In 2014, Capital Group PEKAES earned net profit of over PLN 20 million, which means an increase by 85 percent compared to 2013. Sales revenue increased by 32% to 722 million, while the operating profit was higher than in the previous year by 66%, reaching PLN 16.9 million. EBITDA (increase YoT by 123%) and other profit margins also improved. The group takes advantage of the synergy effect and consequently expands its operations based on new assets, focusing on the development of intermodal and LTL transport services.

  • Increase in revenue in 2014 YoY by 31.6 % to PLN 722 million.
  • Increase of EBITDA in 2014 from continued operations (excluding one-off events) by 123% to PLN 36.1 million.
  • Net profit of PLN 20.5 million compared to PLN 11.06 million in the corresponding period of the previous year (increase YoY by 85.1%).
  • EBITDA margin increased YoY by 2.1 percentage points to 5%.
  • Net profit margin was higher by 0.7 percentage points compared to the corresponding period of the previous year, reaching 2.8%.

Last year PEKAES was successfully implementing the new development strategy for 2014-2018, thereby maintaining the stable growth. In the reported period the Group earned PLN 722 million of consolidated revenue, of which PLN 651.88 million was generated by the parent company in the Group - PEKAES S.A. In the revenue structure, the largest share was recorded by forwarding and logistics - PLN 575.62 million. Net profit from continued and discontinued operations, including one-off events, increased from PLN 11.06 in 2013 to PLN 20.46 million in 2014, while the operating profit was PLN 16.9 million, compared to PLN 10.19 million in 2013.

"Thanks to the systematic increase in the efficiency of all areas of our activity, once again we were able to improve key financial results. Despite difficult conditions due to the price pressure in the market, we maintain a stable, two-digit growth. The objective for the coming months is to further improve margins and complementarity of the services we offer, which improves the profitability of the Group."- emphasises Maciej Bachman, the President of the Management Board of PEKAES SA.

Regardless, the Group continues to diversify sources of revenue. A key element of the development strategy is further development of a strong logistics and intermodal group, while increasing involvement in other promising areas of activity - sea freight forwarding, contract logistics and modern distribution.

In the reported period PEKAES also recorded improvement of all key profitability parameters. In 2014 EBITDA from continued operations, excluding one-off events, increased by 123% to PLN 36.1 million. EBITDA margin from continued operations, excluding one-off events, increased by 2.1 percentage points, reaching 5.0%. Net return and return on sales improved, too - they increased YoY by 0.7 and 0.2 percentage points to 2.8% and 7.6%, respectively.

It was possible to maintain the high rate of growth of financial results in 2014 thanks to the increasingly noticeable synergy SPEDCONT and Chemicals. In both companies, the process of integration with the Group has ended. The entities generate profits and bring many operational and financial profits to PEKAES Group.

"Thanks to the acquired competence in container transport services we could enter a very promising market of intermodal services, characterised by relatively high margins, which positively impacts financial results. Both companies have already completed the reorganisation process and extended the range of services offered. Thus, we have become even a more competitive market player, capable of competing with the largest international companies and meeting the expectations of the most demanding customers." - adds Maciej Bachman of PEKAES S.A.

At the end of the previous year the Group had cash of PLN 73.8 million and thus there was an increase in cash and cash equivalents by PLN 28.2 million.

In the current year PEKAES plans to continue the ongoing activities to implement the next stages of the adopted strategy. Further work on the cost optimisation and performance of the activities initiated in 2014 will enable the company to maintain the high market position and to compete effectively with other major players in the market.

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