PKP Cargo makes record profit in 2022

PKP Cargo SA, the leading rail freight operator in Poland and the EU, has presented its 2022 report. The document notes that the company’s net profit last year amounted to more than $35 million. Railway Supply magazine writes about this with reference to Rail.insider.

In 2022, the net profit of the PKP CARGO group reached PLN 148 million, while the consolidated sales income increased by 26% compared to 2021 and amounted to PLN 5,390 million. Consolidated EBITDA amounted to PLN 1,066 million, which means an increase of 108% year on year and a margin of 20%.

Another dismissals at the Belarusian Railways

The largest increase in expenses occurred in the area of fuel purchases, which is associated with an increase in wholesale energy prices and world fuel prices. At the same time, the cost of access to infrastructure for 1000 tkm remained the same. The largest share in the structure of operating expenses belonged to payments to employees, which accounted for more than 1/3 of all expenses and increased by 1.6% compared to the previous year. The company also looked at the salaries of employees and stopped the collective dispute with trade unions.

Investments amounted to PLN 776 million, which the company used to carry out the necessary repairs and purchase new rolling stock. In addition, as part of the digitalization of commercial and transport processes and increasing competitiveness, PKP Cargo has implemented an advanced CMS system in 2022.

The volume of transported goods remained at the level of 100.6 million tons with an increase in transportation indicators by 5.5% to the level of 27.008 billion tkm. Transportation of solid fuels, including hard coal, remained at the same level in 2022 as in the previous year. In addition, in 2022, PKP Cargo carried out the tasks assigned by the government for the transportation of coal without additional funds from the state budget.

Railway news you might have missed:

Regulator approves merger of CP and KCS railways