Unibep SA announced the results for the third quarter of 2022.
With sales of approx. PLN 1.6 billion (an increase by 47% year to year), the Unibep Group generated approx. PLN 49 million of net profit (increase by approx. 97% year to year). These are the results the company achieved for the three quarters of 2022.
“We owe such good financial results mainly to Unidevelopment SA, which continues to benefit from last year’s economic situation,” concluded LeszekGołąbecki, President of the Management Board of Unibep SA. In the Unibep Group the total backlog of orders for the fourth quarter of 2022 and subsequent years in the construction and infrastructure part is approx. PLN 3.4 billion. This is PLN 960 million more than in the corresponding period of the previous year.
Recent months have been a difficult time for construction industry considering the unfavourable economic situation in Poland (with high prices of materials and services and rising energy costs) and the geopolitical situation related to the war in Ukraine.
“Currently, our operational goal is to defend the result on each construction project we run,” said Leszek Gołąbecki. “It is very difficult in the current situation. We have been talking for many months with all our clients about additional payments bearing such a valourisation of the agreements in mind that would allow for the increasing prices. We are pleased with the understanding of the majority of investors, with whom we have been looking for solutions allowing all parties to the construction process to achieve their business objectives. But it must also be said that we do not always reach an agreement with investors, which directly affects the profitability of some investments.
Unibep Group is a diversified capital group, which includes entities from various segments of construction industry. Currently, the segment which has beem doing the best is the newly established Power and Industry Construction segment. It has got a backlog of orders of approx. PLN 710 million. We are pleased with the dynamic development of this segment. We are currently running 13 investments in Poland. It is worth adding that the number of orders in the energy segment is growing. We have concluded agreements for replacement and construction of boilers in Heating Plants in Ełk and Hajnówka. We can say that we have already got actively involved in the energy transformation of our country,” said Leszek Gołąbecki.
The infrastructure segment has the contracted backlog reaching approx. PLN 950 million, and the largest segment of the Unibep Group’s operations, which is General Contracting, has the backlog worth approx. PLN 1.6 billion.
“In 2022 alone, we signed contracts worth roughly PLN 2.7 billion. It should be noted that this year’s agreements give us a chance to achieve higher profitability of our business,” added the president of Unibep SA. “But as I said, it won't be easy”.
In connection with high inflation and limited action when it comes to mortgage loans, Leszek Golabecki stresses the stability of the developer in Unibep Group. “When facing the current market situation, the multi-stage projects are of particular importance for Unidevelopment SA,” explained the president.
He stresses the fact that the land bank of Unidevelopment currently comprises the land in Warsaw, Poznań, Radom and the Tri-City allowing for construction of over 5 000 sq.m. of residential premises. The current bank of land guarantees sustainable development of the company in the coming years and creates space for further investments.
“When we look at our backlog of order, we can proudly say that we have got a lot work to do. However, I want to stress that notwithstanding the circumstances or problems, the priorities of Unibep Group have been the same for years. These are high quality of services and products, timely implementation, customer satisfaction, and good standing of the company, including its finances, care for its personel and the environment,” concluded Leszek Gołąbiecki.
The report for Q3 2022 is available in the Investor Relations tab.