Polimex Mostostal Capital Group’s financial results for the first quarter of 2018
The Polimex Mostostal Capital Group published its financial results after the first quarter of 2018. The company generated operating revenues of over PLN 348 million. EBITDA after three months of 2018 for the Company amounted to PLN 11 million, and operating profit PLN 5 million.
Selected financial data of the Polimex Mostostal Capital Group
for the first quarter of 2018 in PLN million
The past three months of 2018 is a period of hard work and difficult decisions for the Capital Group. I am aware that the Company is still in the process of reorganization and that time is needed in the construction industry for success. I know Polimex Mostostal, we worked together on the project of building the B11 Block in Kozienice and I know that it is a company based on solid foundations and human capital with great potential. I'm sure we are heading in the right direction. - said Krzysztof Figat, president of the board of „Polimex-Mostostal" SA.
Operating revenues of the Polimex Mostostal Capital Group in the first quarter of 2018 amounted to PLN 348 million and were lower by PLN 197 million compared to the same period in 2017. The downward trend in operating revenues results mainly from the successive settlement of strategic contracts in Opole and Kozienice carried out by the Group. - said Maciej Korniluk, vice president of the board of "Polimex-Mostostal" SA for financial affairs.
In accordance with the previously adopted assumptions of the strategy, we consistently focus on the effective use of the full potential of the companies belonging to the Capital Group. We have implemented a number of changes that improve the way the organization operates and profitability. We are convinced that it will bring tangible benefits to us.
Currently, the situation at Polimex Mostostal is stable. The order backlog at the end of March 2018 is 1.7 billion. PLN of which almost 60% are non-strategic projects. For example, we can boast of the signed in March this year the contract between our company Naftoremont-Naftobudowa, and PERN SA for the construction of storage tanks for liquid fuels with a total capacity of 128 thousand. m³ in Koluszki and Nowa Wieś Wielka and worth PLN 65 million.
In the next quarters, we will concentrate our efforts on building a profitable portfolio not only of large, but also smaller projects for the coming years - Przemysław Janiszewski, Vice-President of the Management Board of "Polimex-Mostostal" SA responsible for the operational area added.