Ocena wyników działalności wybranych spółek budowlanych notowanych na GPW w świetle ogólnej sytuacji branży
Assessment of the performance of selected construction companies listed on the Warsaw Stock Exchange in the light of the overall situation of the industry

Summary/Abstract: The construction sector is characterised by high volatility in the financial situation of the entities operating in it (general contractors, subcontractors, material producers and wholesalers). This affects how the industry is assessed by banking and insurance institutions that provide construction companies with access to guarantees and external financing. A difficult market, even during a bull market, volatile economic situation, multi-stage execution of contracts mean that the construction sector has problems with maintaining financial liquidity and debt service. The considerations carried out allow to conclude that the recent years have not been easy for the construction industry, which was due to many factors. The implementation of unprofitable infrastructure contracts, difficulties in dialogue with an investor of public funds, as well as a limited number of tenders adversely affected the financial results of companies in this sector. The analysed construction companies from the group listed on the Warsaw Stock Exchange maintained their good financial condition in the analysed period. The main purpose of this study is to evaluate the performance of five companies in the construction industry listed on the WSE on the basis of selected financial information for 2014–2019. These data will be analysed in terms of dynamics and average growth rate using the ṝ, method, the essence of which results from the fact that only the initial and final expression of the chronological series determines the numerical value of the average growth rate. The actual chronological series can be thought of as “a geometric progression with a variable quotient”. The study is descriptive and empirical.

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