Energopol ends H1 2010 in the black

2010-08-16

The company Energopol-Poludnie posted improved financial results in the first half of the year and will soon add further contracts to its order book, according to Puls Biznesu.
In the first six months of 2010 the company achieved a net profit of almost PLN 2.1m (€538,461), whereas in the corresponding period of the previous year it sustained a net loss of PLN 991,000 (€254,102). Simultaneously, its revenues shrank by 15% during the same period to stand at PLN 40.3m (€10.3m). Energopol's senior management puts the company's slimmer sales down to the prolonged winter period and the breaks and interruptions this entailed on the market and the subsequent lack of orders to lease equipment. The severe weather also led to the postponement of several contracts.
At the present time, Energopol is working on, among other things, four contracts in Bytom for Bytomskie Przedsiebiorstwo Komunalne. In H1 this year they accounted for over 43% of Energopol's revenues. Recently the firm also signed a contract with Sosnicowice municipality to build a waste treatment facility and sewage infrastructure. The contract is worth PLN 14.6m (€3.7m). Energopol likewise submitted the most attractive bids in five other tenders valued together at over PLN 57m (€14.6m). The first contracts will be signed in the coming weeks. At the present time, the company has orders in hand totalling in value approximately PLN 140m (€35.8m). Around 30% of these are road engineering contracts. The company is also involved in talks over the possible acquisition of companies active in this segment of the construction branch.

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