 57% 0,8 6% 9% 10,2 10,3
Slide 18: Road and railway market
Road and railway market Value of signed GDDKiA tenders (bn PLN)*. Value of signed PKP PLK tenders (bn PLN)* 13,4 14,6 14,4 13,6 10,3 10,7 9,5 7,9 8,3 7,4 7,7 6,7 5 4,0 3,1 2,3 2,8 1,3 1,3 1,6 0,2 0,4 1H'20 FY'20 1H'21 FY'21 1H'22 FY'22 1H'23 FY'23 1H'24 FY'24 1H'25 1H'20 FY'20 1H'21 FY'21 1H'22 FY'2
Slide 19: Road market
Road market Value of signed contracts in the domestic road market (bn PLN)* In June, Budimex signed a contract for the construction of the S11 on the 18,7 Ostrów Wielkopolski – Kępno route 15,9 14,6 13,6 14,4 (second section) worth 478 M PLN, 10,7 which was one of the largest contracts 7,7 signed in
Slide 20: 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 10,3 planning railway tenders worth about 16 7,4 bn PLN per year. 3,4 2,8 1,3 1,6 0,2 0,9 In 2024, PKP PLK signed contracts
Slide 21: 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 06 ESG ZMIENIAMY DLA WAS ŚWIAT 3 budimex
Slide 22: FBSerwis – financial results
FBSerwis – financial results % EBITDA 19,4% 16,7% 16,7% 15,1% 15,4% 14,8% 17,7% 903 937 780 832 17,4% 139 136 144 610 130 118 Revenues (M PLN) EBITDA (M PLN) 498 456 86 435 77 67 '19 '20 '21 '22 '23 '24 HY'24 HY'25 '19 '20 '21 '22 '23 '24 HY'24 HY'25 % EBIT 12,2% 10,6% 10,4% 9,0% 10,0% 9,2% 11,8% 94
Slide 23: New contracts and key offers Backlog
New contracts and key offers Backlog Signed contracts for the collection and management of municipal waste from residential properties: ▪ Środa Śląska Municipality: 12.7 net M PLN 88,5 ▪ Stronie Śląskie Municipality: 9.6 net M PLN Signed contracts for waste collection, transportation and management
Slide 24: Mostostal Kraków – financial results
Mostostal Kraków – financial results 805 Cash Debt NTP 95 544 Revenues (M PLN) 488 77 76 Net cash (M PLN) 383 66 323 48 296 46 95 78 76 66 52 49 -5 -2 0 2021 2022 2023 2024 1H'24 1H'25 2020 2021 2022 2023 2024 06'2025 800 711 700 33,6 600 Contracting (M PLN)* 535 531 29,2 500 407 400 18,4 EBIT (M PL
Slide 25: New contracts, completed investments and Backlog
New contracts, completed investments and Backlog New contracts Atom Signed contracts with a total value of PLN 107 million, among others: Supply and installation of steel structure : ▪ Mercedes factory in Jaworzno ▪ railroad station in Duisburg ▪ tank No. 4 Airport in Pyrzowice ▪ tram washing plant
Slide 26: Market and outlook
ZMIENIAMY DLA WAS ŚWIAT 01 MACROECONOMIC BACKGROUND 02 FINANCIAL RESULTS OF BUDIMEX GROUP 03 BACKLOG & CONTRACTING 04 FBSERWIS & MOSTOSTAL KRAKÓW Market and outlook 05 MARKET AND OUTLOOK 06 ESG ZMIENIAMY DLA WAS ŚWIAT 3 budimex
Slide 27: 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 28: EU funding at record levels (bn EUR)
EU funding atrecord levels(bn EUR) The General Directorate for National Roads and Motorways (GDDKiA) has already signed 13 agreements for co-financing from the New Gen EU Programme. In total, nearly 7,5 bn PLN has been obtained so far National Recovery and Resilience Plan from EU funds from the New
Slide 29: ESG
ZMIENIAMY DLA WAS ŚWIAT 01 MACROECONOMIC BACKGROUND 02 FINANCIAL RESULTS OF BUDIMEX GROUP 03 BACKLOG & CONTRACTING 04 FBSERWIS & MOSTOSTAL KRAKÓW ESG 05 MARKET AND OUTLOOK 06 ESG ZMIENIAMY DLA WAS ŚWIAT 3 budimex
Slide 30: Achieving ESG goals in the E area
Achieving ESG goals in the E area ▪ Aiming for: 100% of Energy purchased on the market comes from renewable sources → 15 000 MWh of GP from RES was purchased for 1H2025 ▪ The collection and recycling of soil and earth waste processed by Budimex was achieved at a level of 76%, and non-hazardous waste
Slide 31: Achieving ESG goals in the S area
Achieving ESG goals in the S area TRAINING, DEVELOPMENT AND DIVERSITY ▪ Supporting diversity • Women and men in Construction Week– a total of around 15 activities– approx. 4 397 people • Diversity Month– a total of 37 activities organized (video, 2 webinars, 15 articles, 17 mailings, quiz and a cont
Slide 32: Achieving ESG goals in the S area
Achieving ESG goals in the S area Occupational health and safety & WELLBEING ▪ Safety Week 635 activities on 283 contracts and in offices for 13 307 participants, including 4 573 subcontractors ▪ 153 safety inspections on contracts ▪ First aid training – 637 people ▪ Fire safety training– 174 people
Slide 33: Achieving ESG goals in the G area
Achieving ESG goals in the G area ▪ Compliance training • For new employees „Welcome to the Group” • For the Contract Manager Academy– 52 participants • For the Management Board and members of the Executive Committee ▪ Compliance Committee has been established ▪ Contract Manager's Handbook– updating
Slide 34: Value of CIT paid in Poland 2012-2023 by selected construction companies
Value of CIT paid in Poland for the years 2012-2023 by selected construction companies (data in milion PLN)* 1 1 470 2 544 3 199 170 169 157 131 124 111 105 Grupa Budimex Grupa Strabag Intercor Sp. z o.o. Goldbeck Sp z o.o. Torpol S.A. Porr S.A. Skanska S.A. Kajima Poland Sp. Erbud S.A. Grupa Mirbud
Slide 35: Budimex has been a leader in the sector in terms of CIT payments
Budimex has been a leader in the sector in terms of CIT payments for many years. Budimex's share in CIT paid in Poland by construction companies Budimex's share in CIT paid in Poland by construction companies in 2013-2023 Budimex Other construction companies (>130 entities) 37% 36% 34% 29% 29% 25% 2
Slide 36: Growth that benefits the country
Growth that benefits the country - Budimex supports Poland's development and invests in human capital Investment in the economy Investments in human capital • We employ 7836 people of which 7588 are Poles Investment part from 2021 in national infrastructure and • We invest 10 million a year in devel
Slide 37: 12,3% 17 years
8,3 3,9 bn PLN 12,3% 17 years bn PLN Contracts pending Gross margin of dividend payment Revenues 649 1,8 17,0 M PLN bn PLN Net cash 7,6% bn PLN of dividend payment EBIT margin Backlog