Trakcja TiltraS.A. Diversified Infrastructure Construction Group. October 2011

Transcription

1 Trakcja TiltraS.A. Diversified Infrastructure Construction Group October 211

2 Diversified Infrastructure Construction Group Large market It is estimated that total expenditure on construction and installation works in the Polish railway sectors in will amount to approx. EUR 6 bn. The growth of the planned CAPEX exceeds the sector s available capacity. Total expenditure on roadworks in will amount to EUR 18 bn. Reliable payers The European Union and the Polish and Lithuanian governments are the actual payers to the Group Strong strategic partner Comsa Emte Group is the eight largest construction company in Spain, and the second largest company in the Spanish railway sector. Strategic partnership with Comsa Emte provides us with access to the latest technology and know how on renewable energy, and ensures financial stability 2

3 Structure of the Trakcja Tiltra Group TRAKCJA - TILTRA S.A. - electrification - power engineering - production of substation equipment and components 1% 1% 82,3% 4,68% 1% 96,84%,48% Przedsiębiorstwo Robót Kolejowych PRK 7 Nieruchomości TORPROJEKT Eco-Wind Tiltra Group AB AB Kauno Tiltai i Inżynieryjnych S.A. Construction S.A. - electrification - track structure and substructure - real-estate development - project documentation - development of wind farms - engineering structures - holding entity construction of roads, bridges, tunnels, railways, airports, water ports, utilities infrastructure, production of construction materials % 77% 1% Bahn Technik Wrocław 22% Silentio Investments 1% 8,8% AB Kauno Tiltai Lenkijos skyrius - rail bonding and welding UAB Kelda 1% AB Kauno Tiltai TUB konsorciumas 1% 1% Tiltra Poldim S.A. UAB Verksioniu karjeras 1% - construction of roads, bridges - maintenance of the roads AB Kauno Tiltai TUB konsorciumas - production of construction Tiltra Lenkijos skyrius materials 1% UAB Taurakelis 7% 99,% NRR Grupa POLDIM 1% UAB Kedainiu 94,93% automobiliu keliai P.E.U.I.M. - construction of roads Poldim Mielec,4% Poldim Dębica S.A. 1% Poldim Mosty 2% PD LAMBDAR 7,1% 1% UAB Pletros investicijos Brux 1% Dalba 1% PT Kruszywa 94,62% PDM Białystok S.A. 3

4 Current Projects Key projects of Trakcja Tiltra Group in railway works: Item Project Compensation for the Consortium (PLN m) Scheduled completion date The Group's role 1 2 Reconstruction and modernisation of the E 3/CE 3 railway line on the Opole Wrocław Legnica section, Środa Śląska Malczyce route, together with the Malczyce station Modernisation of the E 6 LCS Ciechanów line; LOT A Gąsocin and Ciechanów Stations; Lot B Świercze Gąsocin and Gąsocin Ciechanów routes At present, Trakcja Tiltra Group is executing eighteen key projects in railway infrastructure for a total value in excess of PLN 4,2 bn, where Group companies are hired either as general contractors or subcontractors June September Reconstruction at the east side of Pozna ń Railway Station encompassing platforms 1, 2 and 3, platform roofs and stairways 39 December Modernization of CE 3 railway line Opole Groszowice Wrocław Brochów, Opole Wschód Czarnowąsy section 39 October 211 Modernisation of railway line no. 223 Czerwonka Ełk, on the Orzysz Ełk section at km November Modernisation of railway line No. 38 on section Zbąszynek Czerwieńsk with construction of railway siding Pomorsko Przylep bypassing Czerwieńsk station Stage I 8 October Modernisation of the E6/C E6 railway line, Warsaw Gdynia section area of LCS Działdowo 741 February Construction of an integrated node in the area of the stadium for Euro 212 Euro 212 Stadium node the task.2 of the project: Integrated System of Rail Transport in the Aglomeration and in Wrocław 4 July Modernization of railway system and elements of railway infrastructure in the area of station Wroclaw Glowny 43 April Design and execution of construction works on the railway line Kraków Medyka state border, section Podłęże Bochnia from km 16, to 39, Tramline construction Chełm Nowa Łódzka within Gdańsk City Transportation Project faze III A and construction of Nowa Łódzka Street in Gdansk 89 January Mayl Modernization of the E 3 railway line, section:jaworzno Szczakowa Trzebinia 3 March Design and execution of construction works on Line Kraków Medyka RP border on the section: Sędziszów Małopolski Rzeszów Zachodni Design and execution of construction works on Line Kraków Medyka RP border on the section: Dębica Sędziszów Małopolski km 111, 133,6 298 September September Modernisation of line no. E9 Wrocław Lower Silesian Voivodeship Border 26 June Modernization of the railway line nr 9, section from km 236,92 to 287,7, during the Local Area Control Center, based in Malbork Design and construction of Łódź Widzew station and part of a railway track Łódź Fabryczna Łódź Widzew from km 2,2 to km 7,2 within railway traffic control and telecommunication facilities for all section Łódź Fabryczna Łódź Widzew and modernization of detour line Łódź Widzew Łódź Chojny Łódź Kaliska 814 November December Railway from Radviliskis to Pagegiai modernization Total compensation for the Consortium (Kauno Tiltai LT)

5 Current Projects Key projects of Trakcja Tiltra Group in civil works: Item Project Compensation for the Consortium (PLN m) Scheduled completion date The Group's role 1 Jakai crossing construction phase II on Vilnius Kaunas highway Reconstruction of Gen. Maczka Street Highway A1 on the segment from "Strykow" node Bridge contract on A 4 highway Szarow Brzesko Bridge contracts on highway A A 1 highway Sośnica Maciejów Vilnius Western bypass (Kauno Tiltai LT) (PEUIM Group) (Poldim group) Subcontra ctor (Poldim group) Subcontra ctor (Poldim group) Subcontra ctor (Poldim group) (Kauno Tiltai LT) Total compensation for the Consortium 71

6 Quarterly update: H1 211 vs H1 21 (PLN ') CONSOLIDATED INCOME STATEMENT H1 211 H1 21 value variance % variance Sales % Gross margin % as % of sales 7,% 21,7% - -14,7 pp Cost of sales and overheads % Other operating activity % EBIT % as % of sales 3,9% 13,4% - -9, pp EBITDA % Financial activity Share of profit of assiociates Acquisition costs Gross profit % Profit from discontinuing operations Net profit % Sales revenue (mpln) % 1 H1 21 H EBITDA (mpln) 39 3% 2 H1 21 H Net profit (mpln) 16 16% 14 H1 21 H

7 Quarterly update: Q2 211 vs Q2 21 (PLN ') CONSOLIDATED INCOME STATEMENT Q2 211 Q2 21 value variance % variance Sales % Gross margin % as % of sales 7,1% 22,8% - -1,7 pp Cost of sales and overheads % Other operating activity EBIT % as % of sales 4,6% 1,7% - -11,1 pp EBITDA % Financial activity Share of profit of assiociates Acquisition costs Gross profit % Profit from discontinuing operations Net profit % Sales revenue (mpln) EBITDA (mpln) % 489% Q2 21 Q2 211 Q2 21 Q Net profit (mpln) 13 11% 14 Q2 21 Q

8 Quarterly update: Q2 211 vs Q1 211 (PLN ') CONSOLIDATED INCOME STATEMENT Q2 211 Q1 211 value variance % variance Sales % Gross margin % as % of sales 7,1%,% - 1,6 pp Cost of sales and overheads % Other operating activity % EBIT as % of sales 4,6% -1,2% -,8 pp EBITDA % Financial activity Share of profit of assiociates Acquisition costs % Gross profit Profit from discontinuing operations Net profit Sales revenue (mpln) 9 66% 78 Q1 211 Q EBITDA (mpln) % 2 Q1 211 Q Net profit (mpln) 14 Q1 211 Q

9 Order backlog Order backlog (mpln) Order backlog + best offers (mpln) * PLN LTL EUR For 211 For * Trakcja Tiltra S.A. & PRKiI Group ,9%,%,% Tiltra Group & Kauno Tiltai** 916,% 44,%,% Trakcja Tiltra Group ,% 9,%,% (*) including contracts signed after June 3, 211 (**) assumed PLN/LTL exchange rate of,9 Best offers and contracts awarded, not signed (Tiltra Group & Kauno Tiltai) Region mpln 1 Trans-European road network E8. Construction of Southern road bypass of Vilnius. Contract No. 2 Kauno Tiltai LT 19 2 Trans-European road network E8. Construction of Southern road bypass of Vilnius. Contract No. 3 Kauno Tiltai LT 21 Total 4 (*) contracts awarded 9

10 New contracts Contracts signed in 211: Region mpln 1 Development of design documentation and implementation based on that construction project: Modernization part of technical infrastructure of railway line nr 7 Warszawa Wschodnia Dorohusk within Lublin Północny passenger stop and Świdnik station for better communication within agglomeration TT 13 2 Crossing in Rogów PRKII 13 3 Basic construction works on railway line section Wroclaw - Grabiszyn - Skokowa and Zmigrod - dolnoslaskie voivodship border in framework of project POIiŚ "Modernization of the ailway line E9 on section Wroclaw - Poznan, Stage II - section Wroclaw - dolnoslaskie voivodship border PRKII 26 ** 4 Laying the foundations and other works for the Integrated Communication Center in Poznań PRKII 13 Modernization of the railway line nr 9, section from km 236,92 to 287,7, during the Local Area Control Center, based in Malbork TT 814 ** 6 Design and construction of Łódź Widzew station and part of a railway track Łódź Fabryczna Łódź Widzew from km 2,2 to km 7,2 within railway traffic control and telecommunication facilities for all section Łódź Fabryczna Łódź Widzew and modernization of detour line Łódź Widzew Łódź Chojny Łódź Kaliska TT Other TT & PRKiI 46 8 Vilnius Western bypass II phase Kauno Tiltai LT Reconstruction of the following roads of national importance: No. 144 Jonava)- Kėdainiai Šeduva section from,2 to 2,4 km. (Kėdainių r.) No. 14 Kėdainiai Šėta Ukmergė section from,1 to 1, km (Kėdainių r.), No. 129 Antakalnis Jieznas Alytus Merkinė section from 26,4 to 26,7 km (Prienų r.), No. 182 Marijampolė - Liudvinavas - Krosna section from 7.98 to km and repair of the bridge over the Šešupė river kilometer 1.21 of that road (Marijampolės sav.) Kauno Tiltai LT 3 1 Reconstruction of A. Juozapavičiaus prospect Kauno Tiltai LT Gravel Roads asphalt program funds. I contract Kauno Tiltai LT ZDW Lublin, DW 849 Zamość-Jacnia-Wola Obszańska Poldim group Dragados, bituminous surface, A4 Wierzchosławice - Krzyż Poldim group 2 14 Other Tiltra Group & Kauno Tiltai 63 Total (*) excluding conditional amount 1

11 Pending tenders Announced and started tenders Offer value mpln* Currency Contract type Tendering date Notes 1 Continued construction of the A4 motorway on the section of Brzesko - Wierzchoslawice 13 PLN build 2H 211 Poldim group - preliminary phase 2 Continued construction of national road No. 9 Radom - Barwinek 32 PLN build 26th August 211 Poldim - No. 3 3 Design and execution of works for the project Reconstruction of DK-1 in Częstochowa 1 PLN design and build 31st August 211 Poldim - No Construction of S17 Expressway, Kurów - Lublin - Piaski section; Task No. 4: Lubartów Node - Witosa Node section, with the inclusion of the road Lublin - Sands 68 PLN build 2nd September 211 Poldim - No. 9 Trans-European road network E8. Construction of Southern road bypass of Vilnius. Contract No LTL build 2nd September Trans-European road network E8. Construction of Southern road bypass of Vilnius. Contract No LTL build 2nd September 211 Kauno Tiltai LT (Partner) - No. 1 Kauno Tiltai LT (Partner) - No. 1 7 Construction on road tunnel in city of Ząbki 2 PLN build 28th September 211 TT - No Construction of new two-level crossings with other related infrastructure on the area of LCS Działdowo, including under track crossing on km 147,39; under track crossing on km 147,9; road viaduct on km 147,999 within a task POIiŚ "Modernisation railway line E-6/CE-6, railway line section Warszaw- Gdynia-area of LCE Działdowo" - Tender 2D Construction of trolley overhead contact system, power system together with traction substations: "Wrotków", "Bystrzyca" and modernization of street lighting in: Diamentowa Str. (section Krochmalna - Zemborzycka), Zemborzycka Str. (section Diamentowa - Kunickiego) with Zemborzycka and Diamentowa street crossroad modernization in city of Lublin 32 PLN build 26th September 211 PRKiI - No. 9 1 PLN build 21st October 211 TT - No. 2 Total 1 22 (*) assumed PLN/EUR exchange rate of 3,99646 and PLN/LTL of,

12 Planned projects Announced tenders Currency Contract type Expected tendering date Region Railway projects Construction of new two-level crossings on the area of LCS Ciechanów: road viaduct on the 128,12; road viaduct on the km 13,476, tender 2Ga - executing within the task "Modernization of railway line E 6/C-E 6, Warsaw - Gdynia railway section - in the area of LCS Ciechanów" Design and construction of the bridge on the Nysa Łużycka river within the task POIiŚ "Modernisation of the railway line E3, phase 2, Bielawa Dolna - Horka: construction of the bridge on the Nysa Łużycka river and electrification" Design and execution of works of task: Modernizationof railway line E7 Rail Baltica Warsaw Białystok border with Lituania, faze I, section Warsaw Rembertów Zielonka Tłuszcz (Sadowne) Reconstruction of track systems together with accompanying infrastructure on the railway line E 9 segment Czempiń - Poznań setion, within the works of project POIiŚ "Modernization of the E9 railway line at the Wrocław - Poznań section, phase III, Czempiń - Poznań section". PLN build 3th November 211 PRKiI PLN design and build 27th October 211 PRKiI PLN build 31st October 211 TT PLN build 17th November 211 PRKiI Road projects Construction of Expressway S8 at sec. Walichnowy node - the node Wroclaw (A1), section 8 (a node Roza- Wrocław) PLN build 2H 211 Poldim group 6 Construction of Expressway S7 Elbląg-Olsztynek on section Ostroda Poludnie-Olsztynek PLN build 2H 211 Poldim group 7 Construction of national road No. 42 at section of Wąchock bypass PLN build 2H 211 Poldim group 8 Highway A4 construction near Tarnow II PLN build 2H 211 Poldim group 9 Expansion of road No. 637 between Warsaw-Węgrów PLN build 2H 211 Poldim group 1 Construction of Expressway S7 Elbląg-Olsztynek on sec. Miłomłyn-Ostróda Północ PLN build 2H 211 Poldim group 11 Construction of Expressway S17, sec. Kurów-Lublin-Piaski. Task no 3: Sec. Node "Dąbrowica"-node "Lubartów" and the section of the national road no 19 GP class PLN build 2H 211 Poldim group Construction of Expressway S17, odc. Kurów-Lublin-Piaski. Task no 4:sec node "Lubartów"-node "Witosa" with the inclusion to the road Lublin-Piaski Construction of the Western Bypass in city of Poznan on the national road No. S11 on the section Złotkowo - A2highway and on the national road no S in the region of node "Głuchowo" of highway A2 PHASE IIB - from the node "Rokietnica" km 7+74, till the node of "Swadzim"- km 13+68, lenght of.,3 km. PLN build 2H 211 Poldim group PLN build 2H 211 Poldim group 14 Expansion of road Kielce - Łopuszno PLN build 2H 211 Poldim group 1 Bypass of Konskie - phase I PLN build 2H 211 Poldim group 16 Bypass of Konskie - phase II PLN build 2H 211 Poldim group 17 Nowa Wieś Ełcka Biała Piska PLN build 2H 211 PEUIM Other projects 18 Communication system for the construction place for the New Museum of Slask PLN build 2H 211 Poldim group 19 Reconstruction of trolley overhead contact system section: Wzgórze Św. Maksymiliana in Gdynia - Reja trolley loop in Sopot in streets: Zwycięstwa Avenue - Niepodległości Avenue in Sopot and Design and execution (delivery, assembly and start) of remote control system of trolley overhead PLN design and build 24th October 211 TT 12

13 Planned projects Tenders planned to be announced in 2H 211 & 1H 212 Currency Contract type Expected announcement date Region Railway projects 1 Reconstruction of section of railway line No 132 Bytom - Wrocław Główny, Brzeg - Oława section, tracks No 1 and 2 from km 141,7 to km 149, PLN build 2H 211 PRKiI 2 Railway bypass of Vilnius LTL build 2H 211 Kauno Tiltai LT 3 Rail Baltica - I stage LTL build 1H 212 Kauno Tiltai LT Road projects 4 National road asphalt works LTL build 2H 211 Kauno Tiltai LT Palanga bypass LTL design and build 2H 211 Kauno Tiltai LT 6 Ryga - Kaliningrad Road LTL build 2H 211 Kauno Tiltai LT 7 11 kv electro line, Western bypass of Vilnius LTL build 2H 211 Kauno Tiltai LT 8 Vilnius-Kaunas-Klaipeda Motorway LTL build 1H 212 Kauno Tiltai LT 9 Bypass of Kaunas, A1 motorway LTL build 1H 212 Kauno Tiltai LT 1 Reconstruction of Andersa Street PLN build 2H 211 PEUIM 11 Reconstruction of Kleeberga Street PLN build 2H 211 PEUIM Other projects 12 Reconstruction of Panemune bridge on the Nemunas river LTL build 2H 211 Kauno Tiltai LT