Budimex SA: Company Profile and SWOT Analysis by ICDResearch

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									Budimex SA

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Budimex SA                                                               Financial Snapshot

                                                                         Operating Performance
Fast Facts
                                                                         The company reported revenues of US$1,466.98
Headquarters Address              ul. Stawki 40, Warsaw, 01-040,Poland
                                                                         million during 2010, with a CAGR of 10.56% during
                                                                         2006–2010. Its revenue grew at an annual rate of
Telephone                         + 48 22 6236000
                                                                         39.12% over the previous fiscal year. In 2010, the
                                                                         company recorded an operating margin of 7.48%, as
Fax                               + 48 22 6236001                        against 6.09% in 2009.

Website                           www.budimex.com.pl
                                                                         Revenue and Margins
Ticker Symbol, Stock Exchange     BDX, Warsaw Stock Exchange

Number of Employees               4,644

Fiscal Year End                   December

Revenue (in US$ million)          1,466.98

Revenue (in PLN million)          4,430.27




SWOT Analysis                                                            Return on Equity

Strengths                         Weaknesses                             The company recorded a return on equity (ROE) of
                                                                         39.30% for 2010, as compared to its peers, Mostostal
Strengthening Solvency Position   Limited international Operations       Warszawa S.A. (Ticker: MSW), Polimex-Mostostal
                                                                         S.A. (Ticker: PXM) and Erbud S.A. (Ticker: ERB),
                                                                         which recorded ROEs of 12.07%, 7.57% and 5.06%
Strong financial performance      Limited liquidity position             respectively. The company reported an operating
                                                                         margin of 7.48% in 2010.
Opportunities                     Threats
                                                                         Return on Equity
Euro 2012 in Poland               Increasing minimum wage rate

Influx of European Union funds    Lower building permits

Strategic agreements




                                                                         Liquidity Position

                                                                         The company reported a current ratio of 1.10 in 2010,
                                                                         as compared to its peers, Mostostal Warszawa S.A.,
                                                                         Polimex-Mostostal S.A. and Erbud S.A., which
                                                                         recorded current ratios of 1.32, 1.29 and 1.59
                                                                         respectively. As of December 2010, the company
                                                                         recorded cash and short-term investments of worth
                                                                         US$621.33 million, against US$3.33 million current
                                                                         debt. The company reported a debt to equity ratio of
                                                                         0.06 in 2010 as compared to its peers, Mostostal
                                                                         Warszawa S.A., Polimex-Mostostal S.A. and Erbud
                                                                         S.A., which recorded debt to equity ratios of 0.19,
                                                                         0.65 and 0.20 respectively.




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Budimex SA - SWOT Profile                                                                                       Page 1
Budimex SA

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TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................6
2     Analysis of Key Performance Indicators ............................................................................................... 7
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................7
    2.2       Key Financial Performance Indicators .................................................................................................................10
      2.2.1       Revenue and Operating Profit .........................................................................................................................10
      2.2.2       Asset, Liabilities and Capex .............................................................................................................................11
      2.2.3       Operational Efficiency ......................................................................................................................................12
      2.2.4       Solvency ..........................................................................................................................................................13
      2.2.5       Valuation ..........................................................................................................................................................14
    2.3       Competitive Benchmarking ..................................................................................................................................15
      2.3.1       Market Capitalization .......................................................................................................................................15
      2.3.2       Efficiency ..........................................................................................................................................................16
      2.3.3       Capital Expenditure ..........................................................................................................................................17
      2.3.4       Valuation ..........................................................................................................................................................18
      2.3.5       Turnover – Inventory and Asset .......................................................................................................................19
      2.3.6       Liquidity .......................................................................................................................
								
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