B-Act reports nearly 100% sales growth in 3rd quarter of 2024

COMPANIESB-Act reports nearly 100% sales growth in 3rd quarter of 2024

B-Act, an engineering company listed on NewConnect specializing in consulting and supervision of construction investments, generated PLN 5.63 million in the third quarter (a growth of 97.5% year on year). Accumulatively for the three quarters since the beginning of the year, the company earned PLN 13.67 million in revenue. The net profit for the first nine months of this year amounted to PLN 350,000. B-Act’s financial results are supported by a strong portfolio of contracts. In the third quarter of this year, the company focused on new projects in Ukraine, where B-Act also gained special status in the region.

Since the beginning of the year, B-Act has signed 13 contracts to implement new projects, from which it can generate gross revenue of more than PLN 51 million.

“In the third quarter, we focused on implementing our international development strategy. We decided to enter the Ukrainian market much stronger, which resulted in new contracts. Our company has been entered on the list of critically important enterprises for Ukraine’s economy. This status guarantees operational continuity for the company’s representation and availability of our team. In total, in the past quarter, we signed 7 new contracts for project implementation in Poland and Ukraine,” says Adam BiaƂachowski, B-Act SA’s CEO. “It was an active quarter that showed that acquiring new customers requires marketing activities and active participation in tenders. Naturally, in our case, the fourth quarter generates the largest project settlements, so we expect increased activity in the coming months, and as a result, an impact on the company’s net result,” BiaƂachowski adds.

B-Act carries out a number of contracts, the majority of which are projects with a longer settlement period. The company mainly works on multi-year projects. The firm regularly participates in tenders to increase its project portfolio and secure orders domestically and abroad. In the third quarter, B-Act signed 7 new contracts, most of them related to infrastructure and civil projects.

The company’s forecasted revenue in the base scenario is PLN 16 million, and the predicted net profit is PLN 1.6 million by the end of 2024.

“Our very high revenue growth dynamics in the first to third quarters of 2024 are noteworthy. We expect that, like the entire sector, we will see the most activity in the fourth quarter of this year. That’s when the sector’s revival and next year’s investment growth are visible. As for the net results at the end of the year, a lot depends on Ukraine, which is a difficult market to predict at this time,” adds BiaƂachowski.

The company carries out several contracts in Ukraine, this area, although burdened with higher risk and difficulties, provides significant opportunities to increase revenue and strengthen its position in the international market.

B-Act has introduced a dividend policy for 2023-2025. According to it, B-Act’s board should present a recommendation and proposal for the distribution of net profit earned in a given financial year to the general meeting, and the size of the dividend should depend on the profit and financial opportunities of the company. B-Act earmarked PLN 685,000 for dividend payout this year, which constituted 43% of the net profit from 2023.

“We reward the trust of our shareholders. We want to be a company that generates repeatable revenue and profits. A strong backlog of projects, as well as increasing recognition of our brand, allows for strong growth dynamics. We want to follow this path,” adds Adam BiaƂachowski.

Source: https://managerplus.pl/b-act-notuje-blisko-100-wzrost-sprzedazy-w-iii-kwartale-2024-roku-wzmacnia-sie-na-rynkach-zagranicznych-46690

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