OT Logistics applies to EU transport projects centre for funding

Polish port operator OT Logistics Group has submitted an application to the Centre for EU Transport Projects (CEUTP) for co-financing for the development of intermodal transport, OTL's management board told a video conference.

As reported, the group, seeks to equip terminals with modern equipment and mechanised equipment in pursuing its strategy.

"We have submitted an appropriate application to the Centre for EU Transport Projects (CEUTP) for funding in terms of the possibility of developing intermodal transport, both in the port of Swinoujscie and the port of Gdynia," board member of OT Logistics Karol Bowzyk said.

"We are waiting for the outcome and hope to have it within a month," he added.

The management pointed to the agro products market as the leader of the company's investment programme.

"Our flagship investment is the continuation of the construction of the second stage of the agro terminal in Swinoujscie," Bowzyk said.

"As far as the advancement of the investment process is concerned, we are completing all administrative arrangements, we have the construction project ready, so we will soon be submitting an application for a building permit," he added.

The board member reported that the warehouse space at OT Port Gdynia is also in the final stages of construction.

"At OTL Gdynia we can also boast that we are in the final stages of construction of a new storage base, a warehouse base. (...) These are warehouses with a total of 30,000 tonnes," Bowzyk said.

"Completion of the investment is planned for late November/early December," he added.

OTL Group's consolidated revenues in the first half of 2024 amounted to more than PLN 161 million (EUR 37.7 mln). The Group recorded a net profit of PLN 0.3 million (EUR 70.3k) and EBITDA amounted to PLN 33.2 million (EUR 7.8 mln).

In the first half of 2024, the group paid a second tranche of dividends for 2023 of PLN 37.46 million (EUR 8.8 mln).

gaw/ nl/ ao/