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OT Logistics SAOT Logistics port operator posts PLN 6.6 mln EBITDA, PLN 10.9 mln net loss in Q1 2025
Poland's largest port operator, listed group OT Logistics, posted an EBITDA of PLN 6.6 million (EUR 1.55 mln) and a PLN 10.9 million (EUR 2.6 mln) net loss in the first quarter of 2025, the group said in a press release. OT Logistics' revenues amounted to PLN 72 million (EUR 16.95 mln)against PLN 79.4 million (EUR 18.7 mln) in the prior year period.
"The market challenges affecting OTL group's operations in 2024 have not subsided with the start of 2025 - we continue to face a difficult economic environment, both internationally and domestically. The deteriorating economic situation in China and the escalating trade war with the US are causing increased price pressure, especially in the steel sector," said the CEO of OTL Kamil Jedynak, quoted in the press release.
"High energy costs in Europe further limit the competitiveness of local producers. The market for bulk products is characterised by high volatility and the port sector continues to experience low demand for the handling of these commodities. The agro segment continues to be under pressure from low prices on international markets, limiting the propensity to divert products for export," he added.
CEO Jedynak pointed out that the group's performance was largely impacted by the continued unfavourable situation in the energy and metallurgical sectors, which was directly reflected in the financial performance of the company's Swinoujscie port, historically dedicated to handling these commodities.
"On the other hand, the reduction in local steel output and the reduction in thermal coal consumption are leading to an unprecedented scarcity of raw materials for other segments that have hitherto been available locally. The need to import them by sea creates the prospect of new cargo groups emerging," he noted.
"In addition, European investment programmes, including armaments, can boost local production. Faced with these challenges, we are taking consistent adaptation measures in many areas of our business," the CEO added.
In the first quarter of 2025, OTL's group revenue fell by 9.31 percent year on year to PLN 72 million (EUR 16.95 mln).
Freight forwarding was down 13.96 percent year on year (mainly bulk rail freight and ocean freight), while revenue in the port segment was down 9.59 percent, mainly due to lower agro, thermal coal, coke or biomass handling services, as well as storage and ancillary services.
In contrast, revenues from ore handling and other bulk cargoes increased. In hydro and rail operations, revenues increased by 32.16 percent and 29.67 percent, respectively.
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