PKP Polskie Linie Kolejowe reported a loss of PLN 937 million for 2023, the railway company announced in a statement on Friday. A year earlier, the company had PLN 173 million in profit.
As explained, the main reason for the deterioration of the result was the need to take into account costs related to investment claims. In 2023, PKP PLK had to recognize costs of approximately PLN 1 billion, mainly due to claims submitted by contractors in 2022 and earlier.
It was added that these costs had not been included in the financial results in previous years. The total value of claims made by investment contractors against PKP PLK is currently over PLN 7 billion.
The worst result since 2005
“I am surprised by the level of loss in 2023. The disclosed value of the claims of investment contractors and the risk of their payment resulted in the company's worst result since 2005. The State Treasury expects a financial result from PKP Polskie Linie Kolejowe of around zero, and last year a huge loss was generated” – said Piotr Wyborski, president of PKP PLK, quoted in the release.
PKP PLK is 100 percent a State Treasury company, manager of the national railway infrastructure. The company is responsible for managing the state network of railway lines and for traffic management and synchronization. The company is also responsible for developing and updating train timetables throughout the country.
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