As part of the ‘Efficiency and Growth’ programme, the Management Board of Grupa LOTOS S.A. has decided to float LOTOS Kolej on the Warsaw Stock Exchange.
The decision is to facilitate the company’s further dynamic growth based on its existing capabilities. The growth of LOTOS Kolej’s operational and market potential will be pursued through organic growth, including through further efficiency improvements, rolling stock optimisation, and delivering top-quality service. The decision to go public is driven by the current and predicted future situation on the rail freight market. For the LOTOS Group, it is also a guarantee of secure fuel logistics.
“In line with our previous declarations, we are implementing what is the optimal growth plan for LOTOS Kolej,” emphasises Paweł Olechnowicz, President of the Management Board of Grupa LOTOS S.A. “We are working to strengthen the company’s market position while preparing for its stock-market floatation.”
The Management Board of Grupa LOTOS S.A. has assumed that LOTOS Kolej should be ready for its IPO in the fourth quarter of 2016. The exact timetable and method of floatation will depend on the results of detailed analyses and on the situation on the capital markets.
LOTOS Kolej is a wholly-owned subsidiary of Grupa LOTOS S.A. Its primary role is to provide comprehensive railway services to companies of the LOTOS Group, as well as to provide transport and rolling stock services to external customers. In 2014, the company’s share in the Polish freight market (in terms of tonne-kilometres) was just under 9%, which placed LOTOS Kolej as the second largest rail cargo carrier in Poland, with 10.6m tonnes of products hauled by the company last year.
The company’s revenue in 2014 figured at over PLN 600m, and its EBITDA totalled PLN 63m.
LOTOS Kolej runs 120 freight trains every day, moving cargo in Poland and on international routes.