44/2021 Preliminary estimated financial performance of Trakcja S.A. and the Trakcja Group for the third quarter of 2021 and for the 9-month period ending on September 30, 2021
The Management Board of Trakcja S.A. (the „Company”) informs that on October 22, 2021 marks the completion of the cyclical review process of long-term contracts and collection of financial data for the purposes of preparing the Company’s unit financial statements, and consolidated financial statements of the Trakcja Group (the “Group”) for the third quarter of 2021, that is, from July 1, 2021 to September 30, 2021 and for the 9-month period ending on September 30, 2021. Accordingly, the Company is providing the general public with the following information:
Preliminary estimated financial results of the Trakcja Group for the third quarter of 2021
Revenue on sales: PLN 436,465 thousand
Gross result from sales: PLN 37,057 thousand
EBITDA: PLN 28,987 thousand
Net result: PLN 7,296 thousand
Preliminary estimated financial results of the Trakcja Group for the 9-month period ending on September 30, 2021:
Revenue on sales: PLN 970,438 thousand
Gross result from sales: PLN 28,387 thousand
EBITDA: PLN 13,383 thousand
Net result: PLN -30,367 thousand
Preliminary estimated financial results of Trakcja S.A. for the third quarter of 2021
Revenue on sales: PLN 225,686 thousand
Gross result from sales: PLN 17,923 thousand
EBITDA: PLN 13,231 thousand
Net result: PLN -1,381 thousand
Preliminary estimated financial results of Trakcja S.A. for the 9-month period ending on September 30, 2021:
Revenue on sales: PLN 543,037 thousand
Gross result from sales: PLN 7,351 thousand
EBITDA: PLN -350 thousand
Net result: PLN - 27,789 thousand
The most important impact on the performance of Trakcja Group during the third quarter of 2021 were the results of Trakcja S.A. and AB Kauno Tiltai.
The factors which had the greatest impact on the level of the gross profit margin on sales at Trakcja S.A. during the third quarter of 2021 were the following:
- increase of the scope of work within the framework of selected contracts, which had a positive impact on the improvement of the margin, by including additional revenues within the budgets of these contracts,
- taking into account within the framework of budgets of selected contracts - of additional revenues which follow from the indexation of contracts due to the increase of price indices contained in the contracts;
- technical optimization of some projects, which involved a modification of technologies approved by the Contracting Institutions, and accordingly had an impact on the crease of budgeted contractual expenses;
- organizational optimization resulting in the increase of efficiency within the framework of selected contracts
As a result of the completed cyclical review of contracts, their budgets have been updated in terms of their nature, amounts, distribution in time and uncertainty as to revenues and cash flows which follow from their performance. During the course of budget updating, an opportunities and hazards analysis has been conducted, within the framework of which the following risks have been identified and taken into account: technical risks, implementation risks and liquidity risks, and risks associated with protracted contract completion.
During the third quarter of 2021, the impact of budget updating of contracts carries a positive result for the Company, amounting to PLN 12,726 thousand.
The foregoing performance results not take into account tests for impairment of the value of assets and revaluation of assets.
As this information is of a preliminary nature, the final calculations and any modifications in the level of the impact of the above-disclosed factors on the performance of 9 months of 2021 shall be provided in the Company’s report for the 9-month period ending on September 30, 2021, which, in accordance with the accepted report publishing calendar, shall be published on November 24, 2021.
Legal basis:
Article 17 (1) MAR
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