Dekpol published the financial results for the first quarter of 2019, according to which consolidated revenues increased by 10% yoy to PLN 177.6 million. The Capital Group specializing in general contracting, property development activities and production of equipment for construction machines generated a net profit of PLN 5.9 million in this period.
The Dekpol Capital Group in the first quarter of 2019 achieved sales revenues in the amount of PLN 177.6 million, which is 10% more than in the previous year. In the first three months of this year, it generated a net profit of PLN 5.9 million, compared to PLN 9.0 million a year earlier. The value of equity increased by 3.1% to PLN 197.5 million.
“The beginning of the year was successful for all our areas of activity. In terms of General Contracting, we have achieved an increase in sales revenues by over 9% year-on-year. We focused on increasing the portfolio of profitable orders while strengthening our market position. All projects have been and are being implemented at the request of private investors”- said Mariusz Tuchlin, President of the Mangement Board of Dekpol S.A.
In terms of General Contracting segment, the Capital Group at the end of March this year executed contracts for external entities with a total contractual value of over PLN 621 million net. Projects with a total value of almost PLN 280 million net remained for implementation, of which the vast majority of works will be carried out in 2019.
The highest sales dynamics of 36% yoy was achieved by the production of equipment for construction machines. “Consistently implemented standardization of equipment and optimization of the production process allowed to eliminate all delays, as well as reduce the completion time of orders” – said Mariusz Tuchlin.
In April this year Dekpol S.A. presented his products, i.e. buckets at the largest construction fair in the world, Bauma in Munich. The Management Board is convinced that new business contacts concluded during the event will allow to increase the sales range of products as well as expand the range of large-size buckets produced.
The beginning of the year was also successful for the property development segment, which was separated into the special-purpose vehicle at the beginning of this year. Based on development and preliminary contracts in the first three months of this year 141 apartments have been sold. At the same time in the financial result for the first quarter of this year 80 units were recognized.