Prezentacja programu PowerPoint · 9 budimex Budimex Group Financial highlights mln PLN 1Q 2008 1Q...

budimex

budimex

Budimex Group

Presentation for investorsfor 1Q 2008

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Budimex GroupOur strategy

40 years on the market

„Building long term value”

backlog value significant growth and structure change

solid platform for future growth

our goals:

profitability improvement backlog growthturnover growth

high quality servicesatisfaction of clientscomfort of users

shareholdersvalue

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Budimex GroupStructure of the Group

CONSTRUCTIONBUSINESS

REAL ESTATEBUSINESS

OTHERACTIVITIES

Budimex Dromex S.A.

Mostostal Kraków S.A.

Sprzęt Transport Sp. z o.o.(designed for disposal)

Budimex Inwestycje Sp. z o.o.

Budimex Nieruchomości Sp. z o.o. (J.V.)

Unibud Sp. z o.o.

Companies consolidated with equity method

Budimex Group

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budimex

Budimex GroupDescription of the business

• Construction of roads, highways,

• Renovations of existing roads,• Construction of bridges.

• Residential construction,• Non-residential general

construction (office buildings, shopping malls, plants),

• Airports.

• Construction of sewage treatment plants,

• Canalization systems.

Infrastructure

General construction

Ecological

• Development of residential property (flats).

Residential development

• Operating one hotel in Poland.Other services

• Rental of investment property to external clients.

• Operating one commercial parking lot.

Rental activity

• Production and developmentof timber – frame houses.

Timber – frame houses

• Electro – installation company(Elektromontaż Poznań S.A.),

• Production of switchboards(Elektromontaż Poznań S.A.),

• Highway licences(Autostrada Południe).

Other activity (equity pick-up)

CONSTRUCTIONBUSINESS

REAL ESTATEBUSINESS

OTHERACTIVITIES

Budimex GroupBudimex Group

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Budimex GroupStock exchange performance 1Q 2008

Warsaw Stock Exchange performance 1Q 2008

75,00%80,00%85,00%90,00%95,00%

100,00%105,00%110,00%

2007-12-28 2008-02-11 2008-03-26

WIG - construction WIG Budimex [PLN/share]

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Budimex GroupMarket capitalization as at 31 March 2008

Capitalization as at 31.03.2008 vs competitors

4 298

3 715

2 145 2 139

1 379 1 260 1 131

0500

1 0001 5002 0002 5003 0003 5004 0004 5005 000

PBG Polimex MostostalSiedlce

Polaqua Budimex Mostostal Zabrze MostostalWarszawa

Erbud

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Budimex GroupConstruction market in PolandDynamics of the production 2001-2008

Dynamics of construction production 2001-2008

-12,0%

25,1%

1,1%

17,4%

7,4%

-5,9%-8,0% -8,0%

-0,9%

15,7%17,5%

-2,3%

5,6%

0,6%

12,6%

-0,2%

-15,0%

-10,0%

-5,0%

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

30,0%

2001 2002 2003 2004 2005 2006 2007 1Q 2008

Dynamics of construction production Dynamics of Budimex Group sales

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Budimex Group

Results 1Q 2008

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Budimex GroupFinancial highlights

mln PLN 1Q 2008 1Q 2007 ∆

Sales 653 654 -1% change 1Q 2008 vs. 1Q 2007 -0,2%

Gross margin 37 34 3as % of sales 5,7% 5,2%

Cost of sales and overheads -37 -34 -3as % of sales -6% -5%

Result on sales 1 0 1Other operating activity 11 1 10EBIT 12 0 12Financial activity 7 1 6Gross profit 20 1 19

Net profit 16 -1 17

Capital Expenditure -9 -2 -7

Construction backlog (as at 31 March) 3 290 3 312 -22

Presales of flats value 42 19 23

Land Bank (k m2 of flats) (as at 31 March) 255

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Budimex GroupResult by segments - sales

sales 1Q 2008

592

71 27

-37

653

Construction business

Real estatebusiness

Otheractivities

Elimination ofinternal

transactions *

TOTAL

sales 1Q 2007

574

73 29

-22

654

Construction business

Real estatebusiness

Otheractivities

Elimination ofinternal

transactions *

TOTAL* mainly Budimex Dromex(Construction segment) sales to Real Estate segment

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Budimex GroupResult by segments - EBIT

-14

19

-5

0 0

Construction business

Real estatebusiness

Otheractivities

Elimination ofinternal

transactions *

TOTAL

0

15

-1 -2

12

Construction business

Real estatebusiness

Otheractivities

Elimination ofinternal

transactions *

TOTAL

EBIT 1Q 2008

EBIT 1Q 2007

* mainly Budimex Dromex (Construction segment) margin on sales to Real Estate segment

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Budimex Group

Construction segment

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Budimex Group Construction segment Financial highlights

mln PLN 1Q 2008 1Q 2007 ∆

Sales 592 574 18% change 1Q 2008 vs. 1Q 2007 3%

EBITDA 4 -10 14as % of sales 0,7% -1,7%

EBIT 0 -14 14as % of sales 0,1% -2,5%

Gross Profit 10 -12 22

Net profit 8 -12 20

Capital Expenditure -8 -1 -7

Construction backlog (as at 31 March) 3 290 3 312 -22

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Budimex GroupConstruction segment Sales structure

Sales structure by type of works

Sales structure by markets

residential: 1Q2007 1Q2008• internal: 34% 45%• external: 66% 55%

1Q 20074%9%

87%

Polish Market German Market Eastern Markets

1Q 20080%

94%

6%

Polish Market German Market Eastern Markets

1Q 2008

32%

2%

41%

25%

General construction - residentialGeneral construction - non residentialInfrastructure construction Other sales

1Q 200714%

60%

22%4%

General construction - residentialGeneral construction - non residentialInfrastructure construction Other sales

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Budimex GroupConstruction segment Backlog structure

Backlog structure by type of works

residential including:

internal backlog: 21%

external backlog: 79%

residential including:

internal backlog: 44%

external backlog: 56%

31 III 2008

20%

26%51%

3%

General construction - residentialGeneral construction - non residentialInfrastructure constructionOthers (German market)Budimex Group backlog

3 312 3 290

1 000

3 000

31 III 2007 31 III 2008

31 III 20079%

45%

43%

3%

General construction - residentialGeneral construction - non residentialInfrastructure constructionOthers (German market)

Contracts with value > 1mln PLN III 2007 III 2008number of contracts 86 59average value (mln PLN) 34 51

Budimex Dromex backlog value to be realized in 2008: 1.913 mln PLN (including backlog with gross margin „0”: 113 mln PLN)

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Budimex GroupConstruction segment Contracts signed structure

residential including:

internal contracts signed: 0%

Contracts signed structure by type of works

Budimex Dromex S.A. 1Q 2007 1Q 2008number of contracts signed 11 4average value (mln PLN) 118 164

1Q 20079%

37%50%

4%

General construction - residentialGeneral construction - non residentialInfrastructure constructionOthers (German market)

1Q 2008

36%

3% 0%

61%

General construction - residentialGeneral construction - non residentialInfrastructure constructionOthers (German market)

Contracts signed by Budimex Group

1 345

784

0

500

1 000

1 500

1Q 2007 1Q 2008

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Budimex Group

Real Estate segment

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Budimex Group Real Estate segment Financial highlights

mln PLN 1Q 2008 1Q 2007 ∆

Sales 71 73 -2% change 1Q 2008 vs. 1Q 2007 -2%

EBITDA 16 19 -3as % of sales 22% 26%

EBIT 15 19 -4as % of sales 21% 26%

Gross Profit 13 18 -5

Net profit 10 14 -4

Presales 42 19 23

Land Bank (k m2 of flats) (as at 31 March) 255

100% of J.V 1Q 2008 1Q 2007 ∆

Sales 103 64 39% change 1Q 2008 vs. 1Q 2007 61%

Presales 76 37 39

Presales (volume of flats) 103 85 18

Land Bank (k m2 of flats) (as at 31 March) 497

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Budimex GroupReal Estate segment Notary sales and presales structure by city

Presales of flats structure

Notary sales of flats structure

1Q 2007

77%

22%1%

Warsaw Cracow Poznań

1Q 2008

99%

0% 1%

Warsaw Cracow Poznań

1Q 2008

42%49%

9%

Warsaw Cracow Poznań

1Q 2007

16%

53%

31%

Warsaw Cracow Poznań

69 mln PLN 68 mln PLN

19 mln PLN 42 mln PLN

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Budimex GroupReal Estate segment Presales of flats

Presales volume of flats (incl. 100% of J.V.)

1Q 2006 - 1Q 2008

0

50

100

150

200

250

300

1Q 2006 1Q 2007 1Q 2008

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Budimex GroupReal Estate segment Land bank

Land bank ageing (k m2 of flats), average flat is 59 m2 (incl. 50% of J.V.)

1036

91

103 15 255

0

50

100

150

200

250

300

2004 2005 2006 2007 2008

Land bank geographical structure (k m2 of flats) (incl. 50% of J.V.)

65%

25%

10%

Warsaw Cracow Poznań

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Budimex GroupReal Estate segment Land bank

Land bank ageing (k m2 of flats), average flat is 59 m2 (incl. 100% of J.V.)

10

71

182

20331

497

0

100

200

300

400

500

2004 2005 2006 2007 2008

Land bank geographical structure (k m2 of flats) (incl. 100% of J.V.)

64%

26%

10%

Warsaw Cracow Poznań

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Budimex Group

Other Activity

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Budimex Group Other Activity Financial highlights

mln PLN 1Q 2008 1Q 2007 ∆

Sales 27 29 -2% change 1Q 2008 vs. 1Q 2007 -5%

EBITDA -1 -4 3as % of sales -3% -15%

EBIT -1 -5 4as % of sales -2% -18%

Gross Profit -1 -5 4

Net Profit -1 -4 3

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Budimex GroupOther Activity Sales structure

Sales structure by country

Timber-frame houses backlog as at 31 March 2008

249

3163

130

50

100

150

200

250

300

German British Polish Other

market

volu

me

1Q 2008

64%10%

19%7%

Germany Poland U.K. Other countries

1Q 2007

68%4%

18%

10%

Germany Poland U.K. Other countries