Wednesday, March 16, 2016

PKP-positive. But debt higher than forecast – Railway Market

In 2015. PKP Group profit higher than in the previous year. However, the group’s debt is much higher than that predicted the previous management of the railway company.

Earnings through privatization

The net profit for 2015. Amounted to 222.9 mln zł. Achieved operating income was slightly higher than the revenue of the year 2014. A significant increase in financial income was a result of privatization carried out, among others, PKP Energy. As a result of completed privatization transactions (including TK Telekom, PKP Energetyka, PKP Cargo), the company had liquidity and debt repayment implemented.

debt much larger than forecast

debt at the end of 2015. amounted to 1.76 billion zł – contrary presented by the previous management of information on the net debt of 500 million zł. As explained Cecilia Lachor, Agent of PKP SA Affairs. Financial vital importance here is the concept of “net debt” means debt factual (loans, bonds) less funds held in bank accounts, and those as mentioned above came from the privatization of companies.

the main areas implemented in the last year of tasks related to: improve service and customer satisfaction PKP Group, maintain, repair and modernization of railway stations and other real estate and land development property unnecessary. As reported by Cecilia Lachor in 2016. PKP SA will continue to pay off debt. Repayment is to be fully implemented until 2022. And it is provided that in the coming years the company will not have to take out new loans.

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