Polimex Mostostal

What Polimex Mostostal does

Polimex Mostostal S.A. is a Polish engineering and construction company established in 1945 and listed on the Warsaw Stock Exchange (ticker: PXM) since 1997. Operating as a general contractor in the EPC formula, the group delivers turnkey industrial investments in five segments: Industrial Construction, Oil/Gas/Chemicals, Power Sector and Service, Infrastructure, and Manufacturing. Its primary customers are large enterprises in the energy and petrochemical industries, including PGE GiEK (Bełchatów), ENEA Wytwarzanie, PKN Orlen, PERN, and technology partners such as Alstom, Andritz, and RAFAKO; additional clients include BASF and TOTAL in Belgium and municipal/government buyers.

The capital group executes work through eleven wholly-owned subsidiaries: Naftoremont-Naftobudowa (petrochemical/refinery services), Polimex Budownictwo (general industrial construction), Polimex Energetyka (power), Mostostal Siedlce (steel structures with 3,000 tons/month capacity, ~50% exported), Polimex Operator (equipment rental), Stalfa (steel/aluminum processing), Polimex Infrastruktura (roads/bridges), Polimex-Mostostal ZUT, Energomontaż-Północ Bełchatów (general contracting at Bełchatów), Instal-Lublin (HVAC/heat/sanitary installations), and Czerwonogradzki Zakład Konstrukcji Stalowych. Certifications include ISO 9001:2015, ISO 14001:2015, PN-ISO 45001:2018, and UDT permits for regulated industrial equipment. Ownership is concentrated: ENEA (15.86%), PGE (15.92%), Orlen Technologie (15.85%), and Energa (15.85%) jointly hold 63.48% of voting rights.

Revenue is generated primarily through project-based EPC contracts secured via public procurement (zakupy.polimex.pl) and direct enterprise negotiation, supplemented by steel-structure manufacturing/hot-dip galvanizing exports and specialized industrial repair services. The 2025 financial year showed operating revenue of PLN 4,130 million (+45% YoY), EBITDA of PLN 243 million (versus PLN -351 million in 2024), and net profit of PLN 134 million at a 3.3% margin. Go-to-market is sales-led, driven by industrial tendering, multi-language corporate communications (PL/EN/DE/RU), and participation in industry events such as the Ukraine Recovery Conference. Strategic positioning has expanded in 2026 toward Ukraine reconstruction and small modular reactor deployment via partnerships with Budimex, AMW Sinevia, SGE and ATEC Group.

Name

Polimex Mostostal

Legal name

Polimex Mostostal S.A.

Website

https://polimex-mostostal.pl

Company type

Public

Founded year

1945

Operating status

Operating

Headcount range

11–50 employees

Short description

Polimex Mostostal is a Polish EPC general contractor listed on the Warsaw Stock Exchange, serving enterprise clients in the energy, petrochemical, and infrastructure sectors. It delivers turnkey industrial construction projects through a capital group of eleven subsidiaries, plus exported steel structures to over 40 countries.

Ownership category

akta.pro rank

Product category

Industrial Construction and Engineering Services

NAICS

Engineering Services (541330)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Chemical & Petrochemical Plant Construction (IMAFADAA)

akta.pro secondary industries

Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls) (EUAEAAAM), Process Plant & Materials Handling EPC (Crushing, Conveying, Stockpiles, Loadout) (IMAKAOAE)

Keywords

• Industrial construction services
• EPC general contracting
• Steel structure manufacturing
• Power plant construction
• Petrochemical construction services

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D

Revenue model

1. Industrial construction contracts: General contractor and EPC (Engineering, Procurement, Construction) contracts for strategic national projects in power sector, petrochemical industries, and environmental protection. Revenue is project-based and typically large-scale.
2. Steel structure manufacturing and export: Manufacturing and export of steel structures and platform gratings, with corrosion protection services (hot-dip galvanizing and painting). Monthly production capacity of 3000 tons, with 50% exported to over 40 countries.
3. Specialized repair and maintenance services: Repair services for refineries, petrochemical plants, and power facilities, including modernization and renovation of industrial installations. These services require significant workforce commitment under tight deadlines.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Polimex Mostostal S.A. operates as a general contractor delivering turnkey industrial construction projects in EPC (Engineering, Procurement, Construction) formula for the power, petrochemical, oil & gas, and infrastructure sectors in Poland and internationally. Beyond construction services, the company manufactures steel structures and platform gratings at industrial scale (3,000 tons/month, with 50% exported to more than 40 countries) and provides corrosion protection services including hot-dip galvanizing and anti-corrosion painting.

Product overview

Polimex Mostostal S.A. is a Polish engineering and construction company operating as a capital group with multiple subsidiaries. The company functions as a general contractor for industrial construction, offering specialized services across five main segments: Manufacturing (steel structures, platform gratings with 3,000 tons monthly capacity), Industrial Construction, Oil/Gas/Chemicals, Power Sector/Service, and Infrastructure. The capital group comprises subsidiaries including Naftoremont-Naftobudowa (petrochemical services), Polimex Budownictwo (industrial construction), Polimex Energetyka (energy sector), Mostostal Siedlce (steel structures/galvanizing), Polimex Operator (equipment base), Stalfa (steel/aluminum processing), Polimex Infrastruktura (road/bridge construction), Energomontaż-Północ Bełchatów (general contracting/installations), and Instal-Lublin (installation services). The company implements turnkey investment projects in EPC formula for power facilities, storage tanks, industrial installations, terminals and ports, with additional services in corrosion protection and environmental protection systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Manufacturing (Steel Structures and Platform Gratings) Manufacturing of steel structures, platform gratings, and various transport pallets for industrial customers; 3,000 tons monthly capacity with 50% exported to over 40 countries.
• Industrial Construction (EPC / General Contractor) General contractor services for industrial construction, including turnkey investment projects in EPC formula for power facilities, storage tanks, industrial installations, terminals, and transshipment ports.
• Oil, Gas and Chemicals Services Investment, modernization, and renovation of industrial installations for petrochemical, refinery, chemical, oil and gas customers; includes fuel depot tank construction and refurbishment.
• Power Sector and Service Construction, modernization, renovation, and maintenance of power facilities; repair services for power plants including flue gas desulfurization, absorbers, ash handling, and duct installations.
• Infrastructure (Road and Bridge Construction) Road and bridge infrastructure construction services executed primarily through the Polimex Infrastruktura subsidiary.
• Hot-Dip Galvanizing and Anti-Corrosion Protection Corrosion protection services for steel structures via hot-dip galvanization and painting, operated under the Mostostal Siedlce subsidiary.
• Environmental Protection Services Comprehensive air and water protection services including flue gas desulfurization installations, dedusting systems, water treatment plants, and waste treatment facilities.

Quantifiable outcome

• 45% year-over-year revenue growth in 2025 (PLN 1,274 million increase to PLN 4,130 million)
• +2 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eleven partnerships are on record, tiered core.

• BudimexcoreStrategic or Co-development Partner · 1 July 2026Polish construction firm that agreed to cooperate with Polimex-Mostostal and AMW Sinevia on joint infrastructure bids in Ukraine, targeting the estimated $524 billion postwar reconstruction effort.
• AMW SineviacoreStrategic or Co-development Partner · 1 July 2026Construction company partnering with Polimex-Mostostal and Budimex for joint infrastructure bids in Ukraine reconstruction projects.
• PGE Polska Grupa EnergetycznacoreStrategic or Co-development Partner · 1 July 2026Major Polish energy utility that signed joint pact with Tauron, Enea, and Energa for energy projects in Ukraine reconstruction, supported by €195 million EU financing guarantee.
• TauroncoreStrategic or Co-development Partner · 1 July 2026Polish energy utility participating in joint energy project pact with PGE, Enea, and Energa for Ukraine reconstruction efforts.
• EneacoreStrategic or Co-development Partner · 1 July 2026Polish energy company part of the joint pact with PGE, Tauron, and Energa for energy infrastructure projects in Ukraine.
• EnergacoreStrategic or Co-development Partner · 1 July 2026Polish energy utility participating in joint energy infrastructure cooperation for Ukraine reconstruction.
• SGE S.A.coreStrategic or Co-development Partner · 1 April 2026Partner in cooperation agreement signed April 1, 2026 for promoting SMR (small modular reactor) technology deployment in Central and Eastern Europe using GE Vernova and Hitachi Nuclear Energy's BWRX-300 technology.
• ATEC Group sp. z o.o.coreStrategic or Co-development Partner · 1 April 2026Partner in SMR technology cooperation agreement with Polimex Mostostal and SGE for deployment of BWRX-300 small modular reactors in Central and Eastern Europe.
• RAFAKO S.A.coreStrategic or Co-development PartnerLong-standing strategic partner in power sector projects, including construction of flue gas desulfurization systems, absorbers, and IOS systems at various Polish power plants.
• Alstom PowercoreStrategic or Co-development PartnerInternational technology partner for power generation projects including major 858MW unit construction at Bełchatów Power Plant, cooling systems, and turbine installations.
• Andritz Energy & Environment GmbHcoreStrategic or Co-development PartnerInternational engineering partner for manufacturing steel structures, absorbers, and flue gas systems for multiple power plant projects across Europe and internationally.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Budimex: Poland's largest general construction and infrastructure contractor; the most direct national peer to Polimex Mostostal in EPC industrial construction, and an explicit consortium partner for Ukraine reconstruction bids.
• Mostostal Warszawa: Polish steel construction and general contractor serving industrial and infrastructure clients; comparable scale and direct overlap with Polimex Mostostal's steel structure fabrication and industrial EPC business.
• Erbud: Warsaw-listed Polish construction group operating in industrial, energy, and infrastructure segments; competes for similar industrial tenders and provides comparable EPC services.
• UNIBEP: Polish general contractor with industrial construction and modular fabrication exposure; competes in Polish industrial and energy construction tenders.
• RAFAKO: Polish EPC contractor specialized in power plant boiler and environmental protection systems (flue gas desulfurization); an existing Polimex Mostostal partner for Bełchatów and similar projects and a direct power-sector competitor.
• Bilfinger: European industrial services provider delivering maintenance, EPC, and consulting for energy and process industry clients; comparable in scope of industrial EPC services to Polimex Mostostal's power and petrochemical segments.

Broad incumbents

• Skanska: Global construction and project development group with strong Central European industrial and infrastructure operations; competes for larger cross-border industrial tenders against Polimex Mostostal.
• Strabag: Austrian-headquartered European construction leader with broad industrial and infrastructure EPC capabilities; competes for major Central European energy and infrastructure contracts.
• HOCHTIEF: German global infrastructure and industrial construction group; competes with Polimex Mostostal on large-scale energy and industrial EPC tenders across Europe.
• Andritz: Austrian technology and industrial plant supplier for power generation and environmental processes; both a customer of Polimex Mostostal's steel structures and a broader EPC incumbent competing for similar power projects.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/GrupaPolimex

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Polimex Mostostal