Financial results of Stalexport Autostrady Group in 1Q 2015

Stalexport Autostrady Group summarised the first quarter 2015, noting higher traffic on the A4 Kraków-Katowice motorway and improved financial results compared with the corresponding period of the previous year.

In Q1 2015, Stalexport Autostrady Group generated revenue on sale in the amount of PLN 54.3 million (higher by approx. 10% than in Q1 2014). Higher revenue on sale is to a great extent due to an increase in revenue from the motorway activity related to the management and operation of the A4 motorway between Katowice and Kraków. This activity is carried out mainly by the Group’s subsidiary companies: Stalexport Autostrada Małopolska S.A. and VIA4 S.A.

Higher revenue results from an increase in the level of traffic on the A4 Katowice-Kraków motorway and from new toll rates. In Q1 2015, the average daily traffic on the concession section of the A4 motorway was 5.9% higher than the traffic recorded in the same period of 2014, and amounted to 32.2 thousand vehicles. This increase applied to both cars (5.5%) and trucks (7.7%).

In the first three months of 2015, the Group’s other operating income was nearly a half lower than in the same period last year and amounted to PLN 923 thousand, which was primarily due to a higher release of provisions and write-offs in the same period of the previous year. Moreover, in Q1 2015, the cost of sales of Stalexport Autostrady Group (PLN 20.1 million) was similar to Q1 2014.
Lower interest rates, reflected in a lower value of the discount on provisions, reduced the negative balance on financial activities of the Group by over 12% to approx. PLN 6 million.
The business activity run in Q1 2015 by Stalexport Autostrady Group generated a net profit of PLN 18.9 million, i.e. higher by approx. PLN 4.4 million than in the first three months of the previous year.