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 Company headquarters in Warsaw | |
| Company type | Spółka Akcyjna |
|---|---|
| ISIN | PLPKPCR00011 |
| Industry | Rail transport |
| Founded | 2001; 24 years ago (2001) |
| Headquarters | Warsaw,Poland |
Key people | Władysław Szczepkowski CEO |
| Services | Forwarding Logistics Rail freight transport Railway siding management Rolling stock maintenance Transshipment |
| Revenue | 4759.6 millionzł [1] (2017) |
| 81.7 millionzł[1] (2017) | |
| Total assets | 4688 millionzł [1] (2017) |
Number of employees | 21,210 (2022)[2] |
| Website | www |
PKP Cargo (WSE: PKP) is a logistics operator and a part of thePKP Group inPoland. It is the largestrailway freight carrier in Poland and second largest in theEuropean Union.[3] PKP Cargo is listed on theWarsaw Stock Exchange. The company's largest shareholder is PKP S.A. with a 33,01% share.[4]
PKP Cargo does not have bankruptcy capacity (as it is an entity established by law).
In 2000, PKP Cargo was spun off fromPolskie Koleje Państwowe, the Polish state railways. Since 1 October 2001, PKP Cargo has been a member of PKP S.A. Group. In 2009, the company was awarded the Safety Certificate – Part A, which confirmed the approval of its safety management system in the European Union, and in 2010, it obtained the Safety Certificate – Part B.[5]
Since June 2014, PKP Cargo has been operating through seven divisions:
Beforehand, after the year 2001, the structure of the company was modified several times. The new territorial division is expected to streamline management performance and deliver more than PLN 10 million in savings annually.[6]
The core activity of PKP Cargo israil freight transport. The company is the largest carrier in Poland – in 2013, PKP Cargo had a 59.2% share in the Polish market by transport performance (30.1 billion tkm) and 49.1% by weight (114.4 million tonnes).[7] The major goods carried by PKP Cargo are:coal (39% of transport performance in 2013),aggregates andconstruction materials (18% of transport performance in 2013),ores andmetals (15% of transport performance in 2013) and intermodal services (6% of transport performance in 2013). PKP Cargo cooperates with the largest Polish and global industrial groups representing themining (coal,copper),steel andmetallurgy sectors.[8]
Apart from Poland, PKP Cargo carries outrail freight operations using its ownrolling stock in 8 other countries of the European Union:Germany,Czech Republic,Slovakia,Austria,Belgium, theNetherlands,Hungary andLithuania (on thestandard gauge part of the infrastructure). The company has access to main Polish and Europeanseaports, such asGdańsk,Gdynia,Szczecin,Świnoujście,Amsterdam,Rotterdam,Zeebrugge,Antwerp,Hamburg andBremerhaven. In the first quarter of 2014,freight transport in Poland accounted for 47% of all services provided by PKP Cargo in terms of transport performance, whileimport,export andtransit services – for 22%, 23% and 8%, respectively.[1] Most of the company’s international operations terminate in countries borderingPoland. As regards the structure of income from international customers, in the first quarter of 2014, 31% of income was received fromGermany, 18% fromthe Czech Republic and 12% fromSlovakia.[1]
Member companies of PKP Cargo Corporate Group provide services in the area ofinland andmaritime transport,logistics,forwarding,transshipment, repairs ofrolling andtractive stock, as well as railwaysiding management.Subsidiaries under the direct control of PKP Cargo:[9]
Subsidiaries under the indirect control of PKP Cargo:
Subsidiaries jointly controlled by PKP Cargo or its subsidiaries:
PKP Cargo Corporate Group includes also several other companies with a minority share held by PKP Cargo or its subsidiaries.
On 30 October 2013, PKP Cargo was floated on theWarsaw Stock Exchange. With itsIPO, the company became the first stock-listedrail freight operator in Europe.[10] The first transaction of the initial session closed at PLN 80.2, 17.9% above theIPO price (PLN 68). On the first day of listing, PKP Cargo share price closed at PLN 81.16, 19.4% more than theIPO price.[10] The company itself did not obtain any receipts fromWarsaw Stock Exchange float, as only shares held byPKP S.A., representing 50% of all stock, were on offer. In June 2014, PKP S.A. sold another block of shares of PKP Cargo. PKP Cargo’s investors include top Polish and global financial institutions. As at 13 August 2014, the ownership structure of PKP Cargo was as follows:PKP S.A. – 33.01%,ING OFE – 10.58%,Morgan Stanley – 5.31%,Aviva OFE – 5.22%,EBRD – 5.1%, other shareholders – 40.77%.[11]
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PKP Cargo owns more than 2,300locomotives and uses more than 1,300 of them. Some of PKP Cargo’s locomotives have entered into service abroad. The company runs independent operations, for instance inGermany,the Czech Republic,Austria,Slovakia,Belgium, theNetherlands, usingSiemens EuroSprintermulti-system locomotives. Electric locomotives:ET22 andET41 and diesel locomotives:ST44, ST45 andSM42 have also entered into service inthe Czech andSlovak railway networks. All PKP Cargo locomotives currently in use, with the exception ofmulti-systemSiemens locomotives, are equipped withGPS devices.[12]
PKP Cargo owns more than 62,500wagons, of which more than 44,000 are currently in use.Mineral wagons (approx. 28,000),[13] carrying bulk materials (coal, ores, crushed stone), farm produce (beetroot, potatoes), as well as other goods, such as timber, machinery and equipment, account for a major part of therolling stock. The second most numerous group at PKP Cargo areflat wagons. PKP Cargo uses them to carrycontainers, metal products, vehicles, machinery, timber etc. In addition, the company has ordinary andspecial covered vans,wagons with opening roofs and special wagons which can carry, for instance, heavy industrial goods exceedingloading gauge limits, as well as heavy electrical equipment.
PKP Cargotabor, a member company of PKP Cargo Corporate Group, provides locomotive and wagon maintenance services. PKP Cargotabor employs approximately 2,800 people and is one of the largest companies of its type in Europe.[14] PKP Cargotabor was established in mid-2014 as a result of the consolidation of rolling stock companies within PKP Cargo Corporate Group. According to representatives of the PKP Cargo management board, while in 2014 almost all of the orders executed by PKP Cargotabor have been placed by PKP Cargo Corporate Group, the company is expected to provide services to third parties in the future.[15] On 15 December 2014, company representatives announced that they were considering the launch of freight cargo manufacturing operations.[16]
PKP Cargo operates 25 transshipment terminals at key locations inPoland. Six of them are located close to the eastern border. PKP Cargo owns two specialised logistics centres: Małaszewicze, near the border with Belarus, and Medyka-Żurawica, close to the border with Ukraine.[17] Additionally, PKP Cargo runs container terminals inGliwice,Kobylnica,Mława andWarsaw, among others. The latest PKP Cargo’s intermodal investment project is thePoznań-Franowo terminal.[18] It is the largest freight station in Wielkopolska, the size of its yard reaching 20 thousand square metres, and the track system totalling 1,570 running metres in length.[19] The annual transshipment capacity of the Franowo terminal is estimated at 60,000 TEU.
PKP Cargo Group operates more than 30railway sidings for a dozen or so customers in sixProvinces ofPoland. They include the largest companies on the Polish and European mining, steel processing and power generation markets. The number of sidings handled by PKP Cargo keeps growing. Railway siding operations are carried out by PKP Cargo Service, a member company of PKP Cargo Group.[20]
Within PKP Cargo Corporate Group,forwarding operations are carried out by PS Trade Trans. PS Trade Trans is an international logistics operator specialised in railway and road forwarding. Aside from that, it offers transshipment and customs services.[21]As part of its operations, Trade Trans offers rail forwarding services (using its own rolling stock), road forwarding services, maritime and air transport arrangements, customs services (the company runs a network of 18 customs agencies in Poland and at the EU border), logistics in seaports and inland terminals, warehousing logistics, ferry transport, ferry services between Poland and Scandinavia, oversized and heavy cargo operations, as well as services for non-standard and complex projects.[22] The company was involved in the deliveries of materials for the construction of theNational Stadium in Warsaw and theEuropean Solidarity Centre in Gdańsk.[23][24]
Cargosped sp. z o.o. is a PKP Cargo Corporate Group company responsible for intermodal operations. The company sets up logistic chains which involve rail transport. Aside from typical logistics solutions (just in time, door to door, on place on time), Cargosped is specialised in extraordinary consignments that can be troublesome in transport due to shape, size or weight and require special technologies or transport arrangements.[25]PKP Cargo declares that intermodal operations are its strategic business segment.[26] The company is a leader in intermodal operations in Poland, with a 52% market share after Q3 2014 by transport performance.[27] After three quarters of 2014, intermodal services accounted for 7% of the transport performance of PKP Cargo Corporate Group. In autumn 2013, PKP Cargo bought 330 new 80-ft container flat wagons.[28] In December 2013, PKP Cargo put one of its largest terminals into service at the Poznań-Franowo station. The investment cost the company PLN 25 million.[29]
PKP Cargo owns the ParowozowniaWolsztyn museum, Skansen taboru kolejowego (rolling stock museum) in Chabówka and operates vintage steam trains on selected routes. The company offers trips and events forrailway enthusiasts. Since 27 April 2011, it has been the sponsor ofPogoń Lwów.[30] In August 2014, the company started cooperation with two other football clubs in Poland:Ruch Chorzów[31] andZagłębie Sosnowiec.[32] In December 2014, PKP Cargo signed a cooperation agreement with the Białystok University of Technology.[33]
On December 30, 2014, representatives of PKP Cargo has signed an agreement on acquisition of an 80% stake in Advanced World Transport (AWT), the second largest rail freight operator inthe Czech Republic. If the agreement comes into effect, PKP Cargo will increase its share in the Czech market to approx. 10%. PKP Cargo has also signed a stakeholder agreement with Minezit SE, a Czech company that owns the remaining 20% of shares in AWT. The agreement provides among others conditions for a potential acquisition of the remaining 20% stake in AWT by PKP Cargo in the future.[34]
 Railway operators of Poland | |
|---|---|
| Passenger | |
| Freight | |
