Current reports
In connection with providing the financial information to the holding entity of Budimex S.A., i.e. Ferrovial SE, the Management Board of Budimex SA hereby discloses to the general public some selected financial information from the condensed consolidated financial statements of the Budimex Group, prepared in accordance with the International Financial Reporting Standards (IFRS) for the first half of 2024 and the comparable figures for the corresponding period of 2023.
Net revenue from sales of products, services, goods and materials: PLN 4,040,180 thousand as compared to PLN 4,317,944 thousand in the first half of 2023.
Gross profit on sales: PLN 478,933 thousand as compared to PLN 401,393 thousand in the first half of 2023.
Operating profit: PLN 295,837 thousand as compared to PLN 272,635 thousand in the first half of 2023.
Profit before tax: PLN 365,792 thousand as compared to PLN 356,674 thousand in the first half of 2023.
Net profit: PLN 280,752 thousand as compared to PLN 280,781 thousand in the first half of 2023.
Net profit attributable to shareholders of the parent company: PLN 276,778 thousand as compared to PLN 274,671 thousand in the first half of 2023.
Net profit of Budimex SA: PLN 342,093 thousand as compared to PLN 308,211 thousand in the first half of 2023.
The Budimex Group’s order book after the first six months of 2024 was PLN 15.34 billion compared to PLN 12.22 billion at the end of the first half of 2023.
The value of contracts signed by the Budimex Group in the first half of 2024 was PLN 5.66 billion as compared to PLN 2.54 billion in the first half of 2023.
The net cash position of the Budimex Group, including own cash and short-term securities less external financing sources, stood at PLN 2,578 million as at 30 June 2024. As at 30 June 2023, the net cash position of the Budimex Group was PLN 2,731 million.
The attached table presents the results of reporting segments of the Budimex Group for the first half of 2024 and comparable data for the corresponding period of 2023.
The Management Board of Budimex S.A. announces that on 26 July 2024, the Warmian-Masurian Voivodeship – Voivodeship Roads Authority informed the Company that its bid had been selected as the most advantageous in the tender procedure entitled Design and Build for the task entitled: “Expansion of the interregional communication route Kętrzyn – eastern border of the voivodeship on the sections DW 592, DW 655, DW 653. Stage II “Extension of the provincial road No. 655 on the Mazuchówka – Olecko section” The information that the bid of Budimex SA was rated the highest was provided on 9 July 2024 in current report No. 54/2024. The total value of orders with the same Contracting Authority, together with the above-mentioned offer, amounted to PLN 263,612 thousand net. The order with the highest value is the above-mentioned offer. Value of the offer: PLN 193,091,011.01 net Date of commencement of works: from the date of conclusion of the contract Date of completion of works: 32 months from the date of conclusion of the contract Warranty period for the main works: 8 years Warranty period: 8 years from the date of final acceptance Advance payment: none Payment terms: up to 30 days from the date of delivery of VAT invoices to the Ordering Party Bank guarantee of good performance: 5% of gross contractual remuneration Maximum value of contractual penalty paid by the Contractor: 20% of net contractual remuneration The Ordering Party reserves the right to claim supplementary damages, transferring the amount of stipulated contractual penalties to the amount of the actual damage suffered. Other contractual conditions do not deviate from market standards. The total value of the orders signed between Budimex and the Contracting Authority, together with the value of the offer, exceeds the threshold of PLN 196,030 thousand. PLN net.
The Management Board of Budimex S.A. announces that on 19.07.2024. The consortium consisting of Budimex S.A. (Consortium Partner, 50% share), Gülermak Ağir Sanayi Inşaat ve Taahhüt A.Ş. (Consortium Partner, 5% share) and Gulermak Sp. z o.o. (Consortium Leader, 45% share) has been informed by the General Directorate for National Roads and Motorways, Branch in Rzeszów, that its bid has been selected as the most advantageous in the tender procedure entitled Design and construction of the S19 expressway on the Jawornik – Lutcza section, approx. 5.25 km long.
The information that the Consortium’s offer was rated the highest in the tender procedure was published on 05.04.2024. in current report No. 29/2024.
Value of the offer submitted by the Consortium: PLN 1,552,564,000.00 net
Contract commencement date: the date of conclusion of the contract by the Parties
Contract completion date: 59 months from the date of conclusion of the contract
The time of completion of the Works does not include winter periods (i.e. from 1 December to 31 March, counted as four months). Winter periods (i.e. from 1 December to 31 March, counted as four months) are included in the time covered by the design.
Warranty period for major works: up to 15 years
Warranty period: 60 months from the date indicated in the Takeover Certificate
Advance payment: from 1% to 10% of the Accepted Gross Contract Amount
Payment terms: up to 30 days from the date of delivery to the Ordering Party of VAT invoices issued for the amounts certified in the Payment Certificates
Bank guarantee of good performance: 10% of the gross price stated in the offer
Maximum value of contractual penalty paid by the Contractor: 20% of the Accepted Net Contract Amount
The Ordering Party reserves the right to demand supplementary compensation transferring the amount of contractual penalties to the amount of the actual damage suffered, arising or likely to arise in connection with non-performance or improper performance of the contract by the Contractor.
Other contractual conditions do not deviate from market standards.
The value of the offering exceeds the threshold of 196,030 thousand. PLN net.
The Management Board of Budimex S.A. announces that on 10 July 2024 the General Directorate for National Roads and Motorways, Lublin Branch , informed the Company that it had selected Budimex S.A.’s bid as the most advantageous in the tender procedure entitled “S.A. DESIGN AND CONSTRUCTION OF THE S17 PIASKI – HREBENNE EXPRESSWAY, SECTION NO. 3: “KRASNYSTAW PÓŁNOC” (“KRASNYSTAW I”) JUNCTION WITH THE “IZBICA” (“TARZYMIECHY”) JUNCTION WITH THE “TARZYMIECHY” JUNCTION.
The information that our offer was rated the highest in the tender procedure was published on May 7, 2024 in current report No. 39/2024.
Offer value: PLN 781,745,752.00 net
Date of commencement of works: the next day after the signing of the Agreement by the other Party
Date of completion of works: 41 months from the date of conclusion of the contract (winter periods are not included in the time of completion of works). In relation to the content of Report 39/2024, the Deadline for the completion of works was extended from 39 months to 41 months.
Warranty period: up to 15 years
Warranty period: 60 months from the date indicated in the Takeover Certificate
Advance payment: from 1% to 10% of the Accepted Gross Contract Amount
Payment terms: up to 30 days from the date of delivery to the Ordering Party of VAT invoices issued for the amounts certified in the Payment Certificates
Performance bank guarantee: 10% of the Accepted Gross Contract Amount
Maximum value of contractual penalty paid by the Contractor: 20% of the Accepted Net Contract Amount
The Ordering Party reserves the right to demand supplementary compensation transferring the amount of contractual penalties to the amount of the actual damage suffered, arising or likely to arise in connection with non-performance or improper performance of the contract by the Contractor.
Other contractual conditions do not deviate from market standards.
The value of the offering exceeds the threshold of 196,030 thousand. PLN net
The Management Board of Budimex S.A. announces that on 9 July 2024, the Warmian-Masurian Voivodeship – Voivodeship Roads Authority informed the Company that its bid was rated the highest in the tender procedure entitled Design and build for the task entitled: “Expansion of the interregional communication route Kętrzyn – eastern border of the voivodeship on the sections DW 592, DW 655, DW 653. Stage II “Extension of the provincial road No. 655 on the section Mazuchówka – Olecko”
The above does not mean that Budimex S.A.’s bid was selected as the most advantageous, as the bid evaluation procedure has not been finally completed.
The total value of orders with the same Ordering Party, together with the above-mentioned offer, amounted to 263,612 thousand. zlotys net. The order with the highest value is the above-mentioned offer.
Value of the offer: PLN 193,091,011.01 net
Date of commencement of works: from the date of conclusion of the contract
Date of completion of works: 32 months from the date of conclusion of the contract
Warranty period for main works: 8 years
Warranty period: 8 years from the date of final acceptance
Advance payment: none
Payment terms: up to 30 days from the date of delivery of VAT invoices to the Ordering Party
Bank performance guarantee: 5% of gross contractual remuneration
Maximum value of contractual penalty paid by the Contractor: 20% of the net contractual remuneration
The Ordering Party reserves the right to seek supplementary damages, transferring the amount of stipulated contractual penalties to the amount of the actual damage suffered.
Other contractual conditions do not deviate from market standards.
The total value of the orders signed between Budimex and the Contracting Authority, together with the value of the offer, exceeds the threshold of PLN 196,030 thousand. PLN net.
The Management Board of Budimex S.A. announces that on 5 July 2024. a contract was concluded between the General Directorate for National Roads and Motorways, Szczecin Branch and Budimex S.A. for the task “Construction of the S10 Szczecin – Piła road on the section from the end of the Stargard bypass to the beginning of the Piła bypass (with the “Koszyce” junction) excluding the Wałcz bypass, Section 2: “Stargard Wschód” junction /without the junction/ – “Suchań” junction /without the junction/”
The information that Budimex SA’s bid was rated the highest and selected as the most advantageous was provided on 19 February 2024 in current report No. 11/2024 and on 13 March 2024. in current report No. 23/2024.
Contract value: PLN 366,166,760.93 net
Date of commencement of works: from the date of conclusion of the contract by both parties
Date of completion of works: 39 months from the date of conclusion of the contract (winter periods are not included in the time of completion of works)
Warranty period for major works: up to 15 years
Warranty period: 60 months from the date indicated in the Takeover Certificate
Advance payment: from 1% to 10% of the Accepted Gross Contract Amount
Payment terms: up to 30 days from the date of delivery to the Ordering Party of VAT invoices issued for the amounts certified in the Payment Certificates
Performance bank guarantee: 10% of the Accepted Gross Contract Amount
Maximum value of contractual penalty paid by the Contractor: 20% of the Accepted Net Contract Amount
The Ordering Party reserves the right to demand supplementary compensation transferring the amount of contractual penalties to the amount of the actual damage suffered, arising or likely to arise in connection with non-performance or improper performance of the contract by the Contractor.
Other contractual conditions do not deviate from market standards.
The value of the contract exceeds the threshold of PLN 196,030 thousand. PLN net.
The Management Board of Budimex SA announces that on 04 July 2024 the Company was notified of the sale of 1,200 shares of the Company with a total value of PLN 840,105 by the Member of the Management Board of the Company, Director of the Human Resources Management Division, Ms Anna Karyś-Sosińska.
The content of the notification is attached to this report.
With reference to current report No. 54/2023 dated August 29, 2023, current report No. 61/2023 dated October 5, 2023, current report No. 7/2024 dated February 12, 2024 and current report No. 50/2024 dated July 3, 2024
The Management Board of Budimex S.A. announces that on 4 July 2024 the General Directorate for National Roads and Motorways, Olsztyn Branch, informed the Company that its bid had been re-selected as the most advantageous in the tender procedure for: Construction of the S16 Olsztyn (S51) – Ełk (S61) road, Olsztyn – Biskupiec section (construction of the second roadway), Olsztyn East – Barczewo section.
Value of the offer: PLN 412,530,636.00 net.
Date of commencement of works: from the date of signing the contract
Date of completion of works: 39 months from the Commencement Date, winter periods are not included
Warranty period for major works: up to 10 years
Warranty period: 60 months from the date indicated in the Takeover Certificate
Advance payment: up to 10% of the Accepted Gross Contract Amount
Payment terms: 30 days from the date of delivery of a correctly issued VAT invoice to the Ordering Party by
Contractor
Performance bank guarantee: 10% of the Accepted Gross Contract Amount
Maximum value of contractual penalty paid by the Contractor: 20% of the Accepted Net Contract Amount
The contracting authority has the right to seek compensation on general terms if the amount of damage exceeds the agreed contractual penalty.
Other contractual conditions do not deviate from market standards.
The value of the offering exceeds the threshold of 196 030 thousand. PLN net
With reference to current report No. 54/2023 of August 29, 2023, current report No. 61/2023 of October 5, 2023 and current report No. 7/2024 of February 12, 2024
The Management Board of Budimex S.A. announces that on 3 July 2024, the General Directorate for National Roads and Motorways, Olsztyn Branch, informed the Company that its bid was again rated the highest in the tender procedure for: Construction of the S16 Olsztyn (S51) – Ełk (S61) road, Olsztyn – Biskupiec section (construction of the second roadway), Olsztyn East – Barczewo section.
The above does not mean that Budimex S.A.’s bid was selected as the most advantageous, as the bid evaluation procedure has not been finally completed.
Value of the offer: PLN 412,530,636.00 net.
Date of commencement of works: from the date of signing the contract
Date of completion of works: 39 months from the Commencement Date, winter periods are not included
Warranty period for major works: up to 10 years
Warranty period: 60 months from the date indicated in the Takeover Certificate
Advance payment: up to 10% of the Accepted Gross Contract Amount
Payment terms: 30 days from the date of delivery of a correctly issued VAT invoice to the Ordering Party by
Contractor
Performance bank guarantee: 10% of the Accepted Gross Contract Amount
Maximum value of contractual penalty paid by the Contractor: 20% of the Accepted Net Contract Amount
The contracting authority has the right to seek compensation on general terms if the amount of damage exceeds the agreed contractual penalty.
Other contractual conditions do not deviate from market standards.
The value of the offering exceeds the threshold of 196 030 thousand. PLN net
The Management Board of Budimex S.A. announces that on 03.07.2024 an agreement was concluded between the General Directorate for National Roads and Motorways, Szczecin Branch, and Budimex S.A. in the tender procedure entitled: “Construction of the S10 Szczecin – Piła road on the section end of the Stargard bypass – the beginning of the Piła bypass (with the “Koszyce” junction) excluding the bypass of the town of Wałcz, Section 8: Wałcz “Witankowo” junction (without the junction) – “Piła Północ” junction.
Information that our offer was rated the highest in the tender procedure
and selected as the most advantageous were published on 19.02.2024. in current report No. 12/2024 and on 13.03.2024. in current report No. 24/2024.
Contract value: PLN 586,422,080.00 net
Date of commencement of works: from the date of conclusion of the contract by both parties
Date of completion of works: 39 months from the date of conclusion of the contract (winter periods are not included in the time of completion of works)
Warranty period for major works: up to 15 years
Warranty period: 60 months from the date indicated in the Takeover Certificate
Down payment: from 1% to 10% of the Accepted Gross Contract Amount
Payment terms: up to 30 days from the date of delivery to the Ordering Party of VAT invoices issued for the amounts certified in the Payment Certificates
Performance bank guarantee: 10% of the Accepted Gross Contract Amount
Maximum value of contractual penalty paid by the Contractor: 20% of the Accepted Net Contract Amount
The Ordering Party reserves the right to demand supplementary compensation transferring the amount of contractual penalties to the amount of the actual damage suffered, arising or likely to arise in connection with non-performance or improper performance of the contract by the Contractor.
Other contractual conditions do not deviate from market standards.
The value of the contract exceeds the threshold of PLN 196,030 thousand. PLN net.
The Management Board of Budimex S.A. announces that on 28.06.2024. PKP Polskie Linie Kolejowe S.A. informed the Company that its bid had been rated the highest in the tender procedure for the Implementation of the task entitled: Section A – Construction works on railway lines No. 201 section Kościerzyna – Somonino and No. 214 Somonino – Kartuzy implemented as part of the project “Works on the alternative transport route Bydgoszcz – Tricity”.
The above does not mean selecting the bid of Budimex S.A. as the most advantageous one, as the procedure concerning the bid evaluation has not yet been finally completed.
Offer value: PLN 1,284,235,699.12 net
Basic order part A:
Net price: 1 158 734 402,53 PLN
Gross price: 1 425 243 315,11 PLN
Basic order part B:
Net price: 117 121 919,95 PLN
Gross price: 144 059 961,54 PLN
Option No. 1:
Net price: 5 555 037,24 PLN
Gross price: 6 832 695,81 PLN
Option No. 2:
Net price: 2 824 339,40 PLN
Gross price: 3 473 937,46 PLN
Works commencement date: the day following the date of signing the contract
Works completion date:
1) Implementation period for the Basic Order (Time for Completion): 42 months from the Commencement Date
2) Implementation period for Option 1: 108 months from the date of expiry of the Defect Reporting Period for the Basic Scope
3) Implementation period for Option 2: specified by the Ordering Party in the statement on using Option 2, but no later than by the date of expiry of the Defect Reporting Period for the Basic Order, and if the Ordering Party uses Option 1 – until its completion.
Warranty period: 72 months
Warranty period: 72 months
Advance payment: no more than 10% of the Accepted Contract Amount for the Basic Scope
Payment terms: 30 days from the date of delivery of a correctly issued VAT invoice to the Ordering Party by
Contractor
Bank performance bond: 5% of the total gross price for the Basic Scope specified in the bid less the gross costs of replacement transport services, subject to the provisions of item 21 of the Instructions for Contractors (IDW).
The maximum value of the contractual penalty paid by the Contractor:
The total amount of penalties charged in this Sub-Clause shall not exceed 20% of the net value of the Works in respect of Part A of the Basic Scope, with a stipulation that if the contractual penalty referred to in item t) (penalty for withdrawal from the Contract for reasons attributable to the Contractor) has been charged, the total amount of penalties charged shall not exceed 30% of the net value of the Works in respect of Part A of the Basic Scope.
Other contractual conditions do not deviate from market standards.
The value of the offering exceeds the threshold of 196,030 thousand. PLN net.
The Management Board of Budimex S.A. announces that on 20 June 2024 an agreement was concluded between the General Directorate for National Roads and Motorways, Szczecin Branch, and Budimex SA for the task: “Construction of the S10 Szczecin – Piła road on the section from the end of the Stargard bypass to the beginning of the Piła bypass (with the “Koszyce” junction) excluding the Wałcz bypass, section 5, the “Cybowo” junction (with the junction) – the Łowicz Wałecki junction (without the junction)”.
The information that Budimex SA’s bid was rated the highest and selected as the most advantageous was provided on 19 February 2024 in current report No. 13/2024 and on 13 March 2024 in current report No. 22/2024.
Contract value: PLN 492,089,901.00 net
Date of commencement of works: from the date of signing the contract
Date of completion of works: 39 months from the Commencement Date, winter periods are not included.
The winter period lasts from December 16 to March 15, counted as three months
Warranty period for major works: up to 15 years
Warranty period: 60 months from the date indicated in the Takeover Certificate
Down payment: up to 10% of the Accepted Gross Contract Amount
Payment terms: 30 days from the date of delivery of a correctly issued VAT invoice to the Ordering Party by
Artist
Performance bank guarantee: 10% of the Accepted Gross Contract Amount
Maximum value of contractual penalty paid by the Contractor: 20% of the Accepted Net Contract Amount
The contracting authority has the right to seek compensation on general terms if the amount of damage exceeds the agreed contractual penalty.
Other contractual conditions do not deviate from market standards.
The value of the contract exceeds the threshold of PLN 196,030 thousand. PLN net.
Budimex in numbers
0
Budimex Group’s order backlog at the end of 2023 (PLN billion )
0
Budimex Group’s revenues in 2023 (PLN million )
0
EBIT of the Budimex Group in 2023 (PLN M )
0
completed construction contracts
Contact us!
Contact details of people responsible for communication with investors.
Michał Kielin
Head of Affairs Investor Relations and Analysis
Kamil Sochanek
Head of Affairs investor relations