Acciona Mostostal Warszawa is part of the Acciona Capital Group.

Comment of the Management Board of Mostostal Warszawa S.A. to the results for the third quarter of 2022

21 november 2022

The Mostostal Warszawa Capital Group for the period of 9 months of 2022 generated sales revenues in the amount of PLN 1,171 million (in the corresponding period of 2021, revenues amounted to PLN 882 million) and generated a profit on sales of PLN 81 million (in the corresponding period of 2021, profit on sales was PLN 80 million) and also gross profit of PLN 16 million (in the corresponding period of 2021, gross profit amounted to PLN 26 million). The cash position of the Capital Group at September 30, 2022 was PLN 128 million. Employment in the Capital Group was 1,533 employees.

The value of the order portfolio of the Mostostal Warszawa Capital Group at September 30, 2022 was to PLN 3,400 million. In the period from January to September 2022, Mostostal Warszawa S.A. signed contracts with a total value of PLN 635 million, and other companies of the Capital Group with a value of PLN 293 million.

The invasion of Ukraine and the resulting disruptions in supply chains and the energy market, as well as the increase in material and labor prices in the Polish construction sector, have a negative impact on the macroeconomic environment. On May 24, 2022, the Council of Ministers decided to increase the financial limit of the National Road Construction Program by PLN 2.6 billion and the Program for the construction of 100 ring roads by PLN 115 million. The decision also includes an increase to 10 percent indexation limit for contracts for which it was at a lower level so far. As a result of the above decision, Mostostal Warszawa concluded annexes increasing remuneration on contracts performed for the General Directorate for National Roads and Motorways, which allowed to limit the negative effects of the war in Ukraine and to improve the results in the third quarter of 2022 compared to the previous quarter. 

The effects of the war are transferred to the number of announced and concluded tenders in 2022. Despite of it, the agregate backlog of the Capital Group is  healthy, diversified, securing activity for almost 3 years. We take actions to keep our Capital Group in good condition. We focus primarily on providing the highest quality of our services, as well as proper cooperation with our clients and subcontractors. We maintain active but safe bidding, taking into account price increases and the availability of qualified employees.  We also want to be an active participant in the transformation of the Polish energy sector, with our own work and experience and our strategic partner - Acciona - to support the reduction of environmental nuisance in the energy sector and industry.

The financial statements of the Mostostal Warszawa Capital Group for the third quarter of 2022 are available on the website in the Periodic Reports tab.