Trans Polonia (TPG), a leading transport and logistics operator listed on the Warsaw Stock Exchange, has presented its financial results for the first half of 2023. During this period, the company generated PLN 102.4 million in sales revenue (+11.7% y/y), with EBITDA profit of PLN 10.2 million (+0.3% y/y) and net profit: PLN 4.3 million (+68.3% y/y). TPG is recording the highest scale of business growth in the area of liquid chemical logistics and continuously increases the share of sales realised outside of Poland (80.8% versus 73.5% y/y). Trans Polonia expects to maintain positive market trends in subsequent periods and continue to have a positive sales and performance trajectory.
– “In line with our assumptions, we are increasing the scale of our operations, especially in the strategic area of liquid chemistry, where transport is mainly carried out in Western European countries. The favourable financial results, operational flows, and balance sheet situation allow us to steadily increase the available fleet, implement new projects, and pay dividends. We expect to see steady business growth in the upcoming quarters, although we do observe some economic slowdown, especially in Germany,” says Krzysztof Luks, Vice President of the Management Board for Financial Affairs at Trans Polonia S.A.
In the first half of the year, TPG generated significantly higher y/y operational cash flows of PLN 14.9 million (compared to PLN 4.9 million in the corresponding period of 2022) and had PLN 52.9 million in cash resources available as of June 30, 2023. Additionally, according to the balance sheet at the above date, the Group had a slight net financial debt of PLN 3.7 million, reflecting in the net debt/EBITDA LTM ratio of 0.16 points.
On August 28th, TPG paid shareholders a dividend of PLN 0.50 per share, i.e., almost PLN 9.4 million. The shareholders made this decision during the Ordinary General Meeting on July 28th.
– “In 2023, we expect further sales growth, whose level is steadily approaching the scale of the business before the sale of shares in OTP, which transports fuels. In the medium term, we aim to exceed the barrier of PLN 300 million in revenues, while maintaining profitability and continuing the redistribution of profits to our shareholders in the form of dividends,” adds Krzysztof Luks.
Trans Polonia operates directly from Poland and through two logistics companies incorporated into the Group in recent years: J. Deckers & Zn NV, which was taken over in 2021 and is based in Brecht, Belgium, located near the ARA (Amsterdam-Rotterdam-Antwerp) seaports, and TPG International GmbH, located in Hilden, Germany, in the Ruhr Region. Both companies specialize in the transport of liquid chemical loads in Western Europe.
