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Tuesday, December 5, 2023

The debt of the construction industry is growing. KRD data

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The construction industry is in debt of over PLN 1.5 billion, which means an increase of PLN 262 million year on year – we learn from data from the National Debt Register. Most of the amount is the debt of sole proprietorships and enterprises performing specialized works.

According to KRD, with the increase in debt, the number of debtors also increased, currently 46.8 thousand, and their average debt is approx. 33 thousand. PLN, i.e. over PLN 5,000. PLN more than a year ago.

Debt of the construction industry

In the database of the National Debt Register of the Economic Information Office, almost 70 percent debtors it sole proprietorships – there are almost 32.5 thousand, which constitutes almost 70 percent. debtors, and their debt amounts to over PLN 780 million. There is an average of PLN 34,000 per entrepreneur. zloty. In turn, 14.4 thousand commercial law companies have PLN 761 million of debts, the average debt here is PLN 53,000. zloty.

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As KRD points out, this year also brought a record number of bankruptcy and restructuring proceedings in the construction industry. – The greatest impact on the construction industry was undoubtedly the growing one inflation, and with it a sharp increase in the prices of construction materials, fuels and energy. As a result of growing interest rates there was paralysis on the mortgage loan market and a decline in demand for new apartments. The financing of many investments is still in question due to, for example, the lack of payment of funds from the KPO – says Adam Łącki, president of the National Debt Register.

Broken down by type of activity, companies performing specialized construction works have the most overdue financial liabilities – PLN 700 million. There are also the most of them in the National Debt Register, 27.5 thousand, and their average debt is PLN 25.4 thousand. zloty.

Companies involved in the construction of buildings have a total debt of PLN 660 million. There are 15.9 thousand of them in the KRD. The record holder among them is a company from the Lower Silesian Voivodeship, which failed to pay 11 financial liabilities for a total amount of PLN 18.4 million, including: towards other companies from the construction industry.

The highest average debt – PLN 52.5 thousand contractors of civil engineering facilities have PLN. 3.5 thousand entities in the register owe PLN 181.5 million to contractors.

– The construction industry consists of contractors and subcontractors. The latter are usually at the very end of the pay chain. These are, for example, small finishing companies that receive money for the work done only after the project is completed, although they also need to invest in building materials, purchase or rent machines or even employ additional specialists. That is why they use factoring, which secures their financial liquidity until they receive money from contracts or allows them to finance company purchases. We see that micro- and small construction companies already constitute 1/3 of all factoring customers. Last year, they financed invoices worth over PLN 65 million, comments Emanuel Nowak, an expert from the factoring company NFG.

Construction companies also have their debtors. According to KRD data, other enterprises owe them over PLN 300 million, of which over half are mutual debts of the sector. The industrial processing sector is PLN 25 million in arrears, and the real estate management industry is in arrears by PLN 20 million.

Main photo source: Fakty TVN

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