Budimex Sa · GPW:BDX

Budimex Sa — 3Q 2011 YTD Earnings Presentation

28 slides from Budimex Sa's earnings presentation, 2011

  1. Slide 1: Presentation for investors

    ethics teamwork responsibility ambition Presentation for investors Financial results 3Q ytd 2011

  2. Slide 2: Budimex: most valuable construction company

    Budimex: most valuable construction company… ...leaving others far away behind as of 30.09'11 (M PLN) 0,83% -41,00% -29,26% -8,34% 14,50% -49,26% -33,95% % change vs. 31.08'11 1 864 801 693 440 247 206 160 Budimex PBG Polimex Mostostal Erbud Polaqua Mostostal Mostostal Warszawa Zabrze © Controlling

  3. Slide 3: Dynamics of construction sales (bn. PLN)

    Dynamics of construction sales (bn. PLN) Budimex construction sales in Poland Polish construction production* infrastructure non residential residential 36,1% 19,2% 3,46 63,5 2,54 53,2 2,32 37,4 30,2 1,58 0,88 15,7 18,0 0,83 0,14 0,26 7,3 8,1 3Q'10 ytd 3Q'11 ytd 3Q'10 ytd 3Q'11 ytd * construction pr

  4. Slide 4: Budimex Group 3Q'11 ytd (M PLN)

    Budimex Group 3Q’11 ytd (M PLN) dynamics ’11 vs.… as % of sales 3 823 Sales Gross margin 3 161 367 323 326 2 442 20,9% 56,5% 8,4% 11,6% 13,4% '11 '10 '09 '11 '10 '09 EBIT Net profit 207 237 259 194 130 143 6,2% 8,2% 5,9% 5,1% 6,6% 5,3% '11 '10 '09 '11 '10 '09 © Controlling Office 4

  5. Slide 5: Group net treasury position (M PLN)

    Group net treasury position (M PLN) net treasury position cash* debt 1 776 1745 1 052 815 1022 964 889 838 696 645 -22 -31 -30 -51 -75 09 '10 12 '10 03'11 06'11 09'11 * on company’s hands © Controlling Office 5

  6. Slide 6: Results by segments 3Q'11 ytd (M PLN)

    Results by segments 3Q’11 ytd (M PLN) Internal Budimex Group Construction Developer Other activities eliminations Sales 3 822,7 3 576,5 207,5 175,8 -137,1 Gross margin 322,6 274,9 36,8 15,6 -4,7 as % of sales 8,4% 7,7% 17,7% 8,9% Overheads -120,4 -104,2 -15,0 -9,2 8,1 as % of sales -3,1% -2,9% -7,2%

  7. Slide 7: Construction segment

    Construction segment © Controlling Office 7

  8. Slide 8: Construction segment 3Q'11 ytd (M PLN)

    Construction segment 3Q’11 ytd (M PLN) dynamics ’11 vs.… as % of sales Sales Gross margin 3 576 275 272 252 2 634 2 218 35,8% 61,3% 7,7% 9,6% 12,3% '11 '10 '09 '11 '10 '09 EBIT Net profit 210 173 143 122 115 113 5,9% 5,4% 5,1% 4,8% 4,6% 5,2% '11 '10 '09 '11 '10 '09 © Controlling Office 8

  9. Slide 9: Construction segment sales (M PLN)

    Construction segment sales… (M PLN) ...another quarter of record turnover 1 517 1 391 1 276 1 180 993 669 365 1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 © Controlling Office 9

  10. Slide 10: Construction segment EBIT (M PLN)

    Construction segment EBIT... (M PLN) ...next quarter of improvement 93 80 73 70 58 37 15 1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 © Controlling Office 10

  11. Slide 11: Construction sales structure (M PLN)

    Construction sales structure (M PLN) Residential Non-Residential Infrastructure 3Q'10 ytd 3Q'11 ytd 5% 7% 35% 28% 60% 65% 2 634 M PLN 3 576 M PLN © Controlling Office 11

  12. Slide 12: Construction backlog (M PLN)

    Construction backlog (M PLN) Contracts realized with backlog value > 1 M PLN: Residential 09'09 09'10 09'11 Number of contracts 77 108 113 Non-Residential Average value 59 66 67 Infrastructure 7 663 7 205 383 455 2 223 1 592 4 622 253 1 206 5 158 5 057* 3 163 09'09 09'10 09'11 * railway contract for

  13. Slide 13: Construction contracts signed (M PLN)

    Construction contracts signed (M PLN) Residential Non-Residential 4 567 Infrastructure 375 4 203 257 3 232 1 338 1 779 880 2 854 2 270 2 167* 1-9'09 1-9'10 1-9'11 * included railway contract for 698 M PLN signed in May’11 © Controlling Office 13

  14. Slide 14: Infrastructure contracts signed (M PLN)

    Infrastructure contracts signed (M PLN) Contracts signed Offers identified Bidding effectiveness 3Q'11 1 469 15 335 14% ytd 3Q'10 2 854 28 523 10% ytd 3Q'09 31 975 ytd 2 270 7% © Controlling Office 14

  15. Slide 15: Developer segment

    Developer segment © Controlling Office 15

  16. Slide 16: Budimex Nieruchomości: where we are

    Budimex Nieruchomości: where we are Project name Number of flats Goclawska 323 Inflancka III 249 Wolczynska 320 Total 892 Land bank 2 553 Warsaw Poznan Project name Number of flats Smolna 13A I 178 Total 178 Land bank 1 115 Cracow Project name Number of flats Mysliwska I 162 Total flats under constr

  17. Slide 17: Developer segment 3Q'11 ytd (M PLN)

    Developer segment 3Q’11 ytd (M PLN) dynamics ’11 vs.… as % of sales Sales Gross margin 452 83 57 208 199 37 -54,1% 4,3% 17,7% 18,4% 28,4% '11 '10 '09 '11 '10 '09 EBIT Net profit 75 55 35 24 26 19 12,7% 16,7% 17,6% 11,6% 12,2% 9,4% '11 '10 '09 '11 '10 '09 © Controlling Office 17

  18. Slide 18: Notary sales in 2011 (number of flats)

    Notary sales in 2011 (number of flats) Drop in sales in 2011 in developer segment results from the fact that notary sales come only from projects finished before 2010 313 386 233 198 69 73 46 153 40 already presold 33 not yet presold Stock (from Notary sales Notary sales Notary sales Stock (from fin

  19. Slide 19: Net presales yoy (number of flats)

    Net presales yoy (number of flats) Warsaw Cracow Poznan 550 529 368 476 \ 122 53 60 3Q'10 ytd 3Q'11 ytd © Controlling Office 19

  20. Slide 20: Presales (number of flats and value)

    Presales* (number of flats and value) Volume 311 Warsaw Cracow 238 245 231 Poznan 181 181 129 150 308 188 164 101 181 114 89 44 55 50 23 1Q '10 2Q '10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 Value 1Q'11 2Q'11 3Q'11 115 M PLN 67 M PLN 67 M PLN 5% 11% 6% 12% 11% 24% 65% 84% 83% * flats returned not included © C

  21. Slide 21: New projects: presales as of 30.09'11

    New projects: presales as of 30.09’11 08’11 12’10 12’10 11’10 07’10 05’11 06’10 Presales starting date 1 466 323 320 Flats 644 14 presold 249 143 178 162 162 136 309 33 Not 87 presold 177 161 72 822 113 129 91 70 1 2 Goclawska Wolczynska Inflancka III Smolna 13A Mysliwska I Mysliwska II Nad Wilga II

  22. Slide 22: Budimex land bank

    Budimex land bank Warsaw: 27,4 ha Dolny 23,5 ha Stare 3,2 ha Mokotow 1 989 flats Miasto 765 flats 3,9 ha Bemowo 2,1 ha 564 flats Cracow: 16,6 ha Wilda 350 flats Warsaw Poznan Poznan: 5,3 ha Pradnik 1,8 ha Czerwony 404 flats TOTAL: 49,3 ha Czyzyny 14,3 ha 3 207 flats 0,5 ha Podgorze 107 flats Cracow

  23. Slide 23: Other activities

    Other activities © Controlling Office 23

  24. Slide 24: Other activities 3Q'11 ytd (M PLN)

    Other activities* 3Q’11 ytd (M PLN) dynamics ’11 vs.… as % of sales Sales Gross margin 176 16 95 98 8 7 85,6% 79,6% 8,9% 7,0% 8,4% '11 '10 '09 '11 '10 '09 EBIT Net profit 3 -1 -1 -3,6% -0,8% -0,7% -1,4% 3,7% -1,3% -2 -1 -6 '11 '10 '09 '11 '10 '09 * Budimex Danwood result (timber frame houses product

  25. Slide 25: Budimex Danwood activity (number of houses)

    Budimex Danwood activity (number of houses) 735 Backlog Germany 597 Poland Other 365 658 504 288 68 76 62 12'09 12'10 09'11 Contracts signed 549 475 300 420 518 238 52 45 24 1-9'09 1-9'10 1-9'11 © Controlling Office 25

  26. Slide 26: Internal eliminations

    Internal eliminations © Controlling Office 26

  27. Slide 27: Internal eliminations 3Q'11 ytd (M PLN)

    Internal eliminations* 3Q’11 ytd (M PLN) 3Q'11 ytd 3Q'10 ytd 3Q'09 ytd Sales -137,1 -20,0 -72,4 Gross margin -4,7 25,8 -10,8 Overheads 8,1 10,8 6,6 EBIT 3,4 37,8 -3,5 Gross result 3,4 37,8 -4,0 Net result 2,7 30,7 -3,3 * mainly construction segment to developer segment © Controlling Office 27

  28. Slide 28: For further information, please contact

    For further information, please contact: Magdalena Boruszewska [email protected] www.budimex.com.pl

Budimex — 3Q 2011 YTD Earnings Presentation on 6ix