CORRECTION: OT Logistics posts PLN 28.4 mln EBITDA after Q3 2025; wants to review development strategy

#The company is correcting the 2026 estimated savings amount reported in the initial press release to PLN 20 million (EUR 4.7 mln)#

After three quarters of 2025, the OTL group's revenues amounted to PLN 198 million (EUR 46.8 mln), down 15.5 percent year on year. The net loss reached PLN 27.2 million (EUR 6.4 mln) against a net loss of PLN 8.1 million (EUR 1.9 mln) in the prior year period.

At OT Port Swinoujscie, bulk cargo transhipments fell by 20 percent year on year in the reported period, due to lower transhipments of coal, other bulk goods and agricultural products. However, ore and coke transhipments increased.

At OT Port Gdynia, agricultural transhipments declined by 32 percent year on year, while general cargo transhipments increased by 21 percent in the annual terms.

As stated in a press release following the earnings report, cargo flows at OTL Group terminals in the third quarter were affected by the unfavourable and unstable political and economic situation.

"For almost two years, the port industry has been operating in a very challenging environment, where geopolitical turmoil and negative economic trends have a significant impact on our business. These factors are not without effect on our financial results," said OTL's CEO Kamil Jedynak, quoted in the press release.

"The third quarter of this year did not bring the much-awaited recovery in cargo transhipment. We focused on continuing activities that, on the one hand, allow us to keep costs under control and generate savings, and on the other hand, enable us to generate revenue. As we announced, the full effects of cost savings in the OTL Group will be visible from 2026," he added.

At the end of the third quarter of 2025, the group's debt amounted to PLN 466.18 million (EUR 110.2 mln) against PLN 428.12 million (EUR 101.2 mln) at the end of 2024.

"We have implemented a cost optimisation programme in our companies and are focusing on adapting our assets to the market situation. We have undertaken a number of commercial and operational cost-saving measures," said member of the OTL management board Katarzyna Mielec, quoted in the press release.

"We estimate that cost reductions in port companies will reach PLN 16 million by the end of 2025, and in 2026 they will bring additional savings of over PLN 20 million," she added.

As announced, the OTL group will conduct a review with a view to a possible update of its development strategy.

"The challenging market situation has led us to revise our investment plans for the terminal in Swinoujscie, including, among others, the planned construction of a fuel terminal," said member of the OTL's management board Karol Bowzyk.

He added that the planned expansion of the technological line for agro transhipment and storage has been temporarily suspended at the stage of works enabling the continuation of the investment.

pel/ ao/