The Pekabex Group celebrated its 50th anniversary with excellent financial results. Revenues reached PLN 1.67 billion (+11.5% yoy), EBITDA PLN 127.68 million (+51% yoy), and net profit PLN 67.25 million (+65.5% yoy). In 2022, the Group performed 585 contracts, and entered 2023 with a well-diversified portfolio of orders amounting to PLN 1.1 billion. The annual production of prefabricated elements remained at a very high level, reaching 264,093 m³. The culmination of the historically record-breaking year is the Management Board’s recommendation to allocate PLN 0.41 per share for dividend.
„I am pleased to say that last year we returned to the path of record results, despite the many challenges that the entire construction industry had to face. Thanks to the flexibility and understanding of the situation on the part of our Business Partners, we managed to solve most of the problems related to contracts affected by the increase in the prices of materials and raw materials. Once again, our proven weapon in the fight against market turbulence has also turned out to be the consistently implemented Strategy for 2020-2024 “Safe Development”. Thanks to this, we first came out of the covid crisis unscathed, and last year we were able to overcome the mounting problems resulting from the war in Ukraine. We are pleased with the growth of our activities abroad, especially on the German market. Last year, exports accounted for 26% of total revenues, and our ambition is to achieve 30% of sales on foreign markets. Our financial situation is good. We still want to be perceived by the market as a dividend company, which is why we intend to share our profit with shareholders for the eighth time in a row. The proposal of the Management Board is PLN 0.41 per share” – said Robert Jędrzejowski, President of Pekabex.
The strategic activities of the Pekabex Group, in addition to automation, increasing the efficiency of processes and technical perfection, assume geographic and product diversification (prefabricated elements can be used in every segment of the construction market: warehouse and logistics buildings, production halls, stadiums, residential buildings or engineering facilities). The third, equally important area is segment diversification, focusing on three business lines: prefabrication, general contracting of investments, as well as property development. Thanks to this, the Group can provide comprehensive services within the Group, and at the same time has the opportunity to better understand the needs of customers.
„There are many indications that 2023 will be another demanding period for the construction industry, which is becoming the new market normality. According to Pekabex’s mission statement, however, we believe that prefabrication is the future of construction. Therefore, we continue the process of transforming the Group into an entity that is increasingly looking for a competitive advantage in the use of modern technologies and providing customers with comprehensive services. I see special opportunities in the residential construction market. Despite a temporary decrease in the demand for finished apartments, caused by the collapse of the mortgage market, I expect its rapid recovery due to the dynamic development of the segment of apartments for rent and government programs subsidizing mortgage loans. Reducing the number of employees on construction sites, significantly shortening the length of the investment process in relation to traditional methods by up to 40%, and greater resistance of projects implemented in prefabrication technology to sudden and unexpected increases in the prices of raw materials and materials will allow for a significant increase in Pekabex’s share in this segment. Despite a temporary slowdown, there is still demand for industrial and hall investments resulting from nearshoring trends. We can also observe spectacular investments, some of them located just beyond our western border, resulting from the planned abandonment of the use of internal combustion engines and the related rapid transformations that the automotive industry will undergo” – said Robert Jędrzejowski, President of Pekabex.
More information is available from:
Beata Zaczek, Vice President of the Management Board / CFO: beata.zaczek@pekabex.com
The Pekabex Group is a leader in modern system construction in Poland. It provides solutions in the field of design, production and assembly of building structures based on the technology of prefabrication of reinforced concrete elements, as well as comprehensive turnkey construction of facilities and development activities.
The innovative prefabrication technology reduces the carbon footprint, ensures safety at the construction site, shortens the investment completion time and ensures independence from factors such as weather conditions, and at the same time is a response to the lack of construction workers. Production is carried out in five factories in Poland located in Poznań, two in Gdańsk, Mszczonów (near Warsaw) and Bielsko Biała, and in one plant in Germany. Currently, the total annual production capacity of Pekabex Group amount to about 270 thousand m3 for structural elements, 550,000 m2 for hollow core slabs and 500,000 m2 for filigree slabs and solid walls.
The Group has been operating on the Polish market and abroad for over 50 years, employing (employees and cooperating persons) about 2,700 people, including highly specialized engineering staff. In July 2015, it successfully debuted on the Warsaw Stock Exchange. The goal of the Pekabex Group is to become a significant player on the European market.