Construction Stock Comp.
GRANIT Construction Stock Co. was founded as a “company for construction of roads for the requirements of the Socialist Republic of Macedonia” under a government decision of the S.R. Macedonia no. 1235/52 on November 24, 1952. In the following 61 years GRANIT has transformed from a socialist company to a public company by privatization in 1996, growing to become the largest Macedonian civil contractor. In the Yugoslav era GRANIT developed capacities for executing bigger projects and since Macedonia is too small to satisfy GRANIT’s full capacity the solution was to expand and participate in international projects. Today, GRANIT tries to maintain a balance between works execution home and abroad in order to continue to exist as one of the few companies responsible for the infrastructure development in the country as well as excel and gather knowledge from executing works abroad. Men who stand behind the name of GRANIT today, have one wish in common - to preserve all that has been created until now, so that GRANIT can step into the future even more granite-like. General Manager Milkovski Straso
YEAR 1952 • GRANIT was founded as a company for construction of roads for the requirements of the Socialist Republic of Macedonia YEAR 1963
Corporate History
• GRANIT is taking part in the reconstruction after the Skopje earthquake which levels the bigger part of the city to the ground YEAR 1969 • First contract abroad and first in the Middle East, Construction of the Homs - Salet highway in Syria
YEAR 1972 • Takes part in the construction of the Zwentendorf nuclear power plant in Austria
YEAR 1974 • GRANIT is awarded a contract to build a Kuwaiti military airbase (contract of 162.000.000, 00 USD) which is the first major project abroad
YEAR 1975 • Takes part in the construction of the Altenwört hydropower plant in Austria
YEAR 1979 • GRANIT enters the Libyan market constructing highways and streets in Benghazi
YEAR 1981 • Project 202-B-2 military airfields (249.500.000, 00 USD) in Iraq • GRANIT wins its third biggest contract (93.500.000, 00 USD) in residential building in Maturate, Libya
• Project 1100 - military airfield in Iraq YEAR 1989 • Rehabilitation of the Kuwaiti International Airport runway • Construction of a military airbase in Algeria
YEAR 1993 • GRANIT wins the first project abroad after the collapse of Yugoslavia; construction of Novokuzneck Steel factory, GRANIT’s first project in Russia
YEAR 1994 • Enters the Bulgarian market: contracts totaling 57.500.000, 00 USD
subsidiary in order to manage a reinforced mash factory, the biggest cement plant in Skopje as well as a machine workshop part of a led and zinc mine in the Eastern part of Macedonia • GRANIT wins the construction of motorway European Corridor 8, Construction of Skopje bypass, section Hipodrom – Orizari, totaling 71.910.398,17 EUR. The construction was completed in 2010.
YEAR 2003 • Enters the Croatian market; contracts totaling 62.520.000, 00 EUR • Enters Ukraine market; contracts totaling 135.000.000, 00 EUR
YEAR 2006 • GRANIT wins the rehabilitation of Pristine Airport, Kosovo
YEAR 1996 • GRANIT was transformed into a joint stock company and became the first civil contractor with private capital in the country
YEAR 1997 • GRANIT starts a Hotel at the Ohrid Lake with initial idea to act as a company retreat for the employees. Later to be opened for the public as well
• Construction of Dam Zletovica, totaling 3.645.424,00 EUR. • GRANIT started working on the construction of the Dam Sveta Petka, contract totaling 3.773.147,00 EUR.
YEAR 2008 • Project of 145 High school gyms totaling 58.280.000, 00 EUR
• Rehabilitation of Sarajevo airport • Rehabilitation of Sofia airport
YEAR 2009
YEAR 1999
• Construction of the State archive, Constitutional court and Archeological museum in Macedonia
• Enters the Albanian Market - winning four contracts (ca. 60.000.000, 00) in 3 years period
• Signed contracts with the Public Enterprise for State Roads, totaling 70.675.297,28 EUR.
YEAR 2002 • Gamatroniks established by
DOOEL GRANIT as
is a
• Construction of streets and other supporting facilities in TIRZ Skopje 2, signed contract totaling 2.245.674,42 EUR, completion date
01.12.2010. • GRANIT signed contact with REK Bitola, totaling 36.455.286,47 EUR. YEAR 2012 • GRANIT signed another contract with REK Bitola, totaling 53.339.837,4 EUR. • GRANIT and JV Partner signed contract with Public Company Republic of Srpska motorways: Construction of motorway Banja Luka – Doboj, section Prnjavor – Doboj. The value of the contract is EUR 180.000.000 (Granit participation 40%)
YEAR 2013 • GRANIT wins the construction of the Tower for telecommunications of AEK- antenna system for control and monitoring of the radio frequencies in the territory of Macedonia, contract value 20.812.245,20 EUR. • GRANIT started with the construction of the Small Hydropower plant Jablanica, with capacity of 3,4 MWh
YEAR 2014 • GRANIT signed contract with Sinohydro Corporation Limited Bejing - Branch Office Skopje for construction of motorway Miladinovci-Stip section Sveti Nikole-Stip. The value of the contract is 38.413.109,53 EUR. • GRANIT signed contract with Sinohydro Corporation Limited Bejing - Branch Office Skopje for construction of motorway Kicevo – Ohrid. The value of the contract is 117.609.360,15 EUR.
CORPORATE HISTORY
YEAR 1987
Our People GRANIT’s management characterizes employees as ambitious and self-motivated and exercise self-control. Employees at GRANIT enjoy their mental and physical work duties. According to head of HR department, to them work is as natural as play. They possess the ability for creative problem solving, while their talents are maximum utilized in problem solving cases. Given the proper conditions, employees seek out and accept responsibility and exercise selfcontrol and self- direction in accomplishing objectives to which they are committed. We believe that by giving the right conditions, most people will want to perform well at work. The satisfaction of doing a good job is a strong motivation. Our managers are open to a more positive view of workers and the possibilities that emerge. Developing climate of trust with employees that is also required for human resource development is the essential part of our human resource strategy. It’s here through human resource development that is a crucial aspect of our organization. This includes managers communicating openly with subordinates, minimizing the difference between superior employee relationships, creating a comfortable environment in which employees can develop and use their abilities. This climate includes the sharing of decision making so that employees have a saying in decisions that influence them. GRANIT continues to invest in the constant development of ouremployees professional and personal skills. We believe that giving our employees more responsibility allows them to grow.
Employee Structure
6% ENGINEERS 86% WORKFORCE
1% CHEMICAL ENGINEERS
8% ADMINISTRATION
1% TECHNOLOG
1% GEODETIC ENGINEERS 22% ARCHITECTS
3% ELECTRICAL ENGINEERS 7% MINING ENGINEERS
10% MECHANICAL ENGINEERS
55% CIVIL ENGINEERS
Our Work GRANIT’s core business in both the domestic and international market is roads, bridges and airports construction.
While residential, public and administrative as well as industrial buildings are also part of GRANIT’s portfolio, construction of such is only practiced in our domestic market.
Road Construction Road Construction is the core business field for GRANIT. For 61 years of active operation, GRANIT has constructed over 850 km of highways, 6200 km of roads, excavation and filling in hundreds of millions cubic meters of earth, and building in several million tons of asphalt. On these constructions, hundreds of kilometers of embankment and thousands of kilometers of drainage systems were reconstructed. GRANIT undertakes projects of different sizes. Skopje ring road, Kiev - Lvov road rehabilitation, Macelj Zagreb - Lipovac highway rehabilitation, projects in Bosnia Construction of motorway Banja Luka – Doboj, section Prnjavor –Doboj and section Banja Luka – Prnjavor as well as projects in Macedonia, construction of motorway Miladinovci-Stip section Sveti Nikole-Stip and construction of motorway Kicevo – Ohrid are some of GRANIT’s most notable projects.
ROAD CONSTRUCTION
CONSTRUCTION OF SKOPJE - TETOVO MOTORWAY, SECTION GRUPCHIN - SKOPJE, MACEDONIA, 1999 - 2002
CONSTRUCTION OF SKOPJE RING ROAD, MACEDONIA, 2003 – 2009
CONSTRUCTION OF INTERCHANGE HIPODROM, MACEDONIA, 2005
RECONSTRUCTION OF CORCA - CAPSHTICA MOTORWAY, ALBANIA, 1999 - 2001
CONSTRUCTION OF INTERCHANGE VELIKO TRNOVO, BULGARIA, 1998 – 1999
ROAD CONSTRUCTION
CONSTRUCTION OF KUKES - MORINE ROAD, ALBANIA, 2006 – 2009
ROAD CONSTRUCTION
REHABILITATION OF M06 KIEV - CHOP MOTORWAY, SECTION I, UKRAINE, 2002 – 2005
REHABILITATION OF KIEV - CHOP MOTORWAY, SECTION II, UKRAINE, 2005 – 2008
CONSTRUCTION OF DEREVACH KIEV - CHOP RING ROAD, UKRAINE, 2007 – 2008
RECONSTRUCTION OF ZAGREB - BEOGRAD MOTORWAY, SECTION II LJIPOVALJANI, CROATIA, 2004 – 2005
RECONSTRUCTION OF ZAGREB - SISAK MOTORWAY, SECTION VELIKA GORICA - BUSHEVAC, CROATIA, 2007 – 2009
ROAD CONSTRUCTION
CONSTRUCTION OF MOTORWAY RIJEKA - ZAGREB, SECTION KIKOVICA - OSTROVICA, CROATIA, 2006 – 2007
ROAD CONSTRUCTION
RECONSTRUCTION OF BLVD. ILINDEN, SKOPJE, MACEDONIA, 2012-2013
CONSTRUCTION OF TRAFFIC CIRCLE IN SKOPJE, MACEDONIA, 2012-2013
CONSTRUCTION OF MOTORWAY KICEVO – OHRID MACEDONIA 2014
CONSTRUCTION OF MOTORWAY KICEVO – OHRID, MACEDONIA, 2014
CONSTRUCTION OF BANJA LUKA –DOBOJ MOTORWAY, SECTION PRNJAVOR- DOBOJ. BOSNIA AND HERZEGOVINA 2012
ROAD CONSTRUCTION
CONSTRUCTION OF HIGHWAY A4, SECTION BRZESKO-WIERZCHOSLAWICE KM 479+000 – 499+800 KM, POLAND, 2010
Bridge Construction GRANIT has constructed over 2300 bridges in its existence, both in country and abroad, making the company develop capacities and knowledge in the bridge construction. Parts of the bridges are a concrete reinforced, and part pre-stressed. They are constructed as passageways on highways, roads, streets, railways, as well as passage ways over rivers and urban areas. Construction of three bridges Veliki Svib, Mali Svib and Melnik on the highway Rijeka – Zagreb links the capital with the Croatian Riviera. While the construction of one over pass and 7 viaducts with total length of 1400 meters on the Kukes - Morine motorway contributes to the development of the Albanian roads network. Rehabilitation of over 50 bridges in Ukraine is just a part of the rehabilitation of Kiev - Chop motorway. As well recent days the company has been active in country by reconstructing of 54 bridges on E75 motorway that links Macedonia with its north and southern neighbors
BRIDGE CONSTRUCTION
“VELIKI SVIB” BRIDGE; CONSTRUCTION OF THREE BRIDGES ON THE HIGHWAY RIJEKA – ZAGREB, CROATIA, 2006 - 2007
VIADUCT NR.7; CONSTRUCTION OF ONE OVER PASS AND 7 VIADUCTS ON THE KUKES - MORINE MOTORWAY ALBANIA, 2006 - 2009
VIADUCT NR.2; CONSTRUCTION OF ONE OVER PASS AND 7 VIADUCTS ON THE KUKES - MORINE MOTORWAY ALBANIA, 2006 - 2009
REHABILITATION OF 32 BRIDGES ON E75 MOTORWAY, SECTION SKOPJE – VELES MACEDONIA, 2007 - 2008
CONSTRUCTION OF KALIMANCI BRIDGE, MACEDONIA, 1995 -1996
BRIDGE CONSTRUCTION
BRIDGE NR. 22; REHABILITATION OF 22 BRIDGES ON E 75 MOTORWAY,SECTION DEMIR KAPIJA – GEVGELIJA MACEDONIA, 2008 - 2008
Airport Construction GRANIT managed to transfer the experience gathered with the construction of airports in Iraq, Bosnia and Herzegovina, Kuwait, Algeria and both main airports in country Skopje and Ohrid. Despite successful experience in construction of airports the company has been involved in reconstruction of the runway, taxiways and aprons on the Skopje and Ohrid airports, as well as on Sofia airport. Nowadays GRANIT plays crucial role in the reconstruction process of Pristina airport by extension of the main runway, building modern taxiway and aprons.
AIRPORT CONSTRUCTION
AIRPORT IRAQ REHABILITATION OF THE B-2 MILITARY AIRFIELDS, IRAQ, 1981-1981
AIRPORT KUWAIT REHABILITATION OF THE KUWAITI INTERNATIONAL AIRPORTRUNWAY, KUWAIT 1989 – 1989
AIRPORT OHRID REHABILITATION OF OHRID AIRPORT, MACEDONIA 1990 – 1990
AIRPOT SKOPJE RECONSTRUCTION OF SKOPJE AIRPORT, MACEDONIA 1993 – 1993
AIRPORT PRISTINE REHABILITATION OF PRISTINE AIRPORT, KOSOVO 2006 – 2008
AIRPORT CONSTRUCTION
AIRPORT SARAEVO REHABILITATION OF SARAJEVO AIRPORT, BOSNIA AND HERZEGOVINA 1997- 1997
Hydro Construction For a half a century of our existence GRANIT has built many hydro technical structures of all kinds in Macedonia: Concrete dams, embankments for river control, irrigation system and water supply system. The company is proud of continuous contribution into the building and development of the national electric power system. GRANIT took part in the construction of Kozjak hydropower plant with capacity of 100MWh. Concrete dam Sveta Petka not far from the capital enables production of additional 27,66MWh that is enough to satisfy the capital household needs and some part of the capitals industry. Knezevo earth - rock dam with its 1.7mil/m3 of embankments will contribute additional 22.5 mil/ m3 useful water accumulation to the hydro system Zletovica.
RATEVSKA REKA DAM, MACEDONIA, 1972-1972
HYDRO CONSTRUCTION
HPP ST. PETKA- MATKA, SKOPJE, MACEDONIA, 2006- 2012
KNEZEVO DAM, MACEDONIA, 2009
Building Construction Although GRANIT is specialized in road construction, we can proudly say that our company is the leading company in our country for residential and commercial building construction. In the last 20 year Granit has built over 85 public and private schools, over 310 industrial buildings and over 660 commercial buildings. The building construction projects such as the State archive, Constitutional court and Archeological museum in Macedonia and the project for construction of 145 elementary and secondary school gyms are part of GRANIT’s portfolio.
MACEDONIAN TELECOMUNICATIONS HEADQUARTERS, MACEDONIA, 2000 – 2001
BUILDING CONSTRUCTION
CUSTOMS HEADQUARTERS, MACEDONIA, 2003 – 2004
HONDA SHOW ROOM, MACEDONIA, 2008 – 2009
BUILDING CONSTRUCTION
CONSTITUTIONAL COURT, STATE ARCHIVE AND ARCHAEOLOGICAL MUSEUM OF MACEDONIA, MACEDONIA, 2009-2013
CRIMINAL COURT SKOPJE, MACEDONIA, 2011-2013
MULTI STOREY GARAGE ON STREET MITO HADZIVASILEV JASMIN, SKOPJE, MACEDONIA, 2011-2013
PORT MACEDONIA, MACEDONIA, 2010-2012
SPORTS CENTRE “JANE SANDANSKI” , SKOPJE MACEDONIA, 2011-2013
BUILDING CONSTRUCTION
ADMINISTRATIVE BUILDING OF THE AGENCY FOR ELECTRONIC COMMUNICATION, MACEDONIA, 2011-2013
Plants and Production Facilities GRANIT’s strategy is to be economically independent and self - sufficient for most of its basic resources therefore securing resources such as rock, concrete and asphalt is of outmost importance. Plants GRANIT operates 18 concrete plants with capacity from 30 m3/h to 180m3/h and annual production of concrete approx.118.786, 54m3, and 5 asphalt plants with capacity from 40 t/h to 120 t/h and annual production of asphalt approx. 210.343,23 tons. Quarries GRANIT has a concession on 7 stone quarries for production of crushed stone fraction. The annual aggregated production is approx. 963.414,81 tons. Production facilities GRANIT owns manufacturing and maintenance plants and production factories located throughout the whole country: •
Production of separated natural sand and gravel.
•
Production of wood construction elements.
•
Reinforcement mesh factory.
•
Finishing and craftsmen works.
•
Construction equipment maintenance and repairs plant.
•
Production of concrete blocks.
Concrete plant, capacity 180m3/h
Asphalt plant, capacity 120t/h
Quarry Brazda
PLANTS AND PRODUCTION FACILITIES
Asphalt plant, capacity 155t/h
Reinforcement mesh factory
Machinery Logistics and equipment are one of the key assets of GRANIT. GRANIT’s Mechanical department counts 485 employees who operate and perform maintenance on the machinery. GRANIT’s machinery and equipment park accounts for 478 pieces of construction machinery and 31cranes.
MACHINERY
Corporate Management GRANIT complies with the European Corporate Governance Code; the twotier system comprised of the Management Board that reports on behalf of the Supervisory Board is accustomed.
Shareholders Structure According to the Corporate Governance Code the shareholder’s structure of the 3.071.377,00 bearer shares issued by GRANIT are displayed:
Shares DOMESTIC INDIVIDUALS DOMESTIC LEGAL ENTITIES FOREIGN INDIVIDUALS FOREIGN LEGAL ENTITIES UNIDENTIFIED INDIVIDUALS GRANIT (OWN SHARES) TOTAL
%
2.117.362
68,94
356.526
11,61
86.146
2,81
375.824
12,24
10.212
0,33
125.037
4,07
3.071.107
100,00
68.94% DOMESTIC INDIVIDUALS 4.07% GRANIT (OWN SHARES) 0.33% UNIDENTIFIED INDIVIDUALS
12.24% FOREIGN LEGAL ENTITIES
2.81% FOREIGN INDIVIDUALS
11.61% DOMESTIC LEGAL ENTITIES
Short Financial Overview Revenues abroad and in the country for last 5 years – Value EUR
90.000
20.000
35.778,13
30.000
country
25.474,45
40.000
10.000
16,918.20
50.000
abroad
6.148,06
60.000
64.566,38
66.201,08
70.000
42.380,23
in thousand EUR
80.000
91.016,94
101.741,65
100.000
87,830.88
110.000
0 2009
2010
2011
2012
2013
Consolidated revenues and distributed profit in last 5 years - Value EUR 140.000
96.580,41
80.000
ditstributed proďŹ t
5,859.50
4.735,58
6.463,07
4.761,39
20.000
revenues
127.196,91
40.000
5.313,47
60.000
64.160,78
in thousand EUR
100.000
105,283.97
127.196,91
120.000
0 2009
2010
2011
2012
2013
Averige net profit per employee in the last 50years - Value EUR
3.42
3,5
3.07
3
2.53 2.16
2
2.30
in thousand EUR
2,5
net proďŹ t per employee
1,5 1 0,5 0
2009
2010
2011
2012
2013
GRANIT Construction Stock. Dimitrie Cupovski 8, 1000 Skopje, Macedonia tel. + 389 2 3218 700; email: granit@granit.com.mk www.granit.com.mk