39/2019 – Preliminary financial results for the first half of 2019

The Management Board of Trakcja PRKiI S.A. (the ‘Company’) informs that the process of cyclical review of long-term contracts and collecting financial data for the purposes of drawing up the Company’s financial statement and consolidated financial statements of the Trakcja Capital Group (‘Group’) for the six-month period ended June 30, 2019.

Preliminary estimated financial results of the Trakcja Capital Group for the period of 6 months ended on 30 June 2019:

Revenues from sales: 655.422 tys. zł

Gross result on sales: -454 tys. zł

EBITDA: -19.596 tys. zł

Netto result: -35.821 tys. zł

Preliminary estimated financial results of Trakcja PRKiI S.A. for the six months ended June 30, 2019:

Revenues from sales: 423.451 tys. zł

Gross result on sales: 426 tys. zł

EBITDA: -10.867 tys. zł

Netto result: -18.906 tys. zł

Factors that had the most significant impact on the level of gross profit margin on sales in the first half of 2019 of the Group were:

– settlement of low-margin construction contracts obtained in more difficult to offer previous years and before a significant increase in production costs;

– seasonality of sales, which is characterized by a much lower level of revenues in the first half of the year and the generation of a significant part of revenues from sales in the second half of the calendar year.

The Trakcja Group’s construction order portfolio as at June 30, 2019 was PLN 2,351 million (excluding part of revenues attributable to consortium members). In the first half of 2019, companies from the Trakcja Group signed construction contracts with a total value of PLN 468 million (excluding a portion of revenue attributable to consortium members). Participation in new tenders in 2019 will allow the Group to further secure its portfolio of contracts for subsequent periods. 

Due to the preliminary nature of the information and the ongoing review of the financial statements for the first half of 2019, the Company will provide the final calculations in the consolidated semi-annual report for the six months ended June 30, 2019, which, according to the adopted calendar of publication of periodic reports, will be published on September 10, 2019 year. 

Legal basis:

Art. 17.1 MAR