Financial statement for the third quarter of 2019

During the nine months of 2019, the Mostostal Warszawa Group generated sales revenues in the amount of PLN 926 million and incurred a net loss in the amount of PLN 13 million.

During 9 months of 2019, we entered into new contracts amounting to a total value of PLN 1,507 million. Current value of Group's portfolio is PLN 2,568 million. The Group's portfolio will generate revenues during the next two years at a level similar to that of 2018. The Group’s portfolio also becoming more diversified, as it was growing thanks to contracts from the general construction sector by 33%, infrastructure by 34% and industrial and energy by 33%. Part of newly signed contracts allows the Group to receive advance payments which allows to finance their implementation during the initial phases.

The debt profile has not changed compared to last year. Only PLN 36 million out of the PLN 297 million are bank and leasing facilities were taken up. The remaining amount was obtained as loans from the parent company - Acciona Construcción based in Madrid.

As of 30.09.2019, the total equity of Mostostal Warszawa Group amounted to PLN 77 million. The employment was at the level of 1.435 employees, remaining on par to the first quarter of 2019.

Our goal for the last quarter of 2019 is to increase further the order portfolio and improve the profitability of our contracts, despite unfavourable external conditions, which are independent of the Group.

Financial statement of the Mostostal Warszawa Group for the nine months of 2019 are available on the Mostostal Warszawa S.A. website in the Periodic Reports section.

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