Stalexport Autostrady Capital Group’s summary of the financial results for three quarters of 2023

After the first three quarters of 2023, the Stalexport Autostrady Capital Group has recorded higher revenue and higher net profit compared to the corresponding period of the previous year*.

The revenue generated by the Stalexport Autostrady Capital Group increased in the period under analysis by approx. 24 percent compared to the corresponding period of 2022 and amounted to PLN 380.9 million. The net profit increased by 116% to PLN 126.8 million.

EBITDA amounted to nearly PLN 216 million and was 49 percent higher compared to the amount recorded after the first nine months of 2022.

In 2023, general and administrative expenses increased significantly compared to the first three quarters of 2022 and amounted to PLN 115.5 million (up by 165%). In 2023, this item included payments to the State Treasury in the amount of PLN 51.5 million (net), which were not present in the first three quarters of 2022.

Average traffic intensity on the toll section of the A4 Katowice-Kraków motorway grew in the first three quarters of 2023 by 3 percent and amounted to approx. 48.9 thous. vehicles per day. This growth applies only to passenger vehicles (3.7 percent), as heavy goods vehicles recorded a decline of approx. -0.5 percent.

The revenue from toll collection amounted to PLN 376.9 million, i.e. 24 percent more than in the corresponding period of the previous year. Revenue from tolls collected from passenger cars grew by 25.9 percent, whereas from heavy goods vehicles - by 20.8 percent.

The growth rate of traffic intensity on the A4 Katowice-Kraków motorway was significantly lower in the first three quarters of 2023 as compared to the corresponding period of the previous year. This is due to the fact that in the second quarter of 2022, hundreds of thousands of refugees arrived to Poland via the A4 motorway, as until 31 May 2022 they were able to use the A4 Katowice-Kraków motorway free of charge. At present, the exemption from toll payment applies to vehicles or groups of vehicles reported by Polish non-governmental organisations and foreign organisations and individuals as providing aid to Ukrainian nationals.

The first three quarters of 2023 were a period of intensified renovations on the A4 Katowice-Kraków motorway due to the need to transfer the road to the public authority in 2027 in very good technical condition. The modernisation covered bridge structures, including on the key motorway junction in Mysłowice, i.e. where the A4 motorway meets the S1 expressway. The replacement of road surface has also begun and will continue on both roadways of the 61-kilometre toll section of the A4 Katowice-Kraków until the end of the concession period. This work is always carried out with two traffic lanes in both direction remaining open, which significantly improves traffic flow.

As part of continued efforts to improve access to automatic toll payment methods, the company has entered into talks with new videotolling operators. The organisation of traffic on toll plazas is being consistently adjusted to handle the growing number of drivers using the plazas.

* In 2023, changes were introduced to the way of presenting certain financial data, as a result of which the data for the year 2022 was adjusted. The presentation changes were made in regard to cash on reserve accounts and Concession Fees. Furthermore, changes were made to the approach used for estimating and recognising provisions for motorway road surface replacement expenses.