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Tuesday, June 18, 2024

PKP Cargo. Deputy Minister Piotr Malepszak: these are necessary actions to ensure that the company does not go to the bottom

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We are taking all steps to save the PKP Cargo company, Deputy Minister of Infrastructure Piotr Malepszak informed journalists on Monday. He added that in recent years he had not encountered such a scale of pathology on the Polish railway as occurred in the company.

– What we are doing are actions necessary to ensure that this company (PKP Cargo – ed.), to put it bluntly, does not go to the bottom. These are really necessary actions and the reduction of certain personnel costs. (…) All actions we are taking now are aimed at saving this company – said Deputy Minister Malepszak.

He added that he talks to the interim management board of PKP Cargo “almost every day” and is informed about the current situation in the company.

He stated that PKP Cargo had “academic examples” of how not to manage the company and how not to allow trade unions to have a huge influence on the company's operational activities.

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– I have not encountered such a scale of pathology on the Polish railway in recent years. Here we have really hit a wall in terms of poor quality, bad decisions resulting from political decisions, decisions of the management board itself, and the influence of trade unions on the decisions made by the management board – emphasized Maleszak.

Grzegorz Momot/PAP

The so-called program failure to perform work at PKP Cargo

The freight railway carrier announced in a statement on Monday that the management board of PKP Cargo decided to launch a program of directing some employees to the so-called failure to perform work, for a period of 12 months from June 1 this year. On the same day, he also announced that the introduction of the so-called not providing work in the current situation of the company and in the light of forecasts for transport work for 2024 is a “necessity”.

The company noted that a maximum of 30% of employees will be directed to non-work. employees, and when selecting employees, data on the social, material or family situation of a given person will be taken into account, in particular: the fact of being the sole breadwinner of the family, a single parent or a person raising a child with a disability. In addition, employees directed to the so-called failure to work will allow you to take up another job.

The carrier also reported that the employee staying on the so-called who does not work is entitled to: a social benefit of 60%. monthly cash equivalent, calculated as remuneration for holiday leave, reduced by the amount of contributions paid for retirement, disability and health insurance in the part financed by the insured person and income tax; performing activities necessary to maintain the employee's professional qualifications; using benefits under the Social Fund.

PKP Cargo results

The results of PKP Cargo for the first quarter of 2024, also published on Monday, noted that the company's consolidated revenues reached PLN 1,180.7 million, i.e. 24.5%. less year to year. The EBITDA result (operating profit of the company before deducting interest on incurred liabilities, taxes and depreciation – ed.) amounted to PLN 122.4 million, i.e. 65.9 percent. less year to year. “The company was affected by the deepening market downturn,” the statement emphasized.

“The beginning of this year brought deepening declines in the industry, which is the result of continued stagnation in the industry,” said Monika Starecka, acting member of the management board of PKP Cargo, quoted in the release.

PKP Cargo is the largest rail freight carrier in Poland. As a Group, it offers logistics services, combining rail, road and sea transport. It provides independent freight transport within Poland and: Czech, Slovakia, German, Austria, Netherlands, Hungarian, Lithuania and Slovenia. PKP Cargo is a joint-stock company, the largest single shareholder is the state-controlled PKP, which holds 33.01%. shares.

Main photo source: Grzegorz Momot/PAP

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