Polish construction company Budimex's full-year net profit falls 16.6%

Budimex SA

11/04/2025 07:15

GDANSK, April 11 (Reuters) -
Poland's Budimex BDXP.WA reported a 16.6% drop in the full-year 2024 net profit to 615.9 million zlotys ($163.03 million) on Friday, as the construction segment sales declined 10.4% due to a sluggish domestic market.

The result was in line with the company's preliminary estimate published on February 26.

WHY IT'S IMPORTANT

Budimex is Poland's biggest construction and engineering company and in March confirmed that it wants to participate in the country's military investments.

Investors have since been expecting the company to benefit from the potential peace in Ukraine and its reconstruction, Erste Group analyst, Cezary Bernatek, told Reuters.

CONTEXT

In March, Budimex board member, Cezary Lysenko, said that projects worth 1.5 billion zlotys, out of the company's backlog of 18 billion zlotys, are military projects.

BY THE NUMBERS

Budimex's full-year operating profit fell to 743.8 million zlotys from 781.1 million zlotys a year earlier.

Sales revenue for the twelve months fell 7.0% year-on-year to 9.12 billion zlotys.

The company has recommended a dividend of 25.43 zlotys per share for 2024.

($1 = 3.7778 zlotys)

 (Reporting by Anna Banacka; Editing by Eileen Soreng)

 ((anna.banacka@thomsonreuters.com; +48 58 769 65 65))