Slide 1: Summary of the year 2023 in the TORPOL Group
Conference of the Management Board of TORPOL S.A. Summary of the year 2023 in the TORPOL Group 25 March 2024
Slide 2: Disclaimer
This presentation (Presentation) is to provide information on the company Torpol S.A. with its office in Poznań (the Company) and TORPOL Capital Group (Torpol Group). This Presentation is for information purposes only and does not constitute or contain an offer to sell or invitation to subscribe for
Slide 3: Agenda
Agenda torpo) TORPOL Group key data for 2023 4 Financial results 10 Backlog of orders 13 Investment plan for 2024 14 TORPOL OIL & GAS 15 Challenges, current objectives and prospects 16 Appendices V7 www.torpol.pl
Slide 4: TORPOL Group key data for 2023
1092.2 MN PLN NET SALES REVENUE (+0,7% yoy) a 138.0 MN PLN GROSS PROFIT. ON SALES (28 Fa OY) ae x: 2443.1 MN PLN BACKLOG (NET) ¢+148,2% yoy) ail 113.8 MN PLN PROFIT ON SALES MAES. yoy) a 1387 MN PLN EBITDA (4S eye, ail VAN 3.9 MN PLN OPERATING PROFIT (48, Ge — 516.0 MN PLN in CASH (+4,0% ytd) ‘Gaal
Slide 5: The company maintains a stable financial position
The company maintains a stable financial position. Despite the y-o-y decline profitability ratios remain strong: the gross profit margin was 14.5%, the EBITDA margin 12.7% and the net margin 9.3%. All financial covenants are maintained as required by the Group's financing agreements. The Group has c
Slide 6: KPK programme for Polish railway investment
The KPK is the basic and most important programme for the Polish railway and includes investment outlays in the period 2024-2030 totalling approximately PLN 94.7 billion, including almost PLN 17 billion for 2024. The planned co-financing from EU funds in this period (2024-2030) is more than PLN 61.1
Slide 7: PKP PLK selected consortium bid for Katowice section
On 9 January 2024, PKP PLK selected the bid submitted by the consortium of which the Company is the leader as part of the proceedings for the section "Katowice Szopienice Płd. - Katowice - Katowice Piotrowice (...)". The price of the offer submitted by the consortium including Intop Warszawa sp. z o
Slide 8: Contracts signed in 2023
• 11 April 2023 "Modernisation of railway infrastructure" for PMT Linie Kolejowe Sp. z o.o. (KGHM Group) with a net value of PLN 234.7 million, of which the Company has a net value of PLN 176.2 million. • 11 May 2023 "Construction of the New Podłęże - Szczyrzyc - Tymbark/Mszana Dolna railway line an
Slide 9: CPK acquires TFS shareholding (38%)
On 24 January 2023, CPK and Towarzystwo Finansowe Silesia sp. z o.o. (TFS) entered into a preliminary agreement to sell all shares in the Company held by TFS, representing 38% of the total voting rights in the Company. On 5 April 2023, the Company received notification from TFS regarding the disposa
Slide 10: Consolidated income statement
Consolidated income statement ▪ The Group achieved net sales revenue at a comparable Data in PLN thousand Y2023 Y2022 Change in %/pp level to 2022. Gross sales profit in 2023 amounted to PLN 158 million, a decrease of 39.1% year-on-year. This is a Sales revenue 1 092 204 1 084 818 +0,7% result of a
Slide 11: Consolidated balance sheet
Consolidated balance sheet Data in PLN thousand 31/12/2023 31/12/2022 Change in %/pp ▪ At the end of 2023, the Group's total assets reached PLN 1,135 million (up 16% year-on-year), mainly due to the settlement of a Balance sheet total 1 134 985 978 486 +16,0% significant part of the order book and t
Slide 12: Cash flows from operating, investing and financing activities
Cash flows from operating, investing and financing activities Data in PLN thousand Y2023 Y2022 Change ▪ At the end of 2023, the balance of operating cash flow was positive at PLN 47 million, mainly due to the amount of profit earned by the Net cash flows from operating activity 46 964 175 179 -128 2
Slide 13: Backlog (net value)
BACKLOG (NET VALUE) 2023 2024 2025 2026 20.3 MN PLN DK 61 Legionowo – Zegrze Pd. 29 MN PLN Zaleskie Łęgi Szczecin 139.3 MN PLN Stacja Olsztyn Główny 31.7 MN PLN Budowa dworca kolejowego Olsztyn Gł. 16.8 MN PLN Wrocław tramwaj ul. Pomorska 47.9 MN PLN Rozbudowa KRNiGZ Lubiatów 159.4 MN PLN Modern. In
Slide 14: The investment plan for 2024
The investment plan for 2024 The Group implemented the investment plan for 2023 (PLN 31.6 MN). The most significant investments implemented in 2023 included the acquisition of specialised machinery and equipment (e.g. a ballast profiling machine, cone crusher, two-road vehicles for catenary works) i
Slide 15: TORPOL OIL & GAS (TOG)
TOG carries out orders mainly for Grupa ORLEN S.A., but also for Grupa Azoty Zakłady Azotowe Kędzierzyn S.A., and Gas Transmission Operator (OGP) GAZ-SYSTEM S.A. The TOG subsidiary in 2023 submitted 29 offers (compared to 53 offers in 2022)with a total potential net value of PLN 225.4 million, of wh
Slide 16: Challenges, current objectives and prospects
• Maintaining the Group's stable financial and liquidity position, above all in the form of a safety buffer to allow for the smooth operation in the market in the difficult year of 2024, as well as for the planned intensification of construction works, including large-scale and financially demanding
Slide 17: Appendices
APPENDICES
Slide 18: Financial ratios
2,22 1,85 1,40 1,23 0,58 0,55 0,42 0,45 0,46 0,46 0,12 0,09 -1,63 -3,12 equity to assets ratio equity to fixed assets debt ratio equity indebtedness short-term long-term net financial debt to ratio indebtedness indebtedness EBIDTA 31.12.2022 31.12.2023 18 | www.torpol.pl
Slide 19: Profitability indicators
52,55% 23,90% 22,57% 22,26% 20,38% 20,33% 18,98% 16,95% 14,47% 12,70% 10,42% 10,43% 9,65% 9,34% Gross sales margin Profit margin on EBIDTA margin EBIT margin Net margin ROA ROE sales 31.12.2022 31.12.2023 The decrease in the individual profitability indicators is a consequence of the change in the s
Slide 20: Consolidated income statement (PLN thousand)
Data in PLN thousand Y2023 Structure % Y2022 Structure % Change Change in % Sales of services 1 091 805 100,0% 1 082 481 99,8% 9 324 0,9% Revenues from sales of goods and products 399 0,0% 2 337 0,2% -1 938 -82,9% Sales revenues 1 092 204 100,0% 1 084 818 100,0% 7 386 0,7% Cost of goods sold 934 200
Slide 21: Consolidated assets
Data in PLN thousand 31/12/2023 Structure % 31/12/2022 Structure % Change Change in % Fixed assets 228 982 20,2% 220 548 22,5% 8 434 3,8% Tangible fixed assets 111 956 9,9% 97 450 10,0% 14 506 14,9% Right-of-use assets 60 588 5,3% 70 337 7,2% -9 749 -13,9% Goodwill 9 008 0,8% 9 008 0,9% 0 0,0% Intan
Slide 22: Consolidated equity and liabilities
Data in PLN thousand 31/12/2023 Structure % 31/12/2022 Structure % Change Change in % Equity 509 152 44,9% 407 518 41,6% 101 634 24,9% Share capital 4 594 0,4% 4 594 0,5% 0 0,0% Other reserve capital 345 078 30,4% 162 333 16,6% 182 745 112,6% Share premium 54 617 4,8% 54 617 5,6% 0 0,0% Retained ear
Slide 23: Consolidated cash flow statement
in PLN thousand Y2023 Y2022 Change in PLN thousand Y2023 Y2022 Change Cash flows from investing activities Cash flows from operating activity Sale of fixed tangible assets and intangibles 669 755 -86 Gross profit/loss 129 171 231 502 -102 331 Adjustments by items: -82 207 -56 323 -25 884 Purchase of
Slide 24: Torpol S.A. income statement
Data in PLN thousand Y2023 Structure % Y2022 Structure % Change Change in % Sales of services 903 825 100,0% 992 868 99,8% -89 043 -9,0% Revenues from sales of goods and products 393 0,0% 1 740 0,2% -1 347 -77,4% Sales revenues 904 218 100,0% 994 608 100,0% -90 390 -9,1% Cost of goods sold 761 311 8
Slide 25: Torpol S.A. assets
Data in PLN thousand 31/12/2023 Structure % 31/12/2022 Structure % Change Change in % Fixed assets 229 192 21,2% 221 820 25,4% 7 372 3,3% Tangible fixed assets 109 511 10,1% 95 918 11,0% 13 593 14,2% Right-of-use assets 59 463 5,5% 68 685 7,9% -9 222 -13,4% Goodwill 9 008 0,8% 9 008 1,0% 0 0,0% Inta
Slide 26: Torpol S.A. equity and liabilities
Data in PLN thousand 31/12/2023 Structure % 31/12/2022 Structure % Change Change in % Equity 505 969 46,9% 409 704 46,9% 96 265 23,5% Share capital 4 594 0,4% 4 594 0,5% 0 0,0% Other reserve capital 344 983 32,0% 162 333 18,6% 182 650 112,5% Share premium 54 617 5,1% 54 617 6,3% 0 0,0% Retained earn
Slide 27: Torpol S.A. cash flow statement
in PLN thousand Y2023 Y2022 Change Data in PLN thousand Y2023 Y2022 Change Cash flows from investing activity Cash flows from operating activity Sale of fixed tangible assets and intangibles 669 755 -86 Gross profit 122 513 230 683 -108 170 Acquisition of property, plant and equipment, intangible -2
Slide 28: Contact details
ul. św. Michała 43 61-119 Poznań tel. +48 61 87 82 700 fax +48 61 87 82 790 www.torpol.pl Łukasz Sychowski Director of Social Communication Office tel. +48 61 87 82 793 fax +48 61 87 82 790 l.sychowski@torpol.pl | ri@torpol.pl 28 | www.torpol.pl