Dekpol reported PLN 78.79 million in consolidated net profit attributable to shareholders of the parent company in 2022, compared to PLN 75.8 million in profit a year earlier, the company said.
Operating profit was PLN 120.05 million vs. PLN 112.99 million profit a year earlier. EBITDA profit amounted to PLN 135.57 million vs. PLN 124.98 million profit in this terms a year earlier.
Consolidated sales revenues reached PLN 1,386.85 million in 2022 against PLN 1,255.78 million a year earlier.
“The year 2022 was another test for us, confirming that the diversification of operations within Dekpol and the strategy to grow in three main complementary segments and in the gaining area of prefabrication (Betpref) is bearing fruit and allowing us to offset unfavorable trends within the Group. Our revenues increased by 10% and exceeded PLN 1.38 billion, and net profit increased by more than 4% to just under PLN 80 million – so we recorded very good results in the Group’s history, despite a very challenging environment,” said CEO Mariusz Tuchlin.
Betpref – which was acquired in 2018 – was focused on executing orders for external construction rms in 2022.
“Additionally, seeing the prospects and development of the prefabrication market, in the summer of 2022 we completed the acquisition of the Kombet Plant in Działdów. It is our intention to further develop in the prefabrication area, as we see great potential there,” the CEO pointed out.
“The General Contracting segment (Dekpol Construction) performed very well for another year in a row, exceeding PLN 1 billion in revenue. Our focus on short-term contracts and continuous improvement in our bidding have caused us to maintain our margins at a satisfactory level, despite the dynamically rising prices of materials and services,” Tuchlin also assessed.
Dekpol Developer’s contribution to the Group’s results was lower in 2022 due to the specifics of the handover schedule of individual projects. Due to the cessation of lending, the level of newly concluded contracts was lower than planned at the beginning of 2022, but the historically high share of “cash” customers and the wide, diversified offer make the company achieve satisfactory sales levels with good margins, the CEO also reported.
“Dekpol Steel, on the other hand, has had another good year in terms of revenue. Thanks to the acquisition of the Intek plant in Lubawa (FY2021), we increased production capacity and realized very good production and sales volumes in the first half of the year. However, the outbreak of war in Ukraine led to weaker demand in the buckets and attachments segment, which, combined with rising costs, was reflected in the results. Thanks to decisive and quick decisions by management, within weeks Steel and Intek began production for customers in the prospective offshore, green energy and other steel structures segments, as well as the procedure for obtaining licenses required for defense segment suppliers, including NATO, began. We assume that this temporarily difficult time may pay off in the future,” Tuchlin concluded.
On a standalone basis, net profit in 2022 was PLN 1.21 million, compared to PLN 26.12 million profit a year earlier.
Dekpol is based on three main segments: general contracting services, production of buckets and attachments for construction machinery and real estate development activities. The company’s shares have been listed on the WSE since 2015. It had consolidated revenues of PLN 1,386.85 million in 2022.
Source: Dekpol and ISBnews
