17/2017- Preliminary financial results for the 3rd quarter of 2017
The Management Board of Trakcja PRKiI S.A. (the “Company”) informs that the process of collecting financial data for the purposes of drawing up the Company’s financial statement and Trakcja Capital Group’s consolidated financial statement for the period of 9 months ended on 30 September 2017, was completed on 27 October 2017. Therefore, the Company publishes the preliminary financial results for this period:
The preliminary financial results of Trakcja Capital Group for a period of 9 months ended on 30 September 2017:
Sales revenues: PLN 949,756 thousand
Gross profit on sales: PLN 51,386 thousand
Net profit: PLN 8,262 thousand
The preliminary financial results of Trakcja Capital Group for the 3rd quarter of 2017:
Sales revenues: PLN 412,108 thousand
Gross profit on sales: PLN 21,738 thousand
Net profit: PLN 7,175 thousand
The preliminary financial results of Trakcja PRKiI S.A. for a period of 9 months ended on 30 September 2017:
Sales revenues: PLN 553,768 thousand
Gross profit on sales: PLN 21,146 thousand
Net profit: PLN 22,962 thousand
The preliminary financial results of Trakcja PRKiI S.A. for the 3rd quarter of 2017:
Sales revenues: PLN 231,761 thousand
Gross profit on sales: PLN 4,366 thousand*
Net loss: -PLN 541 thousand
*including reversal of operating provisions and reversal of write downs to receivables in a total amount of + PLN 6,837 thousand and disclosed losses on contracts in the 3rd quarter in the amount of – PLN 7,541 thousand (mainly refers to: one contract in the energy works segment and one contract in the railway segment).
In the period 01.01.2017 – 30.09.2017 Trakcja Capital Group signed construction contracts of a total value above PLN 1.7 billion net. At the end of September, the portfolio of construction contracts amounted to approximately PLN 2.0 billion net, which constitutes an increase by approximately 45% with regard to the portfolio of construction contracts at the end of September 2016. In an analogous period of the year 2016, Trakcja Capital Group signed construction contracts of a total value of approximately PLN 0.5 billion net. The above data are presented with an exclusion of a part of revenues attributable to consortium members and do not cover the most beneficial offers expected to be signed.
Factors that had the most important impact on the Company’s results in the 3rd quarter of 2017 mainly comprised worsening conditions of conducting business activity in the construction and installation sector. In particular, it concerns an increase in the prices of materials, subcontracting services and costs of remunerations. Furthermore, the Company incurs costs related with the diversification of activity in the energy works market and preparing the activity in foreign markets.
Therefore, under a seasonal review of long-term contracts ended on 27 October 2017, planned margins were revaluated until the end of contracts’ binding periods, with a consideration of forecasted changes in the scope of manufacturing costs. Margins’ revaluation until the end of all contracts’ binding periods is reflected in the Company’s financial result in the third quarter of current year, which resulted in assessing a unit net result of the 3rd quarter at approximately - PLN 0.5 million.
Due to the preliminary character of the information, final calculations and possible changes in the impact level of the aforementioned factors on the results of the 3rd quarter of current year shall be forwarded by the Company in a consolidated quarterly report for a period of 9 months ended on 30 September 2017, which, in compliance with adopted calendar of publishing periodic reports, shall be published on 14 November 2017.
Legal grounds:
Article 17 of MAR
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