Sales for Poland’s top builder Budimex fell last year to PLN 4.75bn, a substantial 22-percent drop compared to 2012, when the group posted a record PLN 6.1bn in sales. At the same time, the group’s net profit rose to PLN 300.5m, from PLN 186m in 2012. The company reported PLN 61,811 in impairment losses last year. The figures are in line with market expectations. Analysts point out that 2013 was slow for most Polish builders, as they were waiting for 2014-2016 funding from the European Union.
Budimex’s order book amounted to PLN 4.3bn last year, with a cash flow of PLN 1.562m, which included the company’s equity, as well as its short-term notes.
