High capitalisation, improved financial results, continued implementation of important investments along the concession section of the A4 motorway – Stalexport Autostrady S.A. Group summarised 2013
In 2013, Stalexport Autostrady S.A. Group generated revenue on sale in the amount of PLN 206.5 million (11% increase as compared to 2012). In the consolidated annual report, the Group recorded net profit in the amount of PLN 62.4 million.
The improved results of Stalexport Autostrady S.A. Group in 2013, as compared to the previous year, resulted from, among others, reduced general administrative expenses, reduced debt as well as increased revenue on sale. A significant share in the Group’s revenue is represented by the activity related to management of the concession section of the A4 Katowice-Kraków motorway, which the Group’s entity, i.e. Stalexport Autostrada Małopolska S.A., is responsible for. In the previous year, the Company’s revenue on toll collection at the motorway amounted to PLN 202.3 million. As much as PLN 47.5 million of that figure was transferred to the public party in the form of tax and other fees.
For the Concessionaire of the A4 Katowice-Kraków motorway, 2013 was another year of investing in projects aimed at improving the travellers’ comfort and limiting the motorway’s impact on the environment. In 2013, Stalexport Autostrada Małopolska invested PLN 29 million.
Due to the increasing traffic along the A4 Katowice-Kraków motorway (in 2013, the traffic level increased by 10.5% as compared to 2012), the administrator of the A4 motorway has been implementing a long-term programme aimed at increasing the flow capacity of the Toll Collection Plazas. So far, the Toll Collection Plazas in Mysłowice and Balice were extended by four additional service lanes (currently there are nine service lanes in each direction). Additionally, the Replacement of the Toll Collection Equipment project is being implemented, which will make it possible for us to introduce new and faster payment methods which would not require the vehicles to stop. In addition to the investments aimed at increased service speed at the motorway toll collection gates, in 2013, the Concessionaire addressed the issue of comfort of the residents of the housing estates located in the motorway’s vicinity, by erecting noise screens over the section of 1.5 km in total.
In the previous year, the Group’s financial result was reflected by the increased market value of Stalexport Autostrady S.A. In 2013, the Company’s market capitalisation reached the highest level throughout the last five years. Throughout the previous year, the Company’s share price increased by over 80%.
Emil Wąsacz, the President of the Management Board, General Director of Stalexport Autostrady S.A. and Stalexport Autostrada Małopolska S.A.:
The long-term project based on administration and operation of the A4 Katowice-Kraków motorway, which requires of us capital expenditure incurred over a long period of time, remains the key project for Stalexport Autostrady S.A. Group. The above should be taken into account, when interpreting annual results of a company engaged in a business similar to ours. In the future periods, the Company also considers the option of equity investment in the selected existing concession projects in Poland as well as participation in tender procedures related to road infrastructure in the areas, where the Group conducts its business. Privatisation of the existing roads in Poland would be another development opportunity for the Group. The experience of Italy and France in this respect shows that such a step allows not only for a rapid reduction in the public debt but also for speeding up the process of infrastructure development, with the standards of safety and quality met. I am positive that our Company, as well as other entities in the same industry, would be interested in similar projects.
Additional information provided by:
Mr. Rafal Czechowski