PKP CARGO: 3Q 2023 Performance Results

Polish freight operator, PKP CARGO, summarized its activities for the first three quarters of 2023, this is reported by the railway transport news portal Railway Supply.

Revenue reached 4,168 million Polish zlotys (958.6 million euros), showing a 9% increase compared to the same period in 2022.

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Despite a reduction in transport volume and cargo turnover, the operator achieved growth in both income and profit.

From January to September 2023, PKP CARGO transported 62 million tons of cargo, an 18% decrease, including reduced shipments of coal and gravel.

Cargo turnover decreased by 16% to 16.9 billion ton-kilometers. Notably, gravel transport decreased to 15.1 million tons, and multimodal routes saw a decline from 6.8 million to 4.1 million tons.

Consolidated EBITDA increased by 32%, reaching 853 million zlotys (196.2 million euros), with EBITDA profitability at 20.3%, surpassing the same period in 2022 by 4 percentage points.

Operational expenses for the first three quarters of 2023 amounted to 3,862 million zlotys, a 4% increase compared to the same period in 2022. The majority of expenses were related to rolling stock repair and modernization (620.6 million zlotys) and the acquisition of new locomotives (191.5 million zlotys).

In November 2023, a 13-hectare multimodal terminal, Zdunska Wola-Karsnice, was commissioned in the Lodz Voivodeship, Poland. Its processing capacity is estimated at 500,000 TEU per year, with total construction investments exceeding 128 million zlotys.

Photo: PKP CARGO

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