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RESBUD SE’s solid results for H1 2021: EUR 28.625 million revenue and EUR 1.729 million operating profit

01.10.2021

RESBUD SE’s solid results for H1 2021: EUR 28.625 million revenue and EUR 1.729 million operating profit

On the 30th of September, 2021, RESBUD SE, a company listed on the Warsaw Stock Exchange since 2007, for the first time published consolidated financial report with the companies acquired in the first quarter of this year: Energokomplekt OOO, Conpol sp. z o.o. and Uniwersim sp. z o.o. The dynamically growing group, operating on the construction, power and civil engineering markets, as well as in the area of production, logistics and supply of materials for the construction and power sectors, generated in the first half of 2021 revenues of EUR 28.625 million, EUR 615 thousand net profit and EUR 1.729 million operating profit. In the second half of 2021, RESBUD SE will continue to work intensively on its transformation into a modern European holding company.

– The first half of this year was extremely important for us. With the completion of the first stage of RESBUD SE transformation, we have started a new chapter in the history of our business. We are consistently building a modern holding of companies from different industries – our goal for the coming months is to strengthen the position of the established holding and its development. We are also analyzing the possibility of extending RESBUD SE with next business entities – says Krzysztof Długosz, President of the Management Board at RESBUD SE.

The most important event of the last year for RESBUD SE was the successful completion of the private subscription process, under which agreements were concluded for the acquisition of a total of 218,520,263 new shares in the company with a value of more than EUR 32 million, through contributions of shares in Energokomplekt OOO, Conpol sp. z o.o. and Uniwersim sp. o.o. As a result, the share capital of RESBUD SE increased to over EUR 26 million (from EUR 1.991 million previously), and the company took over 100% of shares in the above-mentioned entities.

It is also worth noting that after the first quarter of 2021 the shares of RESBUD SE were included in four stock exchange indices listed on the Warsaw Stock Exchange: WIG, WIG-Poland, WIG-construction and Investor MS.

In the first half of 2021, Energokomplekt OOO, a contractor in energy and construction contracts and a comprehensive operator of the supply of equipment, materials, construction chemicals and specialized devices for large energy, hydraulic engineering and infrastructure investments, signed several significant contracts, including three agreements which cover the supply of equipment for investments carried out by PT- Engineering AO (the total value of these contracts is approximately EUR 3.8 million) and two contracts with “Kompleksnyje projekt w ekologii i energetike” OOO, covering the supply of thermo-mechanical equipment (the total value of these contracts is approximately EUR 2.75 million). During the period, subsidiary of RESBUD SE also completed the delivery of basic materials for the construction of the second 220 kV overhead line “Minusinskaya master station – Kamala-1” in Krasnoyarsk Krai, Russia.

In the reporting period, Conpol was engaged in construction of bridges and road for the 23-kilometre-long section (from Szczuczyn to Elk South) of the S61 Via Baltica expressway running from Warsaw to Tallinn in Estonia, as well as the production of concrete for this investment. In the first half of the year, Conpol sp. z o.o. together with Uniwersim sp. z o.o. also continued to work on increasing the number and value of executed contracts.

In the period from January to June 2021, RESBUD SE holding generated EUR 28.625 million revenue, EUR 615 thousand net profit and EUR 1.729 million operating profit.

– The first consolidated financial report presents RESBUD SE as a large, well-organized, international holding company with potential for development and further expansion. The combined strengths, experience and financial capabilities of RESBUD SE, Energokomplekt OOO, Conpol sp. z o.o. and Uniwersim sp. z o.o. allowed us to achieve solid results in the first half of 2021. Significant capitals, the amount of revenue and the amount of generated profit allow us to look into the future with optimism. We are also pleased with favorable profitability ratios, including the operating profit of 8.5% – says Joanna Dyja, Member of the Management Board at RESBUD SE.

The general debt ratio, which shows to what extent the company is burdened with debts, should oscillate between 0.57-0.67. RESBUD SE achieved 0.50, which indicates that the company finances its operations mostly with own funds and only then uses trade credit. Currently, none of companies included in the holding use a bank loan.

As of 4 February 2021, RESBUD SE holds in its portfolio 100% of shares in Uniwersim sp. z o.o., 100% of shares in Conpol sp. z o.o. and 100% of shares in Energokomplekt OOO (87.8% directly and 12.2% indirectly). This results in the obligation for the company to prepare consolidated financial report with the above-mentioned companies starting from 2021.

The full annual report of RESBUD SE for the first half of 2021 can be read on the Company’s website: https://www.resbud.ee/en/reports/condensed-consolidated-semi-annual-report-2021/.

 

Contact for media: media@resbud.ee

Contact for IR: ir@resbud.ee

 

About RESUD SE

RESBUD SE is a modern, dynamically growing European holding company, operating in the construction, power and civil engineering, as well as production, logistics and supply of materials for the construction and energy sectors. The company has been listed on the Warsaw Stock Exchange since September 2007. It combines a modern approach to business with 70 years of experience in the construction industry.

The companies in its investment portfolio (Energokomplekt OOO, Conpol sp. z o.o. and Uniwersim sp. z o.o.) are primarily engaged in: construction of civil engineering structures on road and railroad tracks, erection of reinforced concrete structures, civil engineering works, production of bituminous masses and concretes, as well as supply of materials and equipment for large infrastructural investments, including equipment for construction and modernisation of power facilities.

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