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The beginning of the second half of the year is exceptionally
favourable for ELEKTROBUDOWA SA, which only in two months
received orders worth over PLN 100 million and its share price
peaked at PLN 94 on 11th August. Metro –continued cooperation with Mostostal Warszawa SA With Mostostal Warszawa alone Elektrobudowa signed contracts worth over PLN 57.0m. ELEKTROBUDOWA will earn PLN 46.0 million excluding VAT on the construction of another underground station. The contract comprises electrical and power installations in newly built stations “Stare Bielany” and “Wawrzyszew” and tunnels between them. Total value of orders related to the Warsaw underground, received from Mostostal Warszawa, exceeds PLN 70.6 million. But that is not all; an order worth PLN 11.4m net for comprehensive electrical installation in a new building “Bonifraterska Multi-Purpose Centre” in Warsaw may rise to PLN 13.1m + VAT in the case of the increase in scope. First in 10 years newly built hot strip mill in Europe The investment executed by Austrian Voest Alpine Industrieanlagenbau is worth €270 million. It is related to the erection of the hot strip mill in Mittal Steel Poland, Nowa Huta (former Huta T. Sendzimira). The scope of order won by ELEKTROBUDOWA includes engineering and erection of electric and automation installations, and the contract price will amount to nearly PLN 17m + VAT. General Contracting As a general contractor ELEKTROBUDOWA has won a turnkey contract for the supply of technical and communication infrastructure of the store building and other structures of a Tesco facility. The contract, concluded with ST Bau Polska Sp. z o.o. based in Wrocław, is valued at PLN 10.3 million excluding VAT and will be completed within November. For a Coking Plant A PLN 8.0 million contract was signed with Polimex – Mostostal SA for electrical installations in a new coke oven battery of the “Przyjaźń” Coking Plant, Dąbrowa Górnicza. Value of the contract, to be completed within 12 November 2006, represents 2% of Elektrobudowa’s revenues forecasted for this year, and total value of orders received from Polimex – Mostostal S.A. in 2005 – 2006 exceeds PLN 16.0 million. Power for Television ELEKTROBUDOWA has signed a contract with Telewizja Polska SA based in Warsaw for the supply of electrical substation for new TVP SA buildings. Works which cover the construction of 15kV substation in the E-bis building and adjacent E building are valued at PLN 7.5 million net. Power installation works take 65-70% of the contract value. Elektrobudowa will install the switchgears manufactured in its facility in Konin. Completion of works is planned for 31 January 2008. This year’s revenues of the Elektrobudowa Group will reach nearly PLN 383.0 million and the Group will clear at least PLN 11.0 million. The Management Board does not rule of the possibility of increasing the forecast, once the contracts to be executed in 2006 have been budgeted. |
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