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Estimation of selected financial and operating data of the PKP CARGO Group for H1 2021

The Management Board of PKP CARGO S.A. (“Company”, “Parent Company”) hereby publishes estimated selected consolidated financial and operating results for H1 2021:

– Revenues from contracts with customers: PLN 2,046.0 million;

– EBITDA: PLN 226.8 million;

– EBIT: PLN -128.3 million;

– net result: PLN -130.0 million;

– freight volume: 48.6 million tons.

The key ratios indicating the performance of the loan agreements signed by the Group include the net debt/EBITDA ratio and the total debt ratio.

According to the provisions of most of the agreements signed by the Group, compliance with the terms of the loan agreements is reviewed at the end of each financial year. In the case of three such agreements, the said ratios are reviewed for each half-year period.

Before the balance sheet date of 30 June 2021, the Parent Company obtained from a lender a waiver of the covenant to maintain the net debt/EBITDA ratios calculated on the basis of standalone and consolidated financial data at a level not greater than 3.0. The waiver was contingent on the maintenance of the net debt/EBITDA ratio calculated on the basis of the PKP CARGO Group’s consolidated financial statements as at 30 June 2021 at a level not greater than 3.5. This condition was met as at 30 June 2021 and therefore the liabilities under the loans did not have to be reclassified from the non-current part to the current part.

The foregoing financial highlights are tentative estimates obtained during the preparation of the Group’s consolidated financial statements for H1 2021 and as such are subject to change. The final data on the financial performance along with the auditor’s review report will be presented by the Company in the consolidated semi-annual report to be published on 20 August 2021.

Legal basis:
Article 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council on Market Abuse).