OT Logistics posts EBITDA of PLN 58.2 mln, net loss of PLN 9.1 mln in 2024

In 2024, the group's consolidated revenues amounted to PLN 321 million (EUR 75 mln), down 45.8 percent year on year. Sales were lower in the port (down 47 percent year on year), shipping (down 47.5 percent year on year) and hydraulic engineering (down 29.9 percent year on year) segments.

In contrast, the OTL group recorded sales increases in the rail segment (up 21 percent year on year). The decrease in sales was mainly in bulk handling services.

As reported, in the case of OT Port Swinoujscie (OTPS), the significant decrease in bulk cargo handling of 36 percent year on year is due to the high comparative base period of 2022-2023. At that time, due to the war in Ukraine and changes in global logistics chains, a large part of cargo transport - especially coal, coke and ore - was shifted to the sea route, which significantly inflated the base period figures.

OT Port Gdynia (OTPG), on the other hand, recorded a 38 percent year-on-year decline in bulk cargo handling, which was mainly the result of lower volumes of agro products, coal and aggregates. At the same time, an 18 percent year-on-year increase in general cargo handling was recorded, covering almost all cargo groups except fertilisers.

According to CEO Kamil Jedynak, the current situation is temporary.

"We have been consistently delivering on our long-term objectives, according to which seaports remain our key assets of strategic importance. Versatility, i.e. the wide range of goods handled, remains our priority, with the agro segment considered one of the most promising areas for growth," said CEO Jedynak, quoted in the press release.

"In parallel, we are also developing the roll-on/roll-off and general cargo handling and intermodal transport segments. Our terminal in Swinoujscie is being prepared as a natural logistic base for the planned Deepwater Container Terminal, providing a comprehensive service for container and intermodal cargo," he added.

In May 2024, the management board announced the group's strategy until 2026. The strategy aims to achieve PLN 916 million (EUR 214.16 mln) revenue and 28 percent EBITDA profitability by 2027. Planned capital expenditure between 2024 and 2026 will reach PLN 256 million (EUR 59.85 mln).

"(...) In the second half of 2025, our flagship investment, i.e. the expansion of the agro terminal, which will make Swinoujscie one of the main transshipment terminals for grain and agricultural products, will be completed at OTPS," the board member Karol Bowzyk added.

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