First Quarter Results of the Trakcja Group

The construction order backlog of the Trakcja Group as at 31 March 2018 amounted to PLN 1,958 million, excluding the portion of revenue attributable to consortium partners. In the first quarter of 2018, companies from the Trakcja Group signed construction contracts with a total value of PLN 431 million (excluding the portion of revenue attributable to consortium partners), representing a significant increase of PLN 182 million compared to the first quarter of 2017 (73%). Participation in new tenders in 2018 will allow the Group to secure its contract backlog for future periods to an even greater extent.

During the first quarter of 2018, the Trakcja Group achieved sales revenue of PLN 205.1 million, an increase of 50% compared to the corresponding period of 2017. The gross loss on sales amounted to PLN 8.0 million, and the gross result on sales decreased by PLN 12.3 million compared to the corresponding period of the previous year. The gross margin on sales amounted to -3.9% in the first quarter of 2018, while in the corresponding period of 2017 it reached 3.2%.

The factors with the most significant impact on the level of sales revenue and the results for the first quarter of 2018 were the sales seasonality characteristic of entities operating in the construction industry, which is marked by a considerably lower level of revenue generated in the first quarter of the year and the generation of a significant part of sales revenue in the second half of the calendar year. In addition, during the first quarter of 2018, Trakcja PRKiI was settling contracts obtained in previous years, during a difficult tendering period for the industry, and consequently executed at low profitability. The results for the first quarter of 2018 presented above were also affected by an extraordinary increase in the prices of infrastructure construction materials, subcontracting services, and labour costs.

Trakcja PRKiI is also incurring costs related to the diversification of its business into the professional power engineering sector and its return to the tram segment (urban market). In addition, Trakcja PRKiI continues to prepare its operations for foreign markets, where selected investment programmes extend to 2030. The results achieved by the Group were also affected by a change in the structure of the order backlog of the Lithuanian companies.

Informacje dla mediów

Robert Kuczyński
dyrektor ds. komunikacji
r.kuczynski@grupatrakcja.com