Budimex (BDX) Q4 2024 earnings summary

Executive summary

• Sales revenue for 2024 was PLN 7,509 million, down 11.3% year-over-year, with gross profit margin rising to 10.9% from 10.6% in 2023.

• Net profit for 2024 was PLN 649 million, a decrease of 13.4% compared to 2023.

• The order book at year-end reached PLN 17.1 billion, securing work through 2026 and supporting future growth.

• Operating profitability remained stable at 8.3%, with continued focus on cost control and process optimization.

Financial highlights

• Total assets at year-end were PLN 6,659 million, down from PLN 7,349 million in 2023.

• Equity decreased to PLN 935 million from PLN 1,199 million, mainly due to a high dividend payout.

• Dividend paid in 2024 was PLN 911 million (PLN 35.69 per share), exceeding net profit for 2023.

• Cash and cash equivalents at year-end were PLN 2,770 million, down from PLN 3,485 million.

• Gearing ratio increased to 58.6% from 48.1% due to the dividend payment.

Outlook and guidance

• The company expects continued stability, supported by a diversified and record-high order book.

• Focus areas for 2025 include scaling business abroad, executing strategic infrastructure projects, and expanding in the energy and military construction segments.

• Investment purchases planned for 2025 are approximately PLN 120 million.