Mostostal Zabrze improves financial results

23-02-2007, 16:22

Warsaw (Puls Biznesu) – The company with headquarters in Zabrze improves results. It is going to catch up with the leaders and employ Chinese specialists.

Warsaw (Puls Biznesu) – The company with headquarters in Zabrze improves results. It is going to catch up with the leaders and employ Chinese specialists.

 In 2006, Mostostal Zabrze, a listed construction company, had PLN 485.3m (EUR 124.7m) of sales, or 40 percent more than last year. Net income amounted to PLN 68.7m against PLN 20m of loss in 2005.

“We are taking part in big tenders in energy and environmental sectors. We have no limits for further expansion. We are after restructuring, an issue and we have funds”, Adam Konopka, Mostostal Zabrze CEO said.

The company raised its forecast to PLN 35m of net income and PLN 600m of sales this year, up from PLN 25 and PLN 500 respectively. Since December 2006, Mostostal has signed contracts worth PLN 150m.

 

In 2008, the company, which has recently been on the verge of bankruptcy, wants to be a big player.

“We want to join the leaders. Polimex and Budimex have contracts signed when the market was receding and they are losing now”, Zbigniew Opach, Mostostal’s chairman and biggest shareholder said.

The company is going to employ specialists from Chine. They are supposed to replace the missing Polish workers. In 2007, there should be 300 of them. The company will also enter the Spanish and Russian markets.

(PLN 1 = EUR 0.257)

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