2019 financial results for the Budimex Group
In connection with the transfer of financial data to the parent company of Budimex SA, i.e. Ferrovial SA, the Management Board of Budimex SA publishes selected financial data from the consolidated financial statements of the Budimex Group for 2019, prepared in accordance with the International Financial Reporting Standards, and comparable data for 2018.
Net revenues from sale of products, services, goods and materials: PLN 7,569,663,000 as compared to PLN 7,387,137,000 in 2018.
Gross profit on sales: PLN 551,552,000 as compared to PLN 629,089,000 in 2018.
Operating profit: PLN 318,394,000 as compared to PLN 417,010,000 in 2018.
Gross profit: PLN 332,357,000 as compared to PLN 403,388,000 in 2018.
Net profit: PLN 228,851,000 as compared to PLN 305,484,000 in 2018.
Net profit attributable to the parent company’s shareholders: PLN 226,014,000 as compared to PLN 305,424,000 in 2018.
In 2019, the developer segment (Budimex Nieruchomości Sp. z o.o.) pre-sold 1,655 apartments net (excluding reservations) and sold 1,534 apartments upon notarial deeds, while in 2018 the records showed 1,208 pre-sold apartments and 1,672 apartments sold upon notarial deeds.
The Budimex Group’s order portfolio at the end of 2019 was PLN 10.8 billion compared to PLN 10.1 billion at the end of 2018. The value of contracts signed by the Budimex Group in 2019 was PLN 7.5 billion as compared to PLN 6.6 billion in 2018.
The net cash position of the Budimex Group, including own cash and short-term securities, less the external sources of financing, as at 31 December 2019, amounted to PLN 1.4 billion. As at 31 December 2018, the net cash position of the Budimex Group was PLN 1.1 billion.
Capital expenditures on non-financial fixed assets incurred in 2019 was PLN 158 million (in 2018: PLN 162 million). Additionally, in 2019, the Group companies purchased land for future development projects worth PLN 43 million (in 2018: PLN 204 million).
The attached table presents the results of reporting segments of the Budimex Group for 2019 and comparable data for 2018.
Results of the reporting segments for 2019 (in PLN thousand):
|
|
Construction segment |
Property developer segment |
Service segment |
Exclusions |
Consolidated data |
|
Net revenue from sale of products, goods and materials |
7,151,978 |
557,811 |
278,281 |
(418,407) |
7,569,663 |
|
Gross profit on sales |
418,189 |
137,115 |
39,303 |
(43,055) |
551,552 |
|
Selling costs |
(10,721) |
(19,757) |
- |
- |
(30,478) |
|
General and administrative costs |
(173,135) |
(26,183) |
(14,157) |
14,483 |
(198,992) |
|
Operating profit |
206,994 |
116,785 |
23,187 |
(28,572) |
318,394 |
|
Gross profit |
188,461 |
120,146 |
52,075 |
(28,325) |
332,357 |
|
Net profit |
106,794 |
97,056 |
47,946 |
(22,945) |
228,851 |
|
Profit attributable to the Parent Company’s shareholders |
106,794 |
97,056 |
45,109 |
(22,945) |
226,014 |
Results of the reporting segments for 2018 (in PLN thousand);
|
|
Construction segment |
Property developer segment |
Service segment |
Exclusions |
Consolidated data |
|
Net revenue from sale of products, goods and materials |
7,047,643 |
548,069 |
100,654 |
(309,229) |
7,387,137 |
|
Gross profit on sales |
507,279 |
123,154 |
14,196 |
(15,540) |
629,089 |
|
Selling costs |
(10,738) |
(16,158) |
(3,754) |
- |
(30,650) |
|
General and administrative costs |
(214,628) |
(24,233) |
(4,096) |
13,364 |
(229,593) |
|
Operating profit |
276,659 |
92,119 |
50,383 |
(2,151) |
417,010 |
|
Gross profit |
261,769 |
94,932 |
49,247 |
(2,560) |
403,388 |
|
Net profit |
196,025 |
76,212 |
35,320 |
(2,073) |
305,484 |
|
Profit attributable to the Parent Company’s shareholders |
196,025 |
76,139 |
35,328 |
(2,068) |
305,424 |