According to a regulatory statement, (86,9 PLN, -0,11%) has signed a contract for the construction of a stretch of Sucharskiego road in Gdansk. The deal has a total net value of PLN 137.2m. The construction work must be completed within 18 months.
We are positive about signing this latest contract in the road construction segment, although the news was first released during last Wednesday’s session and we expect a neutral impact on Budimex’s stock price today. Moreover, the Polish Press Agency announced in mid-May that the company had placed the lowest bid for the contract, while price was defined as the key requirement of the tender. As a result, the signing of the deal is unlikely to surprise the market. Our forecasts already include the value of this latest contract.