Clouds gather above the building site

Budimex, Poland’s largest construction company, generated profits of around PLN 6 mln in Q1 this year – 85 pct less than a year earlier (PLN 33 mln) and a margin of 1.3 pct. According to Dariusz Blocher, the CEO of Budimex, this does not bode well for the future: “This year will be the most difficult in the last decade in many respects: in maintaining profitability and for revenues. And also due to the fact that several large tenders for energy and road projects have been annulled by the ordering party, despite the fact that we submitted the highest-scoring bids. That’s why we are focusing on improving the profitability of the work we are already carrying out as well as on signing fair and secure contracts,” he explains. Wojciech Trojanowski, a board member at Strabag, is of a similar opinion: “2019–2020 will be a very difficult time for the construction sector in Poland. Contracts that were negotiated and signed in 2016–2018 will get und