Katowice, May 5th 2009
Stalexport Autostrady’ Group results for 1Q2009
The Group of Stalexport Autostrady SA, despite lower revenues in 1Q2009 in comparison with the previous year ones, achieved net profit of 2.7 m zloty.
Despite considerably worse situation of the market the Group of Stalexport Autostrady commences the successive year with generating the profit. In comparison with the 1Q2008, the revenues of the Group decreased by 7.5% (from 33.4 m zloty to 30,9 m zloty), and net profit amounted to 2.7 m zloty (5.9 m zloty in 1Q2008).
The core business of the Capital Group of Stalexport Autostrady is the motorway business conducted through the company Stalexport Autostrada Małopolska – the concessionaire of the toll motorway A4 section Kraków-Katowice. Thus any changes of regulations and the conditions of the activity on this market directly affect the financial results of the Group. The main factors which affected the diminishing of the revenues of Stalexport Autostrady Group in 1Q2009 in comparison with analogous period of previous, were:
· lower vignettes vehicles and passenger’s cars traffic connected with the economic slow down;
· resignation by a part of the truck cars (DMC 3,5 – 12 ton) from using the toll motorway in connection with the changes in regulations which became effective on 24.12.2008 – a group of vignettes vehicles was reduced and the vehicles with DMC 3,5 – 12T, after the regulations change, have to pay the actual toll, unless they show the valid vignette purchased before the regulations become valid.
– The economic slow down and the changes of the regulations, implemented at the end of the previous year, concerning the vignettes for the vehicles with weight between 3,5t and 12t, negatively affected the financial results of a project of managing the A4 motorway A4 Kraków-Katowice, which is the leading project of our Capital Group. It resulted in outflow of a part of vehicles and the same it caused the diminishing of the traffic volume, i.e. revenues. It is reflected in the results of the whole Group - says Mieczysław Skołożyński, Vice-President of the Management Board and the Financial Director of Stalexport Autostrady SA. Mieczysław Skołożyński also added that the motorway activity required long-term approach and such fluctuations should be treated as the temporary factors, which do not have greater impact on the whole project.
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