The Group’s organisational structure, consolidated entities and changes in the Group’s organisation
The main area of the Group’s business activities concerns the broadly interpreted construction and assembly services rendered in the system of general contracting at home and abroad, developer activities, property management, and in limited scope trading, production and transport.
The main area of business activity of Budimex SA as the Parent Company is rendering construction and assembly services, development activities and rendering management and advisory services to other companies in the Budimex Group. Execution by Budimex SA of the advisory, management and financial functions serves to:
- ensure quick flow of information across the Group,
- strengthen the efficiency of cash and financial management of individual Group companies,
- strengthen the market position of the Group.
Changes in the Group’s organisation:
On 14 May 2015, Budimex SA Energetyka 1 Sp.j. was entered in the National Court Register. Budimex SA holds 50% of shares in this company, whereas the remaining 50% is held by Budimex Budownictwo Sp. z o.o.
On 14 May 2015, Budimex SA Energetyka 2 Sp.j. was entered in the National Court Register. Budimex SA holds 50% of shares in this company, whereas the remaining 50% is held by Budimex A Sp. z o.o.
On 27 May 2015, Przedsiębiorstwo Budownictwa Mieszkaniowego Nadolnik Sp. z o.o. merged with Budimex Nieruchomości Sp. z o.o.
On 8 June 2015, Budimex H Sp. z o.o. was entered in the National Court Register. Budimex PPP SA holds 100% of shares in this company.
On 8 June 2015, Budimex I Sp. z o.o. was entered in the National Court Register. Budimex PPP SA holds 100% of shares in this company.
On 31 July 2015, a resolution was adopted on the final liquidation of Budimex B Sp. z. o.o. The company was deleted from the National Court Register on 17 November 2015.
On 17 July 2015, Budimex SA Ferrovial Agroman (UK) Limited – Metro II Sp.j. was entered in the National Court Register. Budimex SA holds 50% of shares in this company.
On 21 December 2015, the conversion of Budimex G Sp. z o.o. into Budimex SA Energetyka 3 Sp.j. was entered in the National Court Register. Budimex SA holds 50% of shares in this company, whereas the remaining 50% is held by Budimex PPP SA.
Moreover, after the balance sheet date, on 25 February 2016, Budimex Inwestycje Grunwaldzka SA was entered in the National Court Register. Budimex SA holds 100% of shares in this company.
In 2015, no changes were introduced in the management policies at the Budimex Group.
Presented below is the list of subsidiaries and jointly controlled entities of the Budimex Group:
| Share in the share capital and the number of votes (%) | Consolidation method | ||||
|---|---|---|---|---|---|
| Company name | Registered office | 31.12.2015 | 31.12.2014 | 31.12.2015 | 31.12.2014 |
| Consolidated | |||||
| Mostostal Kraków SA | Kraków / Poland | 100,00% | 100,00% | full | full |
| Budimex Bau GmbH | Cologne / Germany | 100,00% | 100,00% | full | full |
| Budimex Nieruchomości Sp. z o.o. | Warsaw / Poland | 100,00% | 100,00% | full | full |
| Budimex Budownictwo Sp. z o.o. | Warsaw / Poland | 100,00% | 100,00% | full | full |
| SPV-BN 1 Sp. z o.o. | Warsaw / Poland | 100,00% | 100,00% | full | full |
| Poznańskie Przedsiębiorstwo Inwestycyjne Sp. z o.o. | Warsaw / Poland | 100,00% | 100,00% | full | full |
| Budimex Kolejnictwo SA | Warsaw / Poland | 100,00% | 100,00% | full | full |
| Budimex Parking Wrocław Sp. z o.o. | Warsaw / Poland | 100,00% | 100,00% | full | full |
| Budimex B Sp. z o.o. (in liquidation) 1 | Warsaw / Poland | - | 100,00% | - | full |
| Elektromontaż Poznań SA | Poznań / Poland | 92,31% | 92,31% | full | full |
| Elektromontaż Import Sp. z o.o. | Warsaw / Poland | 92,31% | 92,31% | full | full |
| Instal Poland Sp. z o.o. | Poznań / Poland | 92,31% | 92,31% | full | full |
| Elektromontaż Warsaw SA | Warsaw / Poland | 92,31% | 92,31% | full | full |
| Przedsiębiorstwo Budownictwa Mieszkaniowego Nadolnik Sp. z o.o. 2 | Warsaw / Poland | - | 100,00% | - | full |
| Non-consolidated | |||||
| Budimex Autostrada SA | Warsaw / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| Budimex Most Wschodni SA | Warsaw / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| Budimex Autostrada A-1 SA | Warsaw / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| Przedsiębiorstwo Napraw Infrastruktury Sp. z o.o. in liquidation bankruptcy | Warsaw / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| Budimex A Sp. z o.o. | Warsaw / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| Budimex C Sp. z o.o. | Warsaw / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| Budimex D Sp. z o.o. | Warsaw / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| Budimex F Sp. z o.o. | Warsaw / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| Budimex G Sp. z o.o. 3 | Warsaw / Poland | - | 100,00% | - | non-consolidated |
| Budimex H Sp. z o.o. 4 | Warsaw / Poland | 100,00% | - | non-consolidated | - |
| Budimex I Sp. z o.o. 5 | Warsaw / Poland | 100,00% | - | non-consolidated | - |
| Budimex PPP SA | Warsaw / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| MK Logistic Sp. z o.o. (in liquidation) | Zabrze / Poland | 100,00% | 100,00% | non-consolidated | non-consolidated |
| Dromex Oil Sp. z o.o. (in liquidation) | Warsaw / Poland | 97,93% | 97,93% | non-consolidated | non-consolidated |
| PKZ Budimex GmbH | Kolonia / Niemcy | 50,00% | 50,00% | non-consolidated | non-consolidated |
1) On 31 July 2015, a resolution was adopted on the final liquidation of the company.
2) Przedsiębiorstwo Budownictwa Mieszkaniowego Nadolnik Sp. z o.o. merged with Budimex Nieruchomości Sp. z o.o. on 27 May 2015.
3) The company was converted into Budimex SA Energetyka 3 Sp. j. on 21 December 2015.
4) The company was entered in the National Court Register on 8 June 2015.
5) The company was entered in the National Court Register on 8 June 2015.
Presented below is the list of jointly controlled entities of the Budimex Group:
| Share in the share capital and the number of votes (%) | Method of presentation in financial statements | ||||
|---|---|---|---|---|---|
| Company name | Registered office | 31.12.2015 | 31.12.2014 | 31.12.2015 | 31.12.2014 |
| Joint operations | |||||
| Budimex SA - Budimex Budownictwo Sp. z o.o. s.c. | Warsaw / Poland | 100,00% | 100,00% | full | full |
| Budimex SA Energetyka 1 Sp.j. 1 | Warsaw / Poland | 100,00% | - | ||
| Budimex SA Ferrovial Agroman SA s.c. | Warsaw / Poland | 99,98% | 99,98% | share in assets, liabilities, revenue and costs | share in assets, liabilities, revenue and costs |
| Budimex SA Sygnity SA Sp. j. | Warsaw / Poland | 67,00% | 67,00% | ||
| Budimex SA Ferrovial Agroman SA Sp. j. | Warsaw / Poland | 50,00% | 50,00% | ||
| Budimex SA – Cadagua SA s.c. | Warsaw / Poland | 50,00% | 50,00% | ||
| Budimex SA – Cadagua II SA s.c. | Warsaw / Poland | 50,00% | 50,00% | ||
| Budimex SA Tecnicas Reunidas SA Turów s.c. |
Warsaw / Poland | 50,00% | 50,00% | ||
| Budimex SA Ferrovial Agroman (UK) Limited – Metro II Sp.j. 2 | Warsaw / Poland | 50,00% | - | ||
| Budimex SA Energetyka 2 Sp.j. 3 | Warsaw / Poland | 50,00% | - | ||
| Budimex SA Energetyka 3 Sp.j. 4 | Warsaw / Poland | 50,00% | - | ||
| Joint ventures | |||||
| Tecpresa – Techniki Sprężania i Usługi Dodatkowe Sp. z o.o. |
Warsaw / Poland | 30,00% | 30,00% | equity method | equity method |
1) The company was entered in the National Court Register on 14 May 2015.
2) The company was entered in the National Court Register on 17 July 2015.
3) The company was entered in the National Court Register on 14 May 2015.
4) The conversion of the company was entered in the National Court Register on 21 December 2015.
