Construction firm Metrostav raised its net profit by 15.5 percent yr/yr to CZK 721.8m in 2021 and its sales fell by 18.2 percent to CZK 19.296bn, partially due to the transfer of projects to specialised subsidiaries, according to the company’s annual report.
The board proposed that the general meeting, held per rollam for the second time, approve a dividend of CZK 23 per share, the same as last year.
“The company had to face continued impacts of anti-pandemic measures and resulting economic instability in 2021, but despite the adverse external factors, 2021 was a successful year for the Metrostav group,” said board chairman Frantisek Koci.
The company has CZK 181.8m to pay out profit shares to shareholders, almost the same amount as last year. The remaining profit amount will be transferred to retained earnings and used to develop subsidiaries.
Although turnover decreased, the profit rose, meaning that profitability increased, announced Metrostav spokesman Vojtech Kostiha.
The decline in sales was controlled, he added, as some orders were transferred to specialised subsidiaries, mostly to Metrostav Infrastructure, which deals with road and motorway construction.
Around two fifths of Metrostav’s sales were generated abroad, primarily in Scandinavia. Its projects in Czechia included for example the geological survey for the D line of the Prague metro.
The company is being prosecuted in four cases. In one of them, concerning alleged corruption and manipulation of contracts in the Central Bohemia Region, Metrostav has received a non-final ban on participating in public procurement for three years and a fine of CZK 10m.
Metrostav donated CZK 15m to the Ukrainian embassy in Czechia and sent a collection of humanitarian material to Ukraine.
Metrostav was established in 1971.
It employed 2,522 people at the end of last year.
