Czech construction and development group Metrostav raised its net profit by 79.6 percent yr/yr to Kc1.33bn last year and its sales rose by 6.2 percent to CZK 44.5 billion, company spokesman Vojtech Kostiha announced.
The Metrostav group has grown to include 72 companies and the number of employees rose to nearly 5,800 at the end of last year.
Despite difficult conditions during the pandemic, the Metrostav group generated a record turnover in 2021 and the consolidated operating income rose by almost CZK 2.6bn y/y, amounting to a record Kc44.5bn, the group said.
Construction group Metrostav contributed the most to the sales (CZK 19.3bn), followed by companies Subterra, BeMo Tunnelling and Metrostav Infrastructure, which specialises in road, motorway and bridge construction.
Nearly a third of the group’s projects are carried out abroad, especially in Slovakia, Scandinavia and Germany.
The group’s largest projects last year included for example the geological survey for the D line of the Prague metro carried out by construction company Metrostav. The consortium that signed the contract for the construction of the D line’s first section is led by Subterra.
Metrostav Infrastructure completed the reconstruction of the D1 motorway last year, among other things.
Metrostav Development sold 517 residential units last year, the highest annual amount in the company’s history.
Abroad, the group’s projects include building a motorway tunnel in Sweden, extending the metro in Stockholm, and constructing a tunnel on the German A44 motorway, for example.
The group’s parent company Metrostav has been banned from participating in public procurement for three years starting this June, as the appeals court in Prague confirmed the 2020 regional court verdict, convicting the company of corruption and manipulation with public contracts in the Central Bohemia Region.
Metrostav also received a fine of Kc10m and Metrostav Infrastructure is included in the ban on participating in public procurement. The group disagrees with the sentence and has filed an appeal with the Supreme Court. Construction company Metrostav is being prosecuted in another three cases.
The group’s main shareholders are companies DDM Group (51.34 percent), DOAS SK (23.18 percent) and DOAS CZ (17 percent). A few individuals from Czechia and Slovakia are behind the three companies.
Source: Metrostav and CTK
