TORPOL reports very strong results after a difficult year of 2023

TORPOL reports very strong results after a difficult year of 2023

The TORPOL Group recorded a very successful year of 2023. Sales reached PLN 1.09 billion, operating profit of PLN 113.9 million, EBITDA of PLN 138.7 million and net profit exceeded PLN 102 million. The company maintained a solid financial position, closing the year with PLN 516 million in cash. The order backlog was also impressive, with a net order intake of approximately PLN 2.44 billion at the end of last December (against a net order backlog of PLN 0.98 billion at the end of 2022).

Despite the y-o-y decline profitability indicators remained strong, with a gross profit margin of 14.5%, an EBITDA margin of 12.7% and a net margin of 9.3%.

The TORPOL Group, despite the uncertain market environment and high inflation, as well as the limited activity of our main ordering party due to the lack of transfer of structural funds for Poland, achieved satisfactory financial results last year. The Group’s financial and liquidity position remains very good. The value of our order backlog is more than PLN 2.44 billion net (excluding consortium participation). We have adequate resources as well as material, financial and personnel resources allowing us to properly realise our order portfolio and to be highly active in acquiring further large infrastructure projects, said Konrad Tuliński, the Vice-President of the Management Board of TORPOL in charge of Production.

The TORPOL Group is actively investing in the development of its technical potential. In 2023, the Group made investments amounting to PLN 31.5 million, made, among other things, the expansion of the machinery park with further specialised machinery and equipment (including a ballast profiler, a cone crusher and two-road vehicles for network works). This year’s capital expenditure is expected to be even higher, amounting to PLN 50.4 million. The investment plan mainly concerns the purchase of further equipment and machinery for modernising railway lines (including the continuation of existing investments), as well as specialised means of transporting loose materials by rail. Over the past eight years, the Group has carried out investments totalling more than PLN 240 million.

We have a very busy period ahead of us. Significant tendering procedures should soon appear on the railway market in connection with the investment plans of PKP PLK and investments within the railway component of CPK – it is even a dozen billion zlotys a year until 2030. We have the right potential and we are very well prepared to carry out new projects, we are just waiting for tenders to be announced, efficiently processed and resolved, stressed Konrad Tuliński, the Chief Production Officer at TORPOL.