Pkp Cargo Spolka Akcyjna · GPW:PKP
Pkp Cargo Spolka Akcyjna — PKP Cargo — FY2025 Earnings Presentation
21 slides from Pkp Cargo Spolka Akcyjna's earnings presentation, May 12, 2026
Slide 1: Financial and Operating Results of the PKP CARGO S.A. Capital Group for 2025
Financial and Operating Results of the PKP CARGO S.A. Capital Group under restructuring for 2025 Warsaw, May 12, 2026
Slide 2: Agenda
Agenda Key Indicators Operating Results Financial Results Restructuring Process Whenever the presentation refers to: • the Company, PKP CARGO, or PKP CARGO S.A., this should be understood to mean PKP CARGO S.A. in restructuring, • the PKP CARGO Capital Group, the Group, the PKP CARGO Group, or the C
Slide 3: Financial Results of the PKP CARGO S.A. Capital Group for 2025
Financial Results of the PKP CARGO S.A. Capital Group for 2025 Operating revenue Net income (including revenue from customer contracts) Capital expenditures Assets (CAPEX) 15,1% +102% r/r r/r 3,875.0 mln PLN 39.4 mln PLN -2,9% 28,1% r/r r/r 6,252.2 mln PLN 424.2 mln PLN Operating costs EBITDA Freigh
Slide 4: Employment at the PKP CARGO Group
Employment at the PKP CARGO Group The most significant changes regarding employment 20 562 20 038 19 933 The PKP CARGO Group’s workforce decreased by 1,776 employees. This is the result of collective layoffs, structural 14 734 and organizational changes (single employer), and natural attrition witho
Slide 5: Agenda
Agenda Key Indicators Operating Restults Financial Results Restructuring Process
Slide 6: Selected freight categories within the PKP CARGO Group in 2025
Selected freight categories within the PKP CARGO Group in 2025 SOLID FUELS 5.2% year-over-year decline in freight volume by weight Hard coal’s share of PKP CARGO Group freight volume – 43.5% AGGREGATES AND CONSTRUCTION MATERIALS 19.5% year-over-year decline in freight volume by weight Share of aggre
Slide 7: PKP CARGO Capital Group's Freight Volume for 2025
PKP CARGO Capital Group's Freight Volume for 2025 freight tonnage, billion tkm cargo volume, million tons 18.0 70.8 0.5 1.5 16.7 1.5 65.7 0.6 6.0 2.6 Others 1.9 1.9 2.1 2.1 2.3 6.7 0.8 2.8 Intermodal transport 5.2 1.9 0.6 1.2 1.7 0.6 4.5 4.2 0.4 Timber and agricultural products 1.5 5.3 1.2 Liquid fu
Slide 8: Agenda
Agenda Key Indicators Operating Results Financial Results Restructuring Process
Slide 9: Selected financial data for the PKP CARGO Group for 2025
Selected financial data for the PKP CARGO Group for 2025 EBIT for 2025 is higher than in 2024. This was achieved despite lower revenue through systematic cost control Operating expenses Revenue from EBIT (excluding other operating expenses) customer contracts -674 -3.117 (-15%) (-46%) 4.460 6.749 3.
Slide 10: Selected financial data for the PKP CARGO Group for 2025
Selected financial data for the PKP CARGO Group for 2025 Quarter-over-quarter data confirm the positive trend—the decline in revenue is slowing, and costs are being reduced at a faster pace Revenue from contracts with customers Operating expenses (excluding other operating expenses) -68% -44% 2.994
Slide 11: Selected financial data for the PKP CARGO Group for 2025
Selected financial data for the PKP CARGO Group for 2025 A positive trend in EBIT, EBITDA, and net income EBIT EBITDA Net income +110 (+36%) 410 +2.864 +2.452 (+106%) (+102%) 300 173 39 mln PLN mln PLN mln PLN 2024 2025 2024 2025 2024 2025 -2.691 -2.413 For the sake of clarity, the data has been rou
Slide 12: Breakdown of operating costs for the PKP CARGO Group for 2025
Breakdown of operating costs for the PKP CARGO Group for 2025 -3.510 (-49%) 7.211 Year-over-year decline in all operating costs 462 308 2.991 3.701 70 -85% Other operating expenses 271 -12% Other costs 629 236 -92% Depreciation and impairment charges 612 -3% Transportation services and other service
Slide 13: PKP CARGO Capital Group's Investments and Divestments for 2025
PKP CARGO Capital Group’s Investments and Divestments for 2025 167 (-28%) Reducing capital expenditures while divesting non-core assets 590 27 155 424 23 -15% Others Divestitures 65 -58% Rights to use assets +813% 137 295 -35% 192 Expenditures on railcars 144 +27% Expenditures on locomotives 15 113
Slide 14: The PKP CARGO Capital Group's rolling stock structure in 2025
The PKP CARGO Capital Group’s rolling stock structure in 2025 Railcars Locomotives 46.221 1.566 A decrease in the number of railcars in use within -5.818 the Group in 2025 resulting from the sale of railcars withdrawn from operational use and off- 52.039 balance-sheet transfers 46.221 Increase in th
Slide 15: Cash flows and balance sheet structure of the Capital Group for 2025
Cash flows and balance sheet structure of the Capital Group for 2025 A stable asset and financing structure Balance sheet structure (in millions of PLN) 31.12.2024 31.12.2025 Non-current assets 4 996 4 912 Current assets 1 443 1 226 Non-current assets classified as held for sale 0,3 114 Equity 746 7
Slide 16: Agenda
Agenda Key Indicators Operating Results Financial Results Restructuring Process
Slide 17: Restructuring - Milestones
Restructuring - Milestones Approval of the suomusonat ~ \ adoption ett Final approval Implementation mission Restructuring Plan by joptionof the ithe filing me preliminary the Recewving luge Submission of New CBA Cost optimization ‘atangement by the Roteoment by of the Agreement, Restructuring Plan
Slide 18: Restructuring process
Propozycje Układowe Restructuring process Restructuring process Final text The court's Finalization of the Creditors' vote assessment Agreement Work on the final text June 30, 2025 – of the Arrangement submission of Proposals preliminary March 18, 2026 - May 22, 2026 – Required majority: Arrangement
Slide 19: Restructuring Strategy for 2025–2031
Restructuring Strategy for 2025–2031 On April 28, 2026, PKP CARGO adopted the “Restructuring Strategy of the PKP CARGO Capital Group for 2025–2031” RESTRUCTURING STRATEGY Expansion of intermodal and Improving IT systems for resource operator services management and customer relationship management,
Slide 20: Restructuring Strategy for 2025–2031
Restructuring Strategy for 2025–2031 Improving the Establishment of a PMO Workforce optimization Improving Sales Asset International Restructuring of the Information to oversee in the operational effectiveness of promotion optimization expansion Capital Group Management the implementation administra
Slide 21: Thank you for your attention
Thank you for your attention For further information, please contact the Management, Promotion, and Investor Relations Office PKP CARGO S.A. under restructuring 17 Grójecka St. 02-021 Warsaw Email: relacje.inwestorskie@pkpcargo.com