FBSerwis says waste management fees flat

FBSerwis from the Budimex Group expects to maintain the dynamics of revenue growth throughout 2021 and counts on the quick finalization of the first acquisition – at the beginning of 2022, said President Artur Pielech.

“Our growth dynamics will certainly be maintained this year, after three quarters we grew by 30% y/y and we will try to maintain this dynamics also in the fourth quarter. What is even more pleasing, the dynamics of profitability is following it, it is even higher: EBITDA and EBIT increased by 40% and 54% respectively, we are able to increase these profitability ratios even, ”Pielech said during the press conference.

FBSerwis had PLN 561 million in revenues, PLN 77 million in EBIT and PLN 114 million in EBITDA in Q1-Q3 2021.

However, the president said that the increases in waste management fees, which helped the company grow, have stopped.

“Prices are stabilizing, so we will have to grow differently, that is by increasing the scale of operations. In short-term activities aimed at increasing our scale of operations, we focus on M&A. We think that sometime at the beginning of the year we will be able to communicate one successful transaction. And we are working on at least two others, also in the field of waste management and preparation of raw materials, but the closure of these transactions, if they are closed at all, will be the end of next year” said Pielech.

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