Annual report for 2020, the company has completed the first stage of the process of building a modern holding company

Annual report for 2020, the company has completed the first stage of the process of building a modern holding company

On May 2, 2021, RESBUD SE published the annual report for 2020. It was primarily a period of intensive work on the transformation of the Company into a modern and dynamically developing European holding company, operating in the construction, energy and civil engineering market. The greatest event of the last year was the subscription of new shares of the Company, carried out on December 31, as a result of which RESBUD SE took over majority shares in Energokomplekt OOO, Conpol sp. z o.o. and Uniwersim sp. z o.o. in the first quarter of year 2021.

The obvious consequence of the transformation process carried out in 2020 is that during this period, the Company noted EUR 266 thousand loss from operating activities, with zero income. The assets of RESBUD SE at the end of last year reached the value of almost EUR 2.6 million. From this year on, the Company will prepare consolidated financial statements with the subsidiaries – Energokomplekt OOO, Conpol sp. z o.o. and Uniwersim sp. z o.o. The revenues generated by them in 2019 reached a total of almost PLN 195 million, and their total net profit exceeded PLN 14.5 million.

The most important event of the past year was the successful private subscription process, under which agreements were concluded to acquire total of 218,520,263 RESBUD SE new issued shares worth over EUR 32 million, through in-kind contributions in the form of shares in the above-mentioned companies. As a result, the share capital of the Company increased to over EUR 26 million (from EUR 1.991 million previously), and RESBUD SE currently holds 100% shares in Uniwersim sp. z o.o., 100% shares in Conpol sp. z o.o. and 100% of shares in Energokomplekt OOO (87.8% directly and 12.2% indirectly).

2020 was a turning point in the recent history of RESBUD SE. I am glad that, together with the shareholders of the Company, I could become one of the leaders of these changes. In 2021, in cooperation with the companies acquired in recent months, we intend to develop our activities related to engineering and energy construction. We have ambitious plans, which will be confirmed by the new RESBUD SE strategy published this year – says Krzysztof Długosz, President of the Management Board of the Company.

The COVID-19 pandemic, which disrupted the functioning of economies around the world last year, influencing the functioning and condition of many companies, did not significantly affect the operating activities of RESBUD SE and its related entities.

We want to constantly expand our experience, knowledge and innovation, which is why we plan to launch activities related to the financing of young companies and start-ups in the coming months. We are already conducting preliminary talks on this matter with prestigious Polish technical universities – says Joanna Dyja, Member of the Management Board of RESBUD SE, responsible for the financial and organizational activities of the Company.

The annual report of RESBUD SE, published on May 2, this year, has not yet been audited. This is a result of the termination of the contract for the audit of the annual report for 2020 by the previous auditor, for health reasons, on January 13, this year. The new auditor, selected by the Extraordinary General Meeting of Shareholders of RESBUD SE on April 23, this year, did not have enough time to audit the report. According to the information held by the Management Board of the Company, the auditor will complete his work by May 17, 2021, and the presented annual report will not change significantly after issuing opinion by the auditor.

The full RESBUD SE annual report for 2020 can be read on the Company’s website: https://equnico.com/en/annual-financial-results/