Estimation of selected financial and operating data of the PKP CARGO Group for 1H 2024

The Management Board of PKP CARGO S.A. in restructuring (“Company”) hereby publishes preliminary estimated consolidated financial and operating highlights for 1H 2024:

– revenues from contracts with customers: PLN 2,300.5 million;
– EBITDA: PLN 237.0 million;
– EBIT: PLN -463.2 million;
– net result: PLN -453.1 million;
– freight volume: 35.0 million tons;
– freight turnover 9,116 million tkm.

The financial results achieved by the PKP CARGO Group in the first half of 2024 were significantly influenced by the results of asset impairment tests of PKP CARGO and PKP CARGOTABOR Sp. z o.o. in restructuring (“PKP CARGOTABOR”) conducted as at 30 June 2024. The main indications of a possible impairment of the assets of both companies were the lower than expected financial results achieved in the first half of 2024, which resulted in a significant deterioration of their liquidity situation. The results of the tests indicate an impairment of fixed assets of PKP CARGO in the amount of PLN 179.3 million and PKP CARGOTABOR in the amount of PLN 74.6 million.

The write-offs made are of a non-cash nature.

The presented financial results constitute preliminary estimates obtained during the preparation of the consolidated financial statements for the first half of 2024 and may be subject to change. The Company will present the final data on the achieved results in the consolidated periodic report for the first half of 2024, which will be published on September 30, 2024.