17/07/2023 15:34
31/2023 – Completion of the Periodic Review of Contracts for the First Half of 2023
The Management Board of Trakcja S.A. (“Company”, “Issuer”) announces that today it has completed the periodic review of long-term contracts for the first half of 2023, i.e., from January 1 to June 30, 2023, for the purposes of preparing the Company’s interim financial report for the period ended June 30, 2023. Consequently, the Management Board provides information on its impact on the Company’s financial results for this period.
The periodic review of contracts involved updating their budgets concerning their nature, amounts, timing, and uncertainties related to revenues and cash flows from their execution. During the budget update, an analysis of opportunities and risks was conducted, which identified and accounted for technical, execution, liquidity risks, and those related to contract delays.
In the second quarter of 2023, the total impact of the budget updates on the Company’s gross result was positive, amounting to PLN 2,955 thousand. The main factors that negatively impacted the amount of the update were:
- Higher subcontractor costs;
- Updated assumptions regarding variable revenues.
At the same time, positive impacts on the update amount were:
- Increased contract indexation values;
- Commencement of new contracts.
Preliminary financial estimates will be communicated to the public after the completion of data collection and preliminary closing of the accounts, taking into account the merger process of the Company with its subsidiary BTW sp. z o.o. (as reported in current reports 27/2023 and 29/2023).
The final financial results of the Company and the Group will be provided in the consolidated report for the period ended June 30, 2023, which, according to the adopted reporting calendar, will be published on September 27, 2023.
Legal Basis: Article 17(1) MAR
