The Polish state-owned railway operator PKP Cargo continues to post positive figures throughout 2025. For the first nine months of the year, the company under restructuring has increased its operating profits and significantly reduced its net loss.
The operating profit reached 90,8 million złoty (21,4 million euros) while the net loss was 10,4 million złoty (2,4 million euros). These positive developments are a direct consequence of PKP Cargo’s restructuring, led by company president Agnieszka Wasilewska-Semail. “These actions allow us to improve liquidity and focus on the most profitable business segments, such as intermodal transport and specialized cargo handling”, she said.
The company started the year with an operating loss of 48,6 million złoty (11,2 million euros) in the first quarter. This was already a positive step as the operating loss in Q1 2024 was 118,1 million złoty (27,2 million euros). Then, there was a significant leap during the second quarter of 2025, with the company posting an operating profit of 54,7 million złoty (12,8 million euros) at the half-year mark.
PKP Cargo’s path resurgence
The Polish incumbent filed for restructuring proceedings in the summer of 2024 due to an unbearable debt of over one billion euros. This was the culmination of years of mismanagement, a massive loss of market share and the prioritisation of the transport of coal in 2022 at the expense of other more profitable contracts.
The restructuring, which is expected to last well into 2026, comes with thousands of layoffs to balance PKP Cargo’s books. The plan of the new management was to reduce the workforce from over 14,000 to less than 10,000 workers. Some were transferred to other companies, including some within the PKP Group.
Another few spots were cancelled without people actually losing their jobs, as it seems that various employees at PKP Cargo held two or three fake positions. The initial decision was thus to fire 1,041 employees this year and 1,388 in 2026. However, after consultations with the trade unions, ‘only’ up to 500 people were laid off in 2025.