Pkp Cargo Spolka Akcyjna · GPW:PKP
Pkp Cargo Spolka Akcyjna — PKP Cargo — Q1 2017 Earnings Presentation
30 slides from Pkp Cargo Spolka Akcyjna's earnings presentation, 2017
Slide 1: PKP CARGO Group Q1 2017
PKP CARGO Group Q1 2017 1 © Copyright PKP CARGO S.A.
Slide 2: Agenda
AGENDA ‖ Recap of the quarterly results ‖ Key achievements in Q1 2017 ‖ Commercial results ‖ Financial results ‖ Outlook for 2017 2 © Copyright PKP CARGO S.A.
Slide 3: Robust Q1 2017 results – costs under control
Robust Q1 2017 results – costs under control ✓ ✓ ✓ MARKET SHARE EBITDA CAPEX 52.3% PLN 147 PLN 86 measured by freight turnover (+0.1 p.p. yoy) 44.9% million 83% yoy million -53% yoy measured by freight volume (+0.6 p.p. profitability of 13.4% yoy) REVENUES NET RESULT OPEX PLN 1,100 -PLN 1 PLN 1,097
Slide 4: Agenda
AGENDA ‖ Recap of the annual results ‖ Key achievements in Q1 2017 ‖ Commercial results ‖ Financial results ‖ Outlook for 2017 4 © Copyright PKP CARGO S.A.
Slide 5: Most important achievements in Q1 2017
Most important achievements in Q1 2017 © Copyright PKP CARGO S.A. 5
Slide 6: PKP CARGO Group’s enormous potential
PKP CARGO Group’s enormous potential © Copyright PKP CARGO S.A. 6
Slide 7: Agenda
AGENDA ‖ Recap of the quarterly results ‖ Key achievements in Q1 2017 ‖ Commercial results ‖ Financial results ‖ Outlook for 2017 7 © Copyright PKP CARGO S.A.
Slide 8: Position of the PKP CARGO Group
Position of the PKP CARGO Group PKP CARGO Group’s share of the Polish market PKP CARGO Group’s share of the Polish market measured by quarterly freight turnover data measured by quarterly freight volume data for 2016 and Q1 2017 +2.1 p.p. for 2016 and Q1 2017 +1.6 p.p. 52.1% 50.2% 51.9% 52.0% 44.3%
Slide 9: Positive developments on major markets
Positive developments on major markets Solid fuels Metals and ores Aggregates and construction freight turnover, billion tkm freight turnover, billion tkm materials freight turnover, billion tkm +0.2% +3% +21% 3.10 3.11 0.76 0.90 0.94 0.63 Q1 2016 Q1 2017 Q1 2016 Q1 2017 Q1 2016 Q1 2017 Intermodal C
Slide 10: Strong growth internationally
Strong growth internationally PKP CARGO Group's intermodal transport freight turnover (million tkm) net of the AWT Group 269 252 234 231 217 216 183 183 188 194 192 173 178 160 162 01-16 02-16 03-16 04-16 05-16 06-16 07-16 08-16 09-16 10-16 11-16 12-16 01-17 02-17 03-17 Przewozy Domestic krajowe tra
Slide 11: Hard coal
Hard coal Key events in Q1 2017 Hard coal freight turnover, billion tkm ► Hard coal down 0.9 million ton (-5.0% yoy) coupled with inventories down by 4 million of which AWT: of which AWT: tons (-66.2% yoy) 0.14 0.07 ► Transport in Poland measured by freight volume up 7% yoy despite lower production
Slide 12: Aggregates and construction materials
Aggregates and construction materials Key events in Q1 2017 Aggregates and construction materials freight turnover, billion tkm ► Delays until 2017 and 2018 of key infrastructural projects under the framework of which AWT: of which AWT: of the EU financial perspective (“Design and build”) 0.01 +21%
Slide 13: Metals and ores
Metals and ores Key events in Q1 2017 Metals and ores freight turnover, billion tkm ► Higher steel production: up 9.6% yoy (2.53 million tons) in Poland, up 3.8% yoy (42.51 million tons) in the EU and up of which AWT: of which AWT: 5.7% (410.55 million tons) across the globe 0.01 0.02 +3% ► Global i
Slide 14: Intermodal
Intermodal Key events in Q1 2017 Intermodal freight turnover, billion tkm ► Rapid development of the New Silk Road. Higher land transport from/to China by 95% yoy measured by container volume of which AWT: of which AWT: 0.05 +35% 0.01 ► The volume of containers transported by PKP CARGO to and from P
Slide 15: Agenda
AGENDA ‖ Recap of the quarterly results ‖ Key achievements in Q1 2017 ‖ Commercial results ‖ Financial results ‖ Outlook for 2017 15© Copyright PKP CARGO S.A.
Slide 16: Improved top line sales
Improved top line sales Operating revenues Operating expenses PLN million PLN million 6% 0% 1,034 1,100 1,096 1,097 899 866 Q1 2015 Q1 2016 Q1 2017 Q1 2015 Q1 2016 Q1 2017 EBITDA Net result PLN million PLN million 83% 22 135 147 81 Q1 2015 Q1 2016 Q1 2017 -1 Q1 2015 Q1 2016 Q1 2017 -66 © Copyright P
Slide 17: Costs under control coupled with rising freight transport
Costs under control coupled with rising freight transport EBITDA per employee Remuneration Energy and fuel Access to infrastructure (000s PLN/employee) (PLN/thousand tkm) (PLN/thousand tkm) (PLN/thousand tkm) -2% 6.3 23.6 86% 43.8 -13% -2% -3% +6% 0.3% 38.3 3.4 21.1 20.7 22.9 Q1 2016 Q1 2017 Q1 2016
Slide 18: Capital expenditures Q1 2017
Capital expenditures Q1 2017 PKP CARGO PKP CARGO Change Change Capital expenditures Group Group yoy % yoy PLN million Q1 2016 Q1 2017 Components in overhaul 62 68 6 10% 2 2 - 20% ICT development 3% Mix Q1 2017 6% Investment construction 3 5 2 89% PLN 86 79% activity million 10% Purchase and moderniz
Slide 19: Robust foundations for growth
Robust foundations for growth Available funding sources Debt structure as at 31 March 2017 Cash* 31 Dec 2016 31 Mar 2017 109 EIB Indebtedness BGK Long-term 1,416 1,330 698 PLN 1,154 276 Short-term 376 408 million 70 mBANK Total indebtedness 1,792 1,739 1 Other Cash flow Financial ratios ** PLN milli
Slide 20: Agenda
AGENDA ‖ Recap of the quarterly results ‖ Key achievements in Q1 2017 ‖ Commercial results ‖ Financial results ‖ Outlook for 2017 20© Copyright PKP CARGO S.A.
Slide 21: Outlook: key commercial areas
Outlook: key commercial areas Development of Polish ports Terminal network expansion EU regulations concerning charges for road transport Development of collaboration along the New Silk Road Intermodal Return to the concept of energy security based on hard coal Coal Closure of the Paskov and Łazy mi
Slide 22: Appendix
APPENDIX 22© Copyright PKP CARGO S.A.
Slide 23: Freight results
Freight results Freight turnover (million tkm) Q1 2016 Q1 2017 Change % change Share Q1 2016 Share Q1 2017 solid fuels 3,100 3,108 7 0% 47% 44% including hard coal 2,824 2,774 -50 -2% 43% 39% aggregates and construction 630 764 134 21% 10% 11% materials metals and ores 904 936 32 3% 14% 13% chemical
Slide 24: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income PLN million Q1 2017 Q1 2016 % change Revenues from the sale of services 1,078 1,014 6% Revenue from sales of goods and materials 10 9 13% Other operating revenue 13 12 10% Total operating revenue 1,100 1,034 6% Depreciation and amortization and impairme
Slide 25: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position As at 31 ASSETS [PLN million] As at 31 December March 2017 2016 Property, plant and equipment 4,594 4,701 Intangible assets 52 56 Goodwill 1 1 Investment property 42 41 Investments accounted for under the equity method 2 2 Other long-term receivables 0 0
Slide 26: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position As at 31 EQUITY AND LIABILITIES [PLN million] As at 31 December March 2017 2016 Share capital 2,239 2,239 Supplementary capital 619 619 Other items of equity 27 11 Exchange differences resulting from conversion of financial statements of foreign operation
Slide 27: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash flow from operating activities [PLN million] Q1 2017 Q1 2016 Gross result For the financial year 0 (75) Adjustments: Depreciation of property, plant and equipment and amortization of intangible assets 144 142 Impairment of non-current assets - 0 (Profit) / loss
Slide 28: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash flow from investing activities [PLN million] Q1 2017 Q1 2016 Expenditures to acquire property, plant and equipment and intangible assets (118) (175) Proceeds on the transfer of property, plant and equipment, intangible assets and non-current assets held for sale
Slide 29: Legal disclaimer
Legal disclaimer This presentation has been prepared by PKP CARGO S.A. (“Company”, “PKP CARGO S.A.”) solely for information purposes. This presentation may not be copied, distributed or transmitted directly or indirectly to any person, for any purpose whatsoever without PKP CARGO’s knowledge and exp
Slide 30: Investor Relations contact
To obtain additional information about PKP CARGO please contact the Investor Relations Section: PKP CARGO S.A. Investor Relations Section ul. Grójecka 17 02-021 Warsaw Telephone: +48 22 391-47-09 Fax: +48 22 474-29-53 e-mail: [email protected] 30© Copyright PKP CARGO S.A.