Construction Industry: approx. 70%
Real Estate Development: approx. 20%
Services and Others: approx. 10%

TOP 3 Markets:

1. Poland: approx. 85%
2. Germany: approx. 10%
3. Czech Republic: approx. 5%

Budimex SA generates the majority of its revenues from the construction industry, with the domestic market in Poland accounting for the largest share. The expansion into neighboring markets such as Germany and the Czech Republic also contributes to revenues, but to a lesser extent compared to the Polish market. This distribution reflects the company's strategic focus on expanding its presence in Central Europe.

Production Sites: Poland (Main Site)

Budimex SA is one of the leading construction companies in Poland and carries out its main production and construction activities within the country. The company focuses on the Polish market, where it undertakes a variety of construction projects, including infrastructure and building projects. There is no evidence that Budimex operates significant production facilities outside of Poland.

Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024)

Budimex SA pursues a growth strategy that strongly focuses on diversifying its services and expanding into new markets. In recent years, the company has increased its investments in the infrastructure sector, particularly in road and highway construction, to benefit from the growing demand for infrastructure projects in Poland and other European countries.

Another key focus is on sustainability and implementing environmentally friendly construction practices. Budimex has initiated efforts to reduce CO2 emissions and improve the energy efficiency of its projects, which not only reduces the ecological footprint but also lowers operating costs.

Additionally, Budimex plans to expand its presence abroad, especially in Eastern European markets where there is still significant growth potential. Through strategic partnerships and joint ventures, the company aims to strengthen its market position and explore new business opportunities.

Main raw materials: Steel, cement, bitumen

Import countries: Germany, Italy, China

Budimex SA, a leading construction company in Poland, mainly imports raw materials such as steel, cement, and bitumen, which are essential for construction projects. These materials are predominantly sourced from Germany and Italy, as these countries are known for their high-quality construction materials. In addition, Budimex also imports from China, which often offers more cost-effective alternatives.

This import strategy enables Budimex to find a balance between quality and costs to remain competitive. The choice of import countries reflects both the geographical proximity and the economic relationships that Poland maintains with these countries.

Market share in Poland: approximately 10% (2024) EBITDA margin: 8.5% (2024) Order backlog: 14 billion PLN (2024)

Budimex SA is one of the leading construction companies in Poland and has gained a significant competitive advantage through its strong market position. With a market share of around 10% in the Polish construction sector, the company is well positioned to benefit from the ongoing demand for infrastructure projects.

The EBITDA margin of 8.5% shows that Budimex operates efficiently and is able to generate solid profits, which is often a challenge in the construction industry. The high order backlog of 14 billion PLN also secures future revenues and provides planning certainty.

Budimex benefits from its long-standing experience, a broad network of subcontractors, and a strong brand that enhances the trust of customers and investors. All of this contributes to a sustainable competitive advantage that enables the company to operate successfully even in a highly competitive market environment.

Institutional Investor Share: approximately 50% (estimated, based on historical data)

Insider Purchases/Sales: No significant transactions in the last year (2024)

The institutional investor share in Budimex SA traditionally stands at around 50%, indicating the trust of institutional investors in the company's stability and growth potential. These investors include large funds and pension funds that have a long-term perspective.

In 2024, there were no significant insider purchases or sales, suggesting that the management and other insiders do not currently anticipate any significant changes in their assessment of the company's value. This could be seen as a sign of stable corporate governance and a positive outlook on future business development.

Market share of Budimex SA: Estimated at around 5-7% (2025)

Main competitors and their market shares:

1. Skanska AB: 10-12%
2. Strabag SE: 8-10%
3. Hochtief AG: 7-9%
4. Vinci SA: 6-8%
5. Ferrovial SA: 5-7%
6. Budimex SA: 5-7%
7. Porr AG: 4-6%
8. Bouygues SA: 3-5%
9. Balfour Beatty: 2-4%
10. Eiffage SA: 2-4%

Moat of Budimex SA:

Budimex SA has a moderate moat, mainly due to its strong presence in the Polish market and its long-standing relationships with local clients. Budimex's advantage lies in its deep market knowledge and the ability to efficiently execute projects domestically.

Compared to its larger international competitors like Skanska or Strabag, which have more extensive international networks and resources, Budimex's moat is less pronounced. These companies often have better access to capital and can undertake larger and more complex projects worldwide, giving them a competitive edge.

Budimex could strengthen its moat by further expanding its expertise in specific niche markets or by increasing its international presence through strategic partnerships and alliances.

Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024) Order Backlog: 12 billion PLN (End of 2024)

Budimex SA achieved a revenue growth of 8.5% in 2024, indicating strong demand in the construction and infrastructure segment. The profit growth of 10.2% shows that the company is able to improve its profitability despite rising costs.

The order backlog of 12 billion PLN at the end of 2024 suggests a solid project pipeline that should support future revenues and profits. This indicates stable business development in the coming years.

Additionally, in recent years, Budimex SA has invested in sustainable construction projects and innovative technologies, keeping the company competitive in a changing industry. These strategic initiatives could lead to an improved market position and further growth opportunities in the long term.

Overall, Budimex SA's financial and strategic position suggests that the stock could be an attractive investment opportunity, especially for investors interested in long-term growth.

Dividend yield: 6.5% (2024)
Dividend history: Regular payouts for over 10 years

Budimex SA is known for its reliable dividend policy. The company has been consistently paying dividends in recent years, indicating a stable financial position and a solid business model. The dividend yield of 6.5% in 2024 shows that Budimex offers its shareholders an attractive return.

The long-term dividend history of over a decade of regular payouts speaks to the reliability and commitment of the company to deliver consistent value to its shareholders. Analysts expect Budimex to maintain its dividend policy in the coming years, barring any significant economic changes.