Wyniki finansowe Grupy RESBUD za I kwartał 2024 roku: wyższy zysk z działalności operacyjnej i poprawa zysku netto Grupy pomimo niższych przychodów

03.06.2024 Financial results of the RESBUD Group for the first quarter of 2024: higher operating profit and improvement of the Group's net profit despite lower revenues

RESBUD SE published the consolidated financial statements of the Group for the first quarter of 2024. In this reporting period, the RESBUD Group reported consolidated sales and other operating revenues of PLN 20.6 million, operating profit of PLN 2.6 million and net profit of PLN 1.6 million. The revenues of the RESBUD group in the reporting period came mainly from the sale of equipment and construction materials, as well as the construction and installation of power networks. Q1 this year RESBUD SE's subsidiaries acquired new contractors, and the commencement date of work on the implementation of the contract for the reconstruction and modernization of a guesthouse in Interlaken in Switzerland was also postponed.

Selected financial results of the Group in the first quarter of 2024:

• sales and other operating revenues of the RESBUD Group amounted to PLN 20.6 million and were lower compared to the same period last year;
• The Group recorded an operating profit of PLN 2.6 million, compared to a PLN 0.4 million loss in the corresponding period of 2023;
• The RESBUD Group closes the first quarter of 2024 with a net profit of PLN 1.6 million, compared to a PLN 1.2 million loss in the corresponding period of 2023.

- Q1 this year we see a significant improvement in the Group's financial results compared to the previous year. We are pleased with the increase in operating profit and net profit. This indicates that the restructuring of our Group is bringing positive results. The transaction of purchasing shares of the Uzbek company Elektrqishloqqurilish JSC, concluded in the third quarter of 2023, allowed us to diversify our portfolio, including: in terms of reducing the sensitivity of our Group to seasonal factors - said Krzysztof Długosz, President of the Management Board of RESBUD SE.

Polish companies from the RESBUD Group, due to the nature of their business, are subject to seasonality due to weather conditions. Their results are particularly negatively affected by the winter season. The first quarter of the year usually brings lower revenues in the broadly understood construction sector, including producers of concrete and mixtures

Uniwersim Sp. z o. o. in the first quarter of this year. started the production of bituminous masses already in March, thanks to which by the end of March this year its sales were 3,600% higher compared to the same period in 2023.

In the first quarter of this year , Elektrqishloqqurilish JSC resumed the production of components for the telecommunications sector . Moreover, during the reporting period, the Leads company worked on a large government project implemented in Uzbekistan. The company is responsible for creating external power supply for the tourist and recreational zone "Zomin" and the international year-round resort "Plateau Suffa.2400" in Uzbekistan. Under the contract, it will perform works related to the construction of part of the 110 kV transmission line and all general construction works at the 110 kV "Suffa" power station.

- In the first quarter of 2024, our Uzbek company Elektrqishloqqurilish JSC concluded contracts which, in the opinion of the RESBUD Group, will affect its results for at least the next quarter and will provide the opportunity to achieve a several dozen percent increase in the company's revenues and profits. We are also pleased with the noticeable increase in sales at Uniwersim in the first quarter of 2024, compared to the same period a year earlier, says Krzysztof Długosz, President of the Management Board of RESBUD SE.

In the reporting period , RESBUD SE also took an active part in the Masovian-Uzbek Economic Forum, during which it signed an agreement on tightening trade cooperation between the parties , presented conditions and investment prospects for Polish business in Uzbekistan, and discussed practical aspects economic cooperation, as well as the concept of establishing a pro-export regional economic mission . The expert debate was attended by, among others: President of the Management Board of RESBUD SE - Krzysztof Długosz.