RESBUD SE has published the annual report for 2020, the company has completed the first stage of construction of a modern holding company

RESBUD SE has published the annual report for 2020, the company has completed the first stage of construction of a modern holding company

On May 2, 2021, RESBUD SE published the report for 2020. These 12 months were primarily a period of intensive work on the transformation of the Company into a modern and dynamically developing European holding operating in the construction, energy and civil engineering markets. The culmination of the past year was the subscription of new shares of the Company on December 31, thanks to which RESBUD SE took over in the first quarter of this year. majority shares in the companies Energokomplekt OOO, Conpol sp. z o. o. and Uniwersim sp. z o.o.

A natural consequence of the transformation implemented in 2020 is that during this period the Company recorded PLN 266. EUR losses from operating activities, with zero revenues. RESBUD SE's assets at the end of last year amounted to almost EUR 2,6 million. At the same time, starting this year, the Company will prepare consolidated financial statements with the companies acquired in recent months: Energokomplekt OOO, Conpol sp. z o. o. and Uniwersim sp. z o. The revenues generated by them in 2019 totaled almost PLN 195 million, and their total profit net amount exceeded PLN 14,5 million.

The most important event of the past year was the successful conduct of the private subscription process, under which agreements were concluded to acquire a total of 218.520.263 RESBUD SE securities worth over EUR 32 million, through contributions in kind in the form of shares in the above-mentioned companies. Thanks to this, the Company's share capital increased to over EUR 26 million (from EUR 1,991 million previously), and RESBUD SE currently has in its portfolio 100% of shares in Uniwersim sp. z o. o., 100% of shares in Conpol sp. z o. o. and 100% shares in Energokomplekt OOO (87,8% directly and 12,2% indirectly).

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

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

By supporting the further development of the holding, we want to constantly expand our experience, knowledge and innovation, which is why we plan to launch activities related to financing 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.

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

The full annual report of RESBUD SE for 2020 can be read, among others: on the Company's website: https://equnico.com/kategorie-raportow/roczne/