2011-05-13
2011 forecast: a stronger net margin
The Management Board of Hydrobudowa Polska expects its net profit to come in at nearly PLN 50m, with revenue reaching PLN 1.6bn in 2011.
The Group’s 2011 financial forecast, published today, assumes a modest 1% rise in revenue and a strong 37% year-on-year increase in net profit. In comparison, the Group earned PLN 36.5m in net profit last year, with consolidated sales revenue in excess of PLN 1.58bn.
The assumptions underlying this year’s forecast are conservative as they have been based on the Group’s existing order book, which has strong prospects for growth. The consortia comprising Hydrobudowa Polska have secured best-bidder positions in tenders for the construction of the following projects: a tunnel under the Martwa Wisła river in Gdańsk (PLN 720m, VAT excl.), water supply and sewage infrastructure in the Piekło and Antoniów districts of Dąbrowa Górnicza (nearly PLN 52m), and an interactive history museum of Ostrów Tumski in Poznań (over PLN 39m).
Based on the revenue figures posted in Q1 2011 and the structure of the Group’s order book, it is expected that revenues of the road construction segment will account for the largest portion of total sales in 2011 (approx. 39%), followed by the residential construction segment (approx. 36%), water segment (approx. 21%) and gas, oil and fuels segment (4%).