Comments on results of Stalexport Autostrady Group in 2012

In 2012 the Group recorded the sales revenues higher by 3% than the revenues in previous year, mainly due to the raise of the average rates for tolling of heavy and light vehicles on the toll motorway of A4 Katowice-Kraków (see detail report here). On the other hand, taking into account the sale of the shares of Biuro Centrum, starting from June 1, 2012 the financial statements exclude the revenues and costs generated by this entity.

As a result of such revenues increase the cumulative gross result on sale in 2012 reached a level higher than in a year earlier. The increase was so high that it made it possible to both overcome increase in cost of creating the provision for second pavement replacement by the amount of 10.905 kPLN resulting from discount rates actualisation and change in timing of the planned works, and cover one-time financial cost in the amount of PLN 5,788 kPLN resulting from reclassification of previously recognized in shareholders’ equity, impairment of financial assets (shares of IDEON S.A.) available for sale.

As a result of the activity in 2012, the Group achieved a consolidated net profit of 12.879 kPLN (10.536 kPLN of net profit in the previous year).

The annual separate and consolidated financial statements of Stalexport Autostrady for 2012 can be found here.