The portfolio of Erbud rose to PLN 1.07bn (EUR 318.4m), nearly twice as much as last year.
“In the same period of 2007, our portfolio amounted to PLN 660m. The growth is very strong today and I don’t worry about next year”, Dariusz Grzeszczak, Erbud CEO said.
The company has just signed contract to build a shopping mall in Walbrzych for PLN 229m and flats in Wroclaw for PLN 101.99m. Out of PLN 1.07bn of the portfolio, PLN 500m will be realized next year. The CEO expects further record years. This year, the company forecasts PLN 51m of consolidated net income and PLN 932m of sales. The CEO admits that there are no big road building orders and 80 percent of orders are for buildings.
Ebrud hopes to earn money thanks to construction works before EURO 2012. It has submitted offers to build stadiums in Gdansk and Wroclaw. Decisions are due in the first quarter of 2009.
“We hope to get at least one of these contracts. They may be worth PLN 500-700m. 30-40 percent of that would come for Erbud. We expect main revenues from stadium building in 2009”, Dariusz Grzeszczak said.
Erbud is negotiating five contracts to build shopping malls, each worth PLN 100-200m. The company hopes to sign at least three contracts in this sector.
(PLN 1 = EUR 0.298)