STALEXPORT AUTOSTRADY CAPITAL GROUP SUMMED UP 2016

Increased key financial indicators, the introduction of A4Go electronic toll collection system and dividend payment – these are the most important events in 2016 in Stalexport Autostrady Capital Group. The Group maintained a growing trend both as regards revenues, and the earned net profit. In connection with further forecasted increased traffic on the A4 Katowice-Krakow, the concessionaire launched the electronic toll collection system A4Go. For the first time in the history of Stalexport Autostrada Małopolska S.A. dividend was paid to the sole shareholder – Stalexport Autoroute S.à r.l., which in turn paid interim dividend for 2016 to its sole owner – Stalexport Autostrady S.A.

Last year the Stalexport Autostrady Capital Group had revenues of PLN 292.9 million (about 11.6 per cent higher than in 2015) and a net profit of PLN 165.3 million, which was over 38 per cent higher as compared to 2015. EBITDA was about PLN 245.4 million.

Significantly higher revenues of the Capital Group in comparison with 2015 are the effect of e.g. over 10 per cent increase in traffic, to over 40 thousand vehicles per day. This increase concerns both cars (10.2 per cent) and lorries (10.5 per cent).

In 2016 the Group had PLN 24.7 million lower financial costs, as a result of change  in the estimates of provisions for replacing the road surface on the motorway. The level of long- and short-term liabilities of the Capital Group also decreased by over PLN 92 million and as a result the financial costs were lower by 5.7 per cent.

The management and operation of the concession stretch of the A4 carried out by Stalexport Autostrada Małopolska S.A., which is a member of the Group, had the most important impact on consolidated financial results of the Capital Group. Last year the revenues from tolls for using the A4 Katowice-Krakow were PLN 288.4 million.

For the concessionaire of the A4 motorway the year 2016 was the time of intensive work  connected with launching new methods of payment for using the motorway – kartA4 proximity cards and electronic toll collection A4Go. Until the end of 2016 motorway users received nearly 7000 onboard units for electronic toll collection. In 2016 other important investments were also carried out, such as: the extension of two motorway junctions – Myslowice (put into operation last November) and Rudno, modernisation of the motorway draining system and resurfacing, which will be continued in 2017 and the following years. The latter works are carried out in such a way as to retain two lanes for each direction of traffic.

An important event in May last year was the payment of dividend of PLN 86 million by the concession company Stalexport Autostrada Małopolska S.A. (SAM S.A.) to its sole shareholder Stalexport Autoroute S.à r.l. seated at Luxembourg. In December 2016 SAM S.A. paid to Stalexport Autoroute S.à r.l. an advance payment for the expected dividend of PLN 85 million. The above amounts have been paid by Stalexport Autoroute S.à. r.l. as interim dividend for 2016 to its sole owner, Stalexport Autostrady S.A. These payments, which constituted considerable financial revenues for Stalexport Autostrady S.A., enabled them to reach a net profit of PLN 180.7 million.

Emil Wąsacz, the President of the Management Board of Stalexport Autostrady S.A. and Stalexport Autostrada Małopolska S.A.:

2016 was a year of considerable challenges, important projects but also good results of the Stalexport Autostrady Capital Group.
As regards our motorway operations, due to a considerable increase in traffic volume in the last few years, in 2016 we launched electronic toll collection A4Go. This project was carried out in only 6 months, which is a kind of a record for such a venture. It was the last element of a large contract for the replacement of toll collection devices. At the end of 2016 motorway users purchased nearly 7000 on-board units. The number of transactions made with them is growing steadily and it seems that this trend will also continue in 2017.
In 2017 the extended Rudno junction will be put into operation. Motorway drainage modernisation will be continued as well as its resurfacing. We are also planning to build noise barriers, to modernise bridges and to resurface two junctions as well as to invest in a traffic management system.
We are interested in expanding our motorway activity with new projects within public-private partnership. We are also considering engaging capital into existing concession projects, if there is such a possibility.