Professional Polish Investment Research - Expert Analysis for Foreign Investors

B-Act S.A.

BAC.WA Industrials
engineering-consulting contract-engineer project-management infrastructure public-sector energy defence
48.2M LTM Revenue (PLN)
+12.4% Revenue Growth (YoY)

Company Overview

B-Act S.A. is a Polish engineering and consulting company with over 30 years of experience in managing, supervising, and advising on complex investment projects. The company provides contract engineering, investor supervision, project and risk management, feasibility studies, and expert advisory services. B-Act operates primarily in Poland while expanding its activities in Ukraine, delivering services for infrastructure, energy, transport, healthcare, and defence-related projects.

Business Segments

  • Contract Engineer (Inżynier Kontraktu)
  • Investment supervision and investor representation
  • Project and risk management
  • Technical, legal, and economic advisory
  • Feasibility studies and business plans
  • Engineering services for infrastructure and public-sector projects

Key Drivers

  • Large-scale public infrastructure spending in Poland including new central transport hub (CPK)
  • EU and national funding programs (KPO)
  • Potential beneficiary from Ukraine war end. Reconstruction and infrastructure projects in Ukraine
  • Growing demand for professional contract management and supervision
  • Expansion into energy, transport, and defence-related investments

Key Risks

  • Dependence on public-sector investment cycles
  • Geopolitical and operational risks related to Ukraine exposure
  • Project timing and revenue recognition volatility
  • High share of subcontracted services impacting margins
  • Potential delays in EU-funded investment programs

What to Watch

  • New contract wins in Poland and Ukraine
  • Revenue sustainability after strong H1 2025 performance
  • Margin development amid high subcontracting costs
  • Further expansion into international markets

Foundational Analysis

Foundational Analysis v1.0 Last updated: 2025-08-07

Business Model

B-Act operates a project-based engineering and consulting model, generating revenues from long-term service contracts related to investment supervision, project management, and advisory. Revenues are recognized based on project progress, with a significant portion derived from public-sector and infrastructure investments.

Competitive Positioning

An established and recognizable engineering consultant in Poland with a long operating history and strong references in large infrastructure projects. Competitive advantages include experienced management, diversified project portfolio, and growing international presence, particularly in Ukraine.

Economics & Capital Allocation

The business shows strong operating leverage during periods of high project activity. H1 2025 results benefited from accelerated revenue recognition on Ukrainian projects, resulting in elevated profitability compared to historical averages.

Capital allocation is conservative, focused on maintaining liquidity, funding working capital for new projects, and distributing dividends. The company paid a dividend of PLN 0.08 per share in 2025.

Long-term Risks

Cyclicality of public investment, normalization of margins after exceptional periods, and potential disruptions in cross-border projects related to geopolitical developments.

What Would Break the Thesis

  • Sustained decline in public infrastructure spending
  • High competitive pressure, with price as the key criterion, increasing the risk of losing tenders.
  • Escalation of geopolitical risks limiting Ukrainian operations
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Contracts Intelligence

Currency Note: All amounts in PLN. Foreign currency contracts converted at announcement date rates.

Contract 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4 2027 Q1 2027 Q2 2027 Q3 2027 Q4 2028 Q1 2028 Q2 2028 Q3 2028 Q4 2029 Q1 2029 Q2 2029 Q3 2029 Q4 2030 Q1 2030 Q2 2030 Q3 2030 Q4 2031 Q1 2031 Q2 2031 Q3 2031 Q4 2032 Q1 2032 Q2 2032 Q3 2032 Q4 2033 Q1 2033 Q2 2033 Q3 2033 Q4 2034 Q1 2034 Q2 Total
Total Revenue per Quarter 4,171,638.59 4,237,942.16 3,652,022.99 2,529,617.99 1,873,706.62 1,873,706.62 1,546,002.89 1,437,710.19 1,437,710.19 1,197,736.71 1,197,736.71 1,197,736.73 663,258.14 663,258.14 663,258.14 663,258.21 464,022.83 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 31,669,113.86
Scientific and Technical Supervision with Investor Control for S7 Expressway (Kiełpin - Trasa Armii Krajowej)
View Source 2025-09-05 - 2029-09-04
348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.06 348,297.04 - - - - - - - - - - - - - - - - - - - 5,921,050.00
Reconstruction and expansion of the former Signal Box into a Concert Hall with administrative and technical facilities for the Polish Baltic Philharmonic (Project advisory and supervision)
View Source 2025-08-25 - 2034-05-25
115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 115,725.79 4,166,128.44
Contract Engineer services for removal of HV line collisions at Central Communication Port
View Source 2025-07-23 - 2027-08-23
239,973.48 239,973.48 239,973.48 239,973.48 239,973.48 239,973.48 239,973.48 239,973.48 239,973.48 - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,159,761.32
Management and supervision of the construction of the rapid tram line from Kasprzaka Street to Wilanów (design and execution)
View Source 2025-07-01 - 2025-12-31
519,615.60 519,615.60 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,039,231.20
Construction of Organ Diagnostic Center - Contract Engineer Services
View Source 2025-05-21 - 2027-02-21
108,292.68 108,292.68 108,292.68 108,292.68 108,292.68 108,292.68 108,292.70 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 758,048.78
Engineering advisory services for design and major road refurbishment at the Polish-Ukrainian border (Development of border and road infrastructure on the Polish-Ukrainian border)
View Source 2025-05-08 - 2026-05-07
213,887.53 213,887.53 213,887.53 213,887.53 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 855,550.12
Engineering and consulting services for design and construction of water intake and pipeline (Sections I-II-III)
View Source 2025-04-24 - 2026-04-24
442,023.84 508,327.41 442,023.84 442,023.84 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,834,398.93
Contract Engineer services for design and construction works under FEnIKS 2021-2027, FEdKP 2021-2027 and KPO
View Source 2025-04-23 - 2029-06-30
199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.29 199,235.36 - - - - - - - - - - - - - - - - - - - - 3,187,764.71
Agreement for performing the role of Contract Engineer (consortium)
View Source 2025-04-02 - 2026-04-01
1,122,405.00 1,122,405.00 1,122,405.00 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3,367,215.00
Contract Engineer services for the investment in the military complex in Sulejówek
View Source 2025-03-12 - 2028-06-17
534,478.57 534,478.57 534,478.57 534,478.57 534,478.57 534,478.57 534,478.57 534,478.57 534,478.57 534,478.57 534,478.57 534,478.59 - - - - - - - - - - - - - - - - - - - - - - - - 6,413,742.86
Management and supervision of the execution of the contract: Design and execution of works for the construction of the rapid tram route from Kasprzaka Street to Wilanów (sections: Puławska–Św. Bonifacego and Św. Bonifacego–Branickiego)
View Source 2025-01-28 - 2025-04-30
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Comprehensive investor supervision and final as-built report for Bemowo-Piskie construction works
View Source 2025-01-17 - 2026-12-30
327,703.75 327,703.75 327,703.75 327,703.75 327,703.75 327,703.75 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,966,222.50
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AI-Generated Revenue Allocation: Revenue allocations follow IFRS 15 principles with AI-derived timing assumptions. Verify with official financial statements.

Financial Performance

PLN Showing 7 quarters | Metric: Revenue (Quarterly)

Quarterly Data

Metric 2023Q4 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3
Income Statement Revenue (Quarterly) 16.3M 4.2M 5.6M 22.3M 8.0M 11.6M 6.3M
Income Statement Gross Profit (Quarterly) 2.4M 364.7K -107.9K 2.4M -375.3K 2.2M -76.6K
Income Statement EBITDA (Quarterly) 2.4M 462.8K -95.1K 2.8M -241.7K 2.3M 0
Income Statement EBIT (Quarterly) 2.3M 447.1K -109.0K 2.5M -349.6K 2.2M 204.2K
Income Statement Net Income (Quarterly) 1.6M 314.9K -149.8K 1.8M -386.7K 1.8M 101.0K
Costs Selling & Distribution Costs 0 0 0 0 0 0 0
Costs Administrative Expenses 0 0 0 0 0 0 0
Cash Flow Operating Cash Flow 2.7M -425.9K 343.7K -197.9K -1.4M 170.7K 2.3M
Cash Flow Capital Expenditure -170.3K -2.9K -142 -2.6M -1.0K -653.7K -523
Cash Flow Free Cash Flow 2.8M -423.1K 343.9K 2.4M -1.4M 824.4K 2.3M
Cash Flow Depreciation & Amortization 109.7K 15.7K 13.8K 322.1K 107.8K 136.7K 134.6K
LTM Metrics Revenue (LTM) 16.3M 20.5M 26.2M 48.4M 40.1M 47.5M 48.2M
LTM Metrics EBITDA (LTM) 2.4M 2.9M 2.8M 5.6M 3.0M 4.8M 4.9M
LTM Metrics Net Income (LTM) 1.6M 1.9M 1.8M 3.6M 1.6M 3.1M 3.3M
Profitability Gross Margin 14.8% 8.6% -1.9% 11.0% -4.7% 18.8% -1.2%
Profitability EBITDA Margin 14.8% 11.0% -1.7% 12.7% -3.0% 19.9% 0.0%
Profitability EBIT Margin 14.1% 10.6% -1.9% 11.3% -4.3% 18.8% 3.2%
Profitability Net Margin 9.8% 7.5% -2.7% 8.3% -4.8% 15.2% 1.6%
Profitability ROIC - - - - 41.4% 48.3% 65.6%
Profitability Cash Conversion 167.0% -135.0% -229.0% -11.0% 370.0% 10.0% 2305.0%
Balance Sheet Current Assets 12.0M 8.4M 11.7M 10.9M 10.4M 12.6M 11.1M
Balance Sheet Current Liabilities 4.6M 1.2M 4.7M 3.1M 3.0M 4.6M 3.0M
Balance Sheet Inventories 391.5K 553.4K 2.2M 610.2K 757.0K 1.1M 2.3M
Balance Sheet Total Equity 8.4M 8.2M 8.1M 9.4M 9.0M 9.9M 10.0M
Balance Sheet Total Debt 68.3K 46.9K 32.7K 423.0K 409.9K 872.9K 831.1K
Balance Sheet Cash & Equivalents 6.0M 3.2M 3.6M 4.6M 3.1M 2.1M 4.5M
Balance Sheet Invested Capital 2.5M 5.0M 4.6M 5.2M 6.3M 8.7M 6.3M
Ratios Current Ratio 2.58 6.86 2.49 3.49 3.45 2.72 3.65
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Revenue (Quarterly) - Visual Analysis

Revenue (Quarterly) (PLN)
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Growth Rates (QoQ% and YoY%)
Quarter-over-Quarter Year-over-Year
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Data Source: Financial data sourced from company filings and periodic reports. Values in PLN. Margins and ratios stored as decimals converted to percentages for display.

Recent News & Developments

Sentiment Analysis (Last 6 Months)
Positive 80%
Neutral 0%
Negative 20%

Based on 5 articles

2025-12-31
SmartPZP negative

B-Act S.A. Participates in Major Tender for Central Communication Port Project

The Central Communication Port (CPK) in Poland has announced the opening of bids for the public procurement process to select a General Contract Engineer for the construction of the airport. Among the five consortia submitting offers, B-Act S.A., headquartered in Bydgoszcz, Poland, is a key partner in a consortium led by ARTELIA Société par actions simplifiée. The consortium's bid amounts to PLN 3,246,497,310.84, making it one of the highest-value offers in the tender. Other consortia include prominent international firms such as CH2M HILL POLSKA LTD, Hill International, Dar Al-Handasah, and MGGP S.A.

The tender represents a significant missed opportunity for B-Act S.A. to further solidify its position in the infrastructure sector, particularly in large-scale, high-profile projects like the CPK, which is a cornerstone of Poland's transportation development strategy.

Relevance: This article is highly relevant to B-Act S.A. as it highlights the company's involvement in a major infrastructure project, aligning with its expertise in contract engineering and investment management in the construction sector.

View source
2025-05-08
ESPI neutral

B-Act S.A. Reports Q1 2025 Financial Results and Strategic Developments

Bydgoszcz, Poland – May 8, 2025: B-Act S.A., a leading Polish engineering consultancy firm, has released its quarterly report for Q1 2025, showcasing significant developments in its financial performance and strategic initiatives. Despite reporting a net loss of PLN 386,747.42 for the quarter, the company demonstrated robust growth in total assets, which increased to PLN 13.73 million from PLN 9.38 million in Q1 2024. Equity also rose to PLN 9 million, reflecting financial stability and resilience.

Key Financial Highlights:

  • Total Assets: PLN 13.73 million (up from PLN 9.38 million in Q1 2024).
  • Net Revenue: PLN 8.03 million (110% increase compared to Q1 2024).
  • Operating Loss: PLN -349,564.04 (compared to a profit of PLN 228,311.77 in Q1 2024).
  • Cash and Cash Equivalents: PLN 3.1 million at the end of the quarter.

Strategic Developments:

  • Secured new contracts, including infrastructure projects in Bemowo-Piskie and military complex development in Sulejówek, valued at approximately PLN 29 million.
  • Joined the American Council of Engineering Companies (ACEC), becoming the first Polish company to do so, enhancing international collaboration opportunities.
  • Expanded contract portfolio to a total value of PLN 160.9 million, with PLN 80.8 million yet to be invoiced.

Challenges and Outlook:

  • Initial costs for military sector contracts and delayed revenue recognition due to payment schedules.
  • Geopolitical uncertainties in Ukraine impacting operations.

Despite these challenges, B-Act S.A. remains focused on strengthening its market position in Poland, expanding internationally, and prioritizing strategic sectors such as defense and infrastructure. The company is also investing in innovation, including AI-based solutions for contract management and process optimization.

Employment and Ownership:

  • Staff includes 29 full-time employees and 126 contract-based professionals.
  • Major shareholders include Władysław Kazimierz Białachowski (28.08%), Adam Białachowski (24.61%), and Aleksandra Zofia Białachowska (16.85%).

Relevance: This article is highly relevant to B-Act S.A.'s business profile as it highlights the company's financial performance, new contracts, strategic initiatives, and challenges, which directly impact its operations in construction, infrastructure, and consultancy services across Poland and international markets.

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2025-08-07
ESPI positive

B-Act S.A. Reports Robust Financial Growth and Expands Operations in Q2 2025

Bydgoszcz, Poland – August 7, 2025: B-Act S.A., a leading Polish engineering and consulting firm, has reported significant financial growth in its Q2 2025 report, showcasing a 175% year-on-year increase in net sales revenue, reaching PLN 11.6 million for the quarter. The company’s net profit for Q2 2025 stood at PLN 1.76 million, marking a substantial improvement compared to the previous year. Total assets surged to PLN 17.2 million, up from PLN 9.5 million in Q2 2024, reflecting strong operational performance and strategic investments.

Key Developments:

  • Secured new contracts in Poland, including engineering services for MZK Toruń’s tram and bus infrastructure projects and supervision of a diagnostic center construction for Wojewódzki Szpital Dziecięcy in Bydgoszcz.
  • Expanded operations in Ukraine with three contracts for water supply projects addressing the aftermath of the Kakhovka dam destruction.
  • Completed a PLN 70 million office-service building expansion for the Witold Pilecki Institute in Warsaw.
  • Joined the NC Focus segment of the NewConnect market, enhancing visibility and access to financial analyses.

Strategic Outlook: B-Act S.A. aims to further expand its engineering and consulting services in Poland and Ukraine, diversify its project portfolio across infrastructure, energy, and military sectors, and leverage AI tools to optimize operations. The company projects 2025 revenue of up to PLN 31.7 million and net profit of PLN 3.1 million under its optimistic forecast scenario.

Relevance: This article highlights B-Act S.A.'s financial growth, new contracts, and strategic expansion, directly aligning with its core business activities and market presence in Poland and Ukraine.

View source
2025-01-17
ESPI positive

B-Act S.A. Leads Consortium in Strategic Military Infrastructure Project

B-Act S.A., a leading Polish engineering and consulting firm based in Bydgoszcz, has announced the signing of a significant contract as the leader of a consortium with Transprojekt Gdański Sp. z o.o. and EKOCENTRUM Wrocławski Ośrodek Usług Ekologicznych Sp. z o.o. The agreement, finalized on January 17, 2025, is with the State Treasury - Regional Infrastructure Management in Olsztyn. The consortium will oversee comprehensive investor supervision, financial settlements, and post-completion documentation for two major projects at Bemowo-Piskie:

  • Construction of warehouses with accompanying infrastructure, demolition of building no. 7, and relocation of a guardhouse.
  • Installation of alarm systems in warehouse buildings along with associated infrastructure.

The contract, valued at PLN 3,224,604.90 gross, is set to be completed by December 30, 2026. As the consortium leader, B-Act S.A. will manage the financial distribution and share profits equally among the consortium members. The company’s management has deemed this agreement significant due to its financial value and potential impact on the company’s future financial and asset position.

Relevance: This contract aligns with B-Act S.A.’s expertise in military infrastructure projects and reinforces its strategic role in Poland’s construction and infrastructure sector, directly impacting its backlog and financial outlook.

View source
2025-01-28
ESPI positive

B-Act S.A. Secures Contract Extension and Increased Compensation for Warsaw Tramway Project

B-Act S.A., a leading Polish engineering and consulting firm based in Bydgoszcz, has announced a significant update to its ongoing contract for the management and supervision of the Warsaw tramway construction project. The project, undertaken in consortium with Transprojekt Gdański sp. z o.o., involves the design and execution of works for the rapid tramway route connecting Kasprzaka Street to Wilanów, including sections from Puławska Street to Św. Bonifacego Street and Stegny loop, as well as Św. Bonifacego Street to Branickiego Street.

On January 28, 2025, the parties signed an annex to the original agreement, extending the supervision period until at least April 30, 2025. Additionally, the contract value has been increased by PLN 1,877,440.71 gross, with B-Act S.A. entitled to approximately 60% of the additional compensation.

This development underscores B-Act S.A.'s strong position in infrastructure management and its ability to secure extended commitments and increased remuneration for complex projects.

Relevance: The article is highly relevant as it highlights a key contract extension and increased revenue for B-Act S.A., directly impacting its backlog and financial performance in the infrastructure segment.

View source
2025-03-12
ESPI positive

B-Act S.A. Secures Key Contract for Military Infrastructure Project in Sulejówek

B-Act S.A., a leading Polish engineering and consulting firm, has announced its participation in a significant contract as part of a consortium with Transprojekt Gdański sp. z o.o. The consortium has signed an agreement with the Warsaw-based Stołeczny Zarząd Infrastruktury to act as the Contract Engineer for an extensive military infrastructure project in Sulejówek. The project encompasses eight specific tasks within a closed development area and is scheduled for completion within 1200 days, by June 17, 2028.

The total contract value amounts to PLN 9,203,721.00 gross, with B-Act S.A.'s share to be determined in a forthcoming implementation agreement between consortium members. The company has emphasized the strategic importance of this contract due to its substantial value and potential impact on its financial and operational outlook.

Relevance: This contract aligns with B-Act S.A.'s expertise in military infrastructure and represents a significant addition to its backlog, reinforcing its position in the Polish market and supporting its long-term growth strategy.

View source
2025-11-07
ESPI positive

B-Act S.A. Reports Strong Financial Growth and Secures Key Contracts in Q3 2025

Bydgoszcz, Poland – November 7, 2025: B-Act S.A., a leading Polish engineering and consulting firm, has announced robust financial results for the third quarter of 2025, showcasing significant growth and strategic advancements in its operations.

Financial Highlights:

  • Total Assets: PLN 15.67 million (+22% YoY), driven by a remarkable 313% increase in fixed assets.
  • Revenue: Q3 revenue reached PLN 6.33 million (+12.4% YoY), with year-to-date revenue surging to PLN 25.97 million (+89.9% YoY).
  • Net Profit: Q3 net profit stood at PLN 100,995.03, contributing to a year-to-date net profit of PLN 1.48 million.
  • Cash Flow: Operating cash flow remained strong at PLN 2.33 million, with cash reserves at the end of the period totaling PLN 4.53 million.

Operational Achievements:

  • Secured high-profile contracts, including engineering services for the Centralny Port Komunikacyjny (CPK), advisory for the redevelopment of the Polska Filharmonia Bałtycka in Gdańsk, and supervision of the S7 expressway construction in Warsaw.
  • Continued market expansion in Poland and Central/Eastern Europe, with strategic operations in Ukraine despite geopolitical challenges.
  • Reclassification into the NC Focus segment on the NewConnect market, enhancing investor visibility.

Innovation and Workforce:

  • Investments in AI tools for contract management and automation of administrative processes to improve efficiency.
  • Employment figures include 30 full-time employees and 129 contractors.

Outlook:

  • Projected revenue for 2025 ranges from PLN 19.7 million to PLN 31.7 million, depending on the expansion in Ukraine.
  • Geopolitical stability in Ukraine remains a critical factor for future growth.

B-Act S.A.’s strong financial performance, strategic contract acquisitions, and focus on innovation underscore its position as a key player in the engineering and consulting sector. The company’s robust liquidity and market expansion efforts signal promising growth opportunities.

Relevance: This article is highly relevant to B-Act S.A.’s business profile as it highlights the company’s financial growth, strategic contracts, and market expansion, particularly in infrastructure projects and operations in Ukraine, which align with its core activities and market focus.

View source
2025-05-21
ESPI positive

B-Act S.A. Reports Contracted Projects Valued at Nearly 160.9 Million PLN

B-Act S.A., a leading engineering and consulting firm based in Bydgoszcz, has announced that as of March 17, 2025, the total value of its contracted and partially unsettled projects amounts to approximately 160.9 million PLN gross. Of this, 80.8 million PLN gross remains to be invoiced. This marks an increase compared to April 12, 2024, when the total value stood at 154.2 million PLN gross, with 101.7 million PLN gross pending invoicing.

The growth in contracted project value highlights the company's robust performance and expanding backlog, reinforcing its position in the construction and infrastructure management sectors.

View source
2025-06-23
ESPI positive

B-Act S.A. Secures Major Contract Engineer Role with 60% Revenue Share

B-Act S.A., a leading Polish engineering and consulting firm, has announced its participation in a significant consortium agreement alongside Transprojekt Gdański sp. z o.o., as part of a contract to serve as Contract Engineer. The consortium will oversee a major construction project, with a total lump-sum remuneration of PLN 9,203,721.00 gross. Under the terms of the agreement finalized on April 2, 2025, B-Act S.A. will receive 60% of the consortium's revenue, solidifying its role as a key partner in the project.

This development highlights B-Act S.A.'s continued success in securing high-value contracts within the construction and infrastructure sectors, aligning with its core business focus and strengthening its market position.

View source
2025-07-23
ESPI positive

B-Act S.A. Secures Major Contract for Infrastructure Development in Toruń

B-Act S.A., a leading Polish engineering and consulting firm based in Bydgoszcz, has announced the signing of a significant contract as the leader of a consortium with Transprojekt Gdański Sp. z o.o. The agreement, finalized on April 23, 2025, is with Miejski Zakład Komunikacji w Toruniu Sp. z o.o. and involves comprehensive Contract Engineer services for infrastructure projects under the FEnIKS 2021-2027, FEdKP 2021-2027, and KPO programs.

The scope of the contract includes the design and construction of a new tram and bus depot, modernization of tram tracks, development of new tram lines, and implementation of zero-emission vehicle charging infrastructure. The project is scheduled for completion by June 30, 2029, with a total contract value of PLN 4,166,010. As the consortium leader, B-Act S.A. will manage the funds and allocate profits, retaining 90% of the earnings after covering costs.

The company’s management has deemed this contract significant due to its financial value and potential impact on B-Act S.A.'s future financial and asset position.

Relevance: This article is highly relevant to B-Act S.A.'s business profile as it highlights a major infrastructure contract that aligns with the company’s expertise in Contract Engineer services and strengthens its financial outlook in the construction and infrastructure sectors.

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2026 EPS Estimates

Last updated: 2025-08-07
Bear Case
2026 EPS: PLN 0.2
Assumptions:
  • Revenue growth: 0%
  • Net profit margin: 5%
Base Case
2026 EPS: PLN 0.4
Assumptions:
  • Revenue growth: 10%
  • Net profit margin: 7.5%
Bull Case
2026 EPS: PLN 0.6
Assumptions:
  • Revenue growth: 20%
  • Net profit margin: 10%
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Note: EPS estimates are for informational purposes only and represent our analytical framework, not investment recommendations. These financial results estimates are based on stated assumptions and may change as new information becomes available.

Key Metrics

Company-specific performance indicators tailored to B-Act S.A.'s business model.

Key Metrics Coming Soon

We're building custom performance indicators for B-Act S.A..

Examples of metrics we'll track:

Recurring Revenue
Order Backlog
MRR/ARR
Customer Count
ARPU

Data Source: Key metrics are extracted from company disclosures, periodic reports, and management commentary.