As investments related to EURO 2012, which caused record transport volumes of aggregates and building materials in 2011, are coming to an end, rail freight transport has declined this year. Despite this, after the first three quarters of 2012, PKP CARGO’s net profit amounted to PLN 205 million, which is more than the plan assumed, and in October, for the first time this year, transport volumes increased compared to the same month in 2011.
This is the best proof that PKP CARGO, following its restructuring, is able to react much more flexibly to changing market conditions and adapt its resources to needs – unlike the crisis at the turn of 2008 and 2009, when a drop in transport volumes of nearly 40 percent led to a collapse of the company’s finances.
In the period from January to September 2012, PKP CARGO transported 86.1 million tons of cargo compared to 98.8 million tons a year earlier. The most noticeable changes occurred in the market for the transport of aggregates and other building materials, but the previous year was absolutely record-breaking in this group of goods due to huge infrastructure investments related to preparations for EURO 2012. In total, out of the more than 12 million tons difference in transport volumes after the first three quarters of 2012 and 2011, over 9 million tons were accounted for by aggregates and building materials. However, as early as October, transport volumes were higher than in the same month of 2011 for the first time this year.
In some commodity groups, transport volumes after the first three quarters of this year were higher than a year ago. Intermodal transport continues to develop very dynamically, increasing by 32.5 percent to 3.8 million tons. As a result, its share in PKP CARGO’s total transport increased from 2.9 percent to 4.4 percent. In addition, the transport of ores and pyrites (to nearly 3 million tons) and crude oil and fuels (to 2.7 million tons) also increased slightly.
A comparison of PKP CARGO‘s transport results broken down by quarter shows that the situation has been systematically improving this year. In the first quarter of the year, the company transported 27.3 million tons of cargo, in the second quarter it was already 28.3 million tons. The third quarter closed with transport volumes at the level of 30.5 million tons. The October results bode well for the entire fourth quarter, and there is a good chance that the upward trend will be maintained.
PKP CARGO generated over PLN 205 million in net profit in the first three quarters of 2012, which is 15.6 percent more than a year ago (PLN 177.6 million) and over 10 percent more than the plan assumed (PLN 186 million), even though it was calculated for higher transport volumes and, consequently, sales revenues. PKP CARGO’s revenues after the first three quarters of the year amounted to PLN 3.39 billion, compared to 3.79 billion in the same period of the previous year.