{"id":152989,"date":"2024-11-29T19:07:14","date_gmt":"2024-11-29T09:07:14","guid":{"rendered":"https:\/\/www.railfreight.com\/?p=58248"},"modified":"2024-11-29T19:07:14","modified_gmt":"2024-11-29T09:07:14","slug":"pkp-cargo-incurs-1716-million-euro-loss-in-first-three-quarters-of-2024","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=152989","title":{"rendered":"PKP Cargo incurs 171,6 million euro loss in first three quarters of 2024"},"content":{"rendered":"

Poland\u2019s national rail freight operator, PKP Cargo, has recorded a net loss of 738,7 million Polish zloty (171,6 million euros) throughout the first nine months of 2024. The company is currently in restructuring after it got into serious financial trouble, and stated earlier that positive financial developments can only be expected from November onwards.<\/strong>
\n<\/span>Last week, PKP Cargo estimated a net loss of approximately 795 million zloty (184,7 million euros), which means that the official results are slightly better than expected. Nearly half of the net loss throughout the first nine months took place in the third quarter, when the company lost 336 million zloty (78 million euros).<\/p>\n

Customer contracts provided the company a revenue of 2,58 billion zloty (600 million euros) between January and October, down from 3,2 billion last year. In the third quarter, this number amounted to 815 million zloty (189,3 million euros), compared to 988 million during the same period of 2023. The company\u2019s EBIT was recorded at negative 729,9 million zloty (169,6 million euros), of which 322,9 was incurred during the third quarter.<\/p>\n

One-off events<\/h2>\n

According to the rail operator, its third quarterly results were impacted by a number of one-off events related to the restructuring proceedings. For example, the company created a restructuring reserve of 149,1 million zloty (34,6 million euros) for severance payments and other layoff compensation.<\/p>\n