Profil:
PKP Cargo SAPKP Cargo estimates H1 2024 net loss at PLN 453.1 mln
Listed rail hauler PKP Cargo estimates consolidated net loss of PLN 453.1 million (EUR 106.5 mln) in the first half of 2024 on revenues of PLN 2.3 billion (EUR 540.5 mln), the company said in a market filing.
The group's EBITDA is estimated at PLN 237 million (EUR 55.7 mln) and EBIT loss at PLN 463.2 million (EUR 108.8 mln).
According to estimates, freight weight amounted to 35.0 million tonnes and transport work amounted to 9,116 million tkm.
The Group said that the financial results achieved in the first half of 2024 were significantly affected by the results of the impairment tests of PKP Cargo and PKP CARGOTABOR assets carried out as at June 30, 2024.
"The main indications of a possible impairment of the assets of both companies were the lower-than-expected financial results achieved in the first half of 2024, which resulted in a significant deterioration of their liquidity situation," it was written.
"The results of the tests carried out indicate an impairment of PKP Cargo's fixed assets in the amount of PLN 179.3 million and PKP CARGOTABOR's fixed assets in the amount of PLN 74.6 million," it was added.
The write-downs are of a non-cash nature.
pel/ han/