Financial statement for the first quarter of 2019
After first quarter of 2019, Mostostal Warszawa Group earned a sales revenue of PLN 271 million and achieved a net profit of PLN 2 million.
In first quarter of 2019, we entered into new contracts amounting to a total value of PLN 122 million. Current value of Group's portfolio is PLN 2.057 million. The Group's portfolio will provide revenues for the next two years at a level close to that of 2018 and also becoming more diversified, as it grew with contracts from the general construction sector by 42%, infrastructure by 39% and industrial and energy by 19%. Portion of newly signed contracts enables the Group to receive advance payments that allow to finance their implementation during the initial phase.
The debt profile has not changed compared to last year and is still very beneficial for us. Only PLN 44 million from PLN 296 million are bank facilities and leasing. The remaining amount is loans obtained from the parent company - Acciona Construcción based in Madrid.
As at 31.03.2019, the total equity of Mostostal Warszawa Group amounted to PLN 92 million. The employment reached the level of 1.473 employees, remaining on par to the end of 2018.
Our goal for 2019 is to further increase the order portfolio and improve the profitability of our contracts, despite unfavourable external conditions, independent of the Group.