Aedes signed a contract worth 950.000 PLN net for the development of a part of the investment project at Zygmunta Starego street in Kraków. Aedes is going to execute the demolition of the existing buildings on the plot and to construct the raw state of the new office-storage building. The company is to execute the contract within 4 months counting from the day of entering the construction site.
This is a valuable commission for the company, as it offers us a chance to enrich our experience. Moreover, we are entering the sector of the construction industry which is developing at the fastest rate. The value of the commission is lower than in the case of residential projects, but signing the contract is a part of our development strategy. - said Maciej Targosz, president of the management board at Aedes JSC.
The company has presented its financial results from Q1 2013. They are much lower than in the same quarter of the previous year. Sales revenue amounted to 8.66 million PLN (14.7% less than in 2012), and net revenue – over 354.000 PLN, which is 25.5% less than in the previous year.
Weather conditions in Q1 2013, especially heavy snowfalls, caused partial suspension and decrease in the rate of the execution of nearly all our investment projects. However, the slowdown caused by unfavourable weather conditions should not have a significant influence on the total settlement value of our projects. Low results are also the result of the seasonal nature of construction works. At the same time, I'd like to point out that the Return on Sales index of Q1 2012 ans 2013 is comparable: 0.05 for the former and 0.04 for the latter. - commented Maciej Targosz.