Pkp Cargo Spolka Akcyjna · GPW:PKP
Pkp Cargo Spolka Akcyjna — PKP Cargo — 9M 2018 Earnings Presentation
23 slides from Pkp Cargo Spolka Akcyjna's earnings presentation, November 2018
Slide 1: PKP CARGO Group 9M 2018
PKP GROUP CARGO 9M 2018 strengthening its leading market position pkpcargo.com
Slide 2: Agenda
AGENDA Recap of the interim results Commercial results Financial performance Apendix PKP CARGO GROUP 9M2018 2
Slide 3: Recap of the Q3 results
RECAP OF THE Q3 RESULTS PKP CARGO GROUP 9M2018 3
Slide 4: PKP CARGO Group's 9M 2018 results
PKP CARGO GROUP’S 9M 2018 results REVENUE EBITDA NET RESULT 18% profitability 5% profitability PLN 3,839 m PLN 702 m PLN 194 m + 11% yoy + 32% yoy +275% yoy PKP CARGO GROUP 9M2018 4
Slide 5: Commercial results
COMMERCIAL RESULTS PKP CARGO GROUP 9M2018 5
Slide 6: Demand for aggregates and construction materials made the strongest contribution to transport growth
THE DEMAND FOR AGGREGATES AND CONSTRUCTION MATERIALS MADE THE STRONGEST CONTRIBUTION TO TRANSPORT GROWTH FREIGHT VOLUME IN THE PKP CARGO GROUP +3.0% million tons Hard coal 88.1 90.7 83.6 83.9 Aggregates 80.9 80.9 and construction materials 38.1 -1,1% 38.5 40.2 37.1 40.7 39.2 Metals and ores 15.9 19.
Slide 7: Financial performance
FINANCIAL PERFORMANCE PKP CARGO GROUP 9M2018 7
Slide 8: Highest operating revenue since 2013
IN 9M 2018 THE PKP CARGO GROUP GENERATED THE HIGHEST OPERATING REVENUE SINCE 2013 THE PKP CARGO GROUP’S OPERATING REVENUE IN 2013-2018 PLN billion +11% 3.84 3.52 3.46 3.17 3.28 3.21 1.33 Q3 1.23 1.19 1.07 1.21 1.09 1.24 1.17 1.29 Q2 1.06 1.17 1.09 1.05 1.04 1.03 1.10 1.22 0.90 Q1 9M 2013 9M 2014 9M
Slide 9: Highest EBITDA since going public
THE PKP CARGO GROUP POSTED ITS HIGHEST EBITDA SINCE GOING PUBLIC THE PKP CARGO GROUP’S EBITDA IN 9M 2013-2018 PLN million +32% 702 611 554 532 279 Q3 219 203 199 297 Q2 284 222 191 257 186 206 154 49 200 106 159 135 81 147 Q1 -15 H1 2013 9M 2013 H12014 9M 2014 H1 2015 9M 2015 H1 2016 9M 2016 H1 2017
Slide 10: Net result saw 275% growth versus 9M 2017
IN 9M 2018 THE NET RESULT SAW 275% GROWTH VERSUS 9M 2017 THE PKP CARGO GROUP’S NET RESULT IN 9M 2013-2018 PLN million +275% 227 227 194 99 64 Q3 105 71 140 52 54 Q2 75 1 58 22 -6 21 32 36 Q1 -82 -1 -129 -5 -66 -201 9M 2013 9M 2014 9M 2015 9M 2016 9M 2017 9M 2018 H1 2013 H1 2014 H1 2015 H1 2016 H1 20
Slide 11: Costs under control despite pay raises and impairment loss
COSTS CONTINUE TO BE UNDER CONTROL DESPITE PAY RAISES AND THE IMPAIRMENT LOSS TAKEN ON ROLLING STOCK THE PKP CARGO GROUP’S OPERATING EXPENSES PLN billion +6.1% Depreciation and amortization Impairment loss for rolling stock totaling PLN 18.0 million for optimization in the AWT Group 3.56 3.40 3.36 0
Slide 12: Revenue grew twice as fast as costs
REVENUE GREW TWICE AS FAST AS COSTS THANKS TO RAISING FREIGHT RATES, AMONG OTHERS PKP CARGO GROUP’S UNIT REVENUE THE PKP CARGO GROUP’S UNIT COSTS PLN / thousand tkm PLN / thousand tkm +9.3% +4.6% 165 151 153 146 Freight revenue 39 +7.5% Payroll 36 Other revenue from sales 19 21 +10.7% of services an
Slide 13: Ratios improved as debt fell
RATIOS IMPROVED AS DEBT FELL CASH FLOW FUNDING SOURCES PLN million 30.09.2018 9M 2017 9M 2018 Change On operating Cash* 666 458 606 +148 activity On investing EIB 70 -607 -622 -15 activity Pekao SA 100 On financing -219 -240 -21 activity PKO BP 1 Total funding 837 FINANCIAL RATIOS FINANCIAL DEBT STR
Slide 14: Enhancing freight potential underpinned by higher capital expenditures
ENHANCING FREIGHT POTENTIAL UNDERPINNED BY HIGHER CAPITAL EXPENDITURES CAPITAL EXPENDITURES KEY INVESTMENTS IN 2018 PLN million +51% Rolling stock investments 476.8 The PKP CARGO Group is poised to handle the transport peak in 2018 and subsequent years 332.1 +46% 441.5 Rolling stock 303.0 Other +21%
Slide 15: Attachments
ATTACHMENTS PKP CARGO GROUP 9M2018 18
Slide 16: Freight results
FREIGHT RESULTS FREIGHT TURNOVER 9M 2017 9M 2018 Change % change % in 9M 2017 % in 9M 2018 Solid fuels 8 592 8 043 -549 -6,4% 37% 35% including hard coal 7 566 6 876 -689 -9,1% 33% 30% Aggregates and construction 4 238 5 425 1 187 28,0% 18% 23% materials Metals and ores 3 017 2 801 -216 -7,2% 13% 12
Slide 17: Consolidated statement of comprehensive income
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME STATEMENT OF COMPREHENSIVE INCOME [PLN million] 9M 2017 9M 2018 Change Revenue from sales of services 3 403,9 3 765,0 361,0 Revenue from sales of goods and materials 29,3 40,2 10,9 Other operating revenue 26,5 34,1 7,6 Total operating income 3 459,7 3 8
Slide 18: Consolidated statement of financial position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION ASSETS [PLN million] As at 30 Sep 2018 As at 31 Dec 2017 Property, plant and equipment 4 688,0 4 733,7 Intangible assets 43,9 33,0 Investment property 1,2 1,2 Investments in entities accounted for under the equity method 53,6 51,4 Trade and other receivab
Slide 19: Consolidated statement of financial position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION EQUITY AND LIABILITIES [PLN million] As at 30 Jun 2018 As at 31 Dec 2017 Share capital 2 239,3 2 239,3 Supplementary capital 619,3 628,2 Other items of equity 4,9 -26,3 Exchange differences resulting from conversion of financial statements of foreign oper
Slide 20: Consolidated cash flow statement
CONSOLIDATED CASH FLOW STATEMENT Cash flow from operating activities [PLN million] 9M 2018 9M 2017 Gross result for the financial year 74,2 245,2 Adjustments: Depreciation of property, plant and equipment and amortization of intangible assets 428,7 407,9 Impairment of non-current assets 0,2 18,0 (Pr
Slide 21: Consolidated cash flow statement
CONSOLIDATED CASH FLOW STATEMENT Cash flow from investing activities [PLN million] 9M 2018 9M 2017 Expenditures to acquire property, plant and equipment and intangible assets -367,9 -509,5 Proceeds on the transfer of property, plant and equipment, intangible assets and non-current assets held for sa
Slide 22: Legal disclaimer
LEGAL DISCLAIMER This presentation has been prepared by PKP CARGO S.A. All the data set forth in this presentation are based on sources the (“Company”, “PKP CARGO”) solely for information purposes. Company deems to be exact and credible; however, the This presentation may not be copied, distributed
Slide 23: Investor relations contact
To obtain additional information about PKP CARGO, please contact the Promotion and Investor Relations Department: PKP CARGO S.A. Promotion and Investor Relations Department ul. Grójecka 17 02-021 Warsaw Telephone: +48 22 391-47-09 Fax: +48 22 474-29-53 E-mail: relacje.inwestorskie@pkp-cargo.eu pkpca