53/2022 – Information concerning the Management Board’s decision on the adjustment of the calculated valorisation value in the budgets of specific contracts as at 30.06.2022

The Management Board of Trakcja S.A. (the “Company”) hereby informs that on 5 August 2022 it has taken a decision concerning the modification of accepted estimates as at 30 June 2022 of valorisation values in the budgets of specific contracts being performed for PKP PLK. The estimated impact of the foregoing decision for the unit and consolidated gross result on sales for the first 6 months is negative and amounts to PLN 37.6 million.

Additionally, we wish to inform that the Company is in the midst of a cyclical process of updating the budgets of implemented construction contracts in terms of the nature, amounts, timing and uncertainty as to revenue and cash flows which follow from their implementation and collection of the Company’s financial data.

Preliminary estimates of the Company’s and Group’s financial performance for the first 6 months of 2022 shall be provided in separate current reports upon completion of the closure process of books of account for the period in question, including the process of reviewing long-term contracts and collection of the Company’s and Group companies’ financial data. In accordance with the accepted calendar of publishing periodical reports, the final performance results of the Company and Group for the first six months of 2022 shall be published on 14 September 2022.

Legal basis:
Article 17 (1) MAR