Doing Poland's dirty work

ABM Solid, as part of a consortium with ZIB Fajkier, has signed three contracts with the Zawiercie gmina authorities for the construction of sewer canals. The total value of the contracts amounts to E14.3 (zł.53.9) million gross, of which ABM Solid will take around E6.1 (zł.23) million. Construction is scheduled for completion on May 22, 2009.

In addition to the three contracts, the consortium is already working on sewer canals in the Zawiercie districts of Kromołów and Stawki Ręby. The project is valued at E1.3 (zł.4.9) million gross and should be finished in October of next year.

"These contracts should please bourse investors because they help to increase the scale of activity, both in geographical terms and within the sector," said Marek Pawlik, president of ABM Solid. "These are some of the biggest sewer-construction contracts in our history."

ABM Solid is also responsible for a number of other sewer-system projects around Poland. At the end of last year, for example, the firm constructed over 100 km of sewers in Nowa Sarzyna. Earlier this month it completed similar work for the Sośnicowice gmina authorities and other projects are currently under way in Kędzierzyn-Koźle and in Gliwice's Żerniki district. These will be finished at the end of this year and are worth around E3.9 (zł.14.7) million gross.

ABM Solid debuted on the bourse in July this year. In 2006 the firm saw a 45-percent rise in revenue y-o-y to zł.196.3 million, and a 190-percent annual rise in net profit to zł.5.2 million. Net profitability grew to 2.6 percent and EBITDA profitability was 6.2 percent.