5/2022 Preliminary estimated financial results of the Trakcja Group for the fourth quarter of 2021 and for the period of 12 months ended on 31 December 2021

The Management Board of the Company Trakcja S.A. (“the Company”) hereby informs that on January 31, 2022 the preliminary analysis of the available financial results of individual units of the Issuer’s Group was completed and collecting financial data for the purposes of drawing up a consolidated financial statement of the Trakcja Group for the period of 12 months ended on 31 December 2021. Therefore, it is hereby announced as follows:

Preliminary estimated consolidated financial results of the Trakcja Group for the fourth quarter of 2021:
     Revenue from sales: PLN 454,379 thousand
     Gross profit on sales: PLN 36,499 thousand
     EBITDA: PLN 51,859 thousand
     Gross profit: PLN 34,472 thousand

Preliminary estimated consolidated financial results of the Trakcja Group for the period of 12 months ended on 31 December 2021:
     Revenue from sales: PLN 1,424,817 thousand
     Gross profit on sales: PLN 64,886 thousand
     EBITDA: PLN 65,242 thousand
     Gross profit: PLN 4,598 thousand

The main impact on the above estimate of the Group’s consolidated EBITDA for the 12-month period ended December 31, 2021 was the results of the companies: Trakcja S.A. (estimated EBITDA for the period of 12 months of 2021 amounted to PLN 28,635 thousand, which was announced by the Company in the current report 4/2022) and of the subsidiary AB Kauno Tiltai (estimated EBITDA for the period of 12 months of 2021 amounted to PLN 26,406 thousand).

The above-presented estimates of the consolidated financial results for the fourth quarter of 2021 were influenced by the sale transaction of the real estate at Oliwska Street in Warsaw for the amount of PLN 25,000 thousand, about which the Company informed in the current report No. 43/2021.

The aforementioned preliminary estimates of financial results have not yet been audited by a chartered auditor.

Furthermore, the above estimates of results do not take into account impairment tests on goodwill and revaluation of assets. In particular, the Group has not yet conducted, i.e. until the day of publication of this report, any impairment tests on goodwill; any impairment write-offs on goodwill have not been recognised in the presented estimated results of the Group. Important factors that can have an impact on estimates on goodwill, on the result of impairment tests on goodwill, include the profitability of performed construction contracts and the adopted discount rate (adopted EBITDA and WACC, which depends on, among others, the level of market interest rates as on December 31, 2021).

Final consolidated financial results of the Group will be presented in a consolidated annual report for the period of 12 months ended on December 31, 2021, which, according to the adopted calendar of publication of periodic reports, is going to be published on March 31, 2022.

Legal grounds:
Article 17 par. 1 of MAR