Positive results of "Polimex-Mostostal" SA after three quarters of 2017
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Polimex Mostostal Capital Group published its financial results after three quarters of 2017. The Company recorded operating income of PLN 1.672 billion. After nine months of 2017, the Company’s EBIDTA (earnings before interest, taxes, depreciation and amortization) amounted to PLN 88 million, with PLN 66 million in operating profits.
Our financial results for the past nine months of 2017 indicate that the Company is moving in the right direction. We are already entering the operation stage of the Polimex Mostostal Capital Group Development Plan. One of our flagship projects, namely construction of the most modern, coal-fired power plant in Europe - B11 unit in Kozienice, is scheduled to be completed in December [of this year]. In November of this year, we will launch construction works on another investment project - construction of a gas and steam unit in EC Żerań, a strategic investment not only for the Warsaw metropolitan area, but also for the national energy security. We are working very hard on new projects, not only the strategic ones, but also smaller ones, the share of which in our order portfolio is growing. – said Antoni Józwowicz, president of "Polimex-Mostostal" SA’s management board. In contrast to the same period of 2016, after nine months of this year we have turned a profit at every level of our financial results. We continue to work on effective use of the full potential of the companies that are part of the Group. We plan to end 2017 with a positive financial result. – says Andrzej Juszczyński vice-president of "Polimex-Mostostal" SA’s management board (CFO). I see a great potential in the Polimex Mostostal Capital Group. We have unique experiences and references in the implementation of investments in the EPC [Engineering Procurement Construction] formula. We have introduced a new, project-based, organizational structure in the Group. We can pride ourselves on good cooperation with technological partners, great manufacturing potential in Siedlce, and most importantly, professional, highly-qualified employees. As the leader of the Polish construction industry, we are ready and we have the competence to carry out difficult and ambitious projects in the role of a general contractor, not only in Poland but also abroad. -added Przemysław Janiszewski, vice president of "Polimex-Mostostal" SA’s management, in charge of operations. Presentation of Polimex Mostostal Capital Group’s Financial Results for Q1-Q3 2017
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