Trakcja with better results in Q1 2019, but still on the downside
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In the first quarter of 2019, the Trakcja Group recorded an increase in sales revenues, the company said. The company also has a high portfolio of orders, which ensures full utilization of production capacity in the following year.
Increase in revenue and decrease in loss
From January-March 2019, Trakcja recorded PLN 228.5m of consolidated sales revenue, compared to PLN 205.1m a year earlier. This means an increase in revenue by 11.4% y-o-y. The net loss in the first quarter of this year amounted to PLN 16.1m. This result was better compared to the net loss of PLN 22.5m in the corresponding period of 2018.
On a non-consolidated basis, the company’s net loss in Q1 2019 amounted to PLN 3.3m. For comparison, in Q1 2018, the loss was PLN 9.6m. Unit sales revenue in Q1 2019 was PLN 186.5m, compared to PLN 170.2m a year earlier. This represents an increase of 9.5% y-o-y.
Results from seasonality effects in the construction industry
Trakcja reported that the main factor that had an impact on the level of revenues and financial results was the seasonality of sales, mainly related to weather conditions. It is characterized by a low level of sales in the first quarter of the year and an increase in revenues in the second half of the year.
High order book
As at 31 March 2019, the Trakcja Group’s order book amounted to PLN 2.7bn, without the participation of consortium members. The company announced that it ensures full utilization of production capacity in the next financial year. In Q1 2019, the group signed construction contracts worth PLN 250m (excluding the value of works attributable to consortium members).