Despite the prevailing downturn in 2024, the largest players managed to maintain almost the same value of revenues, to which the still positive level of inflation in the construction industry contributed significantly.
The Polish construction sector is still a highly fragmented industry, with consolidation processes moving at a slow pace. The share of the market leader (Budimex Group) in the revenue of construction companies employing more than nine employees remained at 3.9 pct in 2023. The top five construction groups (Budimex, Strabag, Porr, Mirbud, and Erbud) represent 11.3 pct of revenue reported by construction companies that employ more than nine members of staff.
Civil engineering construction underpins sales of largest contractors
Spectis' analysis of the current contracts of the 30 largest contractors shows that the groups currently involved in the highest value projects are: Budimex, Polimex-Mostostal, Mirbud, Tecnicas Reunidas, Strabag, Porr, Intercor and Gulermak, mainly due to large road, rail and power orders. Among companies specialising in non-residential construction, the highest contract values are carried out by: Budimex, Adamietz, Warbud, as well as Porr, Strabag, Mirbud, Pekabex and Atlas Ward. In the residential construction area, on the other hand, the leading contractors are currently the groups: Unibep, Erbud, Budimex and Skanska.
Taking into account the revenue criterion, entry into the broad list of the 300 largest construction companies in Poland ensured that revenue for 2023 was recorded at PLN 133 mln. On the other hand, to enter the list of the 100 largest entities, revenues of more than PLN 360 mln were already required. Moreover, in order to enter the group of the 50 largest construction companies, sales of more than PLN 675 mln had to be achieved in 2023.
Revival in construction companies' order books
After a down year in 2024, the outlook for the largest construction companies for 2025-2026 looks increasingly optimistic. Events such as the unblocking of EU funds, government decisions to continue key mega-investments (e.g. Central Communication Port, High Speed Rail, offshore and nuclear projects) and the gradual awarding of major road, rail and energy tenders meant that at the end of 2024, the total value of the largest contractors' order books was already growing at a double-digit rate. In addition, interest rate cuts expected from mid-2025 should kick-start a second investment engine, namely the private sector - both multi-dwelling and non-residential construction.
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