Our Business

Calendar

January

  • Signing of an annex to the investment loan agreement with Pekao S.A. (extension of the loan availability period for Group companies).

March

  • Signing of an annex to the investment loan agreement with BGK (availability until 27 December 2017, loan amount of EUR 67.8 million).
  • Early repayment of a loan obtained from the European Bank for Reconstruction and Development.
  • Group companies entered into an investment loan agreement for up to PLN 50.5 million with Pekao S.A. The loans were originally available until 19 March 2017. The final repayment date is 20 December 2021.
  • Settlement of the purchase of PKP CARGO S.A. shares – TFI PZU funds hold 2,302,843 shares representing 5.14% of the Company’s share capital.

April

  • The Regional Court in Ostrava published a draft OKD a.s. restructuring plan.
  • PKP CARGO S.A. received the title of the “Transparent Company of the Year 2016”.

May

  • Minezit SE demanded that PKP CARGO repurchase all its shares in AWT (15,000 shares representing 20% of the share capital). The purchase price is EUR 27 million.
  • Signing of an agreement for transportation of coal for Enea Wytwarzanie from the Lubelski Węgiel “Bogdanka” coal mine to the Kozienice Power Plant (5.3 million tons of coal over a period of 14 months).
  • Signing of a current account overdraft agreement with Pekao S.A. for up to PLN 100 million.

June

  • Signing of an agreement with Minezit SE for the execution of a joint venture project involving the lease of rolling stock and a deferred settlement of the put option price for 20% of shares in AWT.
  • Granting of EUR 1.8 million in public aid to PKP CARGO S.A. for the project entitled “Acoustic upgrade of cargo wagons to ensure compliance with functional and system requirements”.
  • Signing of an arrangement between the parties to the Company-Level Collective Bargaining Agreement regarding a wage increase effective as of 1 September 2017.
  • Signing of annexes to agreements with members of the ArcelorMittal Group extending the term of the agreements until 30 June 2020. The value of cooperation in the period from 1 July 2017 to 30 June 2020 is approx. PLN 1.3 billion.

July

  • Signing of a memorandum of cooperation by PKP CARGO S.A. and ZMP Gdańsk S.A. with CFR Marfa, a Romanian state-owned cargo carrier, and the Port Authority of the Romanian port of Constantza.
  • Launch of a modern line for wagon wheel set production and repairs in the Rolling Stock Repair Plant of PKP CARGOTABOR in Zduńska Wola-Karsznice.

August

  • Meeting with a delegation of Chinese Henan province devoted to the Group’s collaboration with the province’s key container terminal – Zhengzhou International Hub Development and Construction Co., Ltd.
  • Adoption of the OKD restructuring plan by the Meeting of Creditors of OKD a.s.

September

  • Assumption of the management of Nordea OFE by Aegon PTE S.A., as a result of which the funds managed by Aegon PTE hold a total of 2,499,979 shares in the Company, representing 5.58% of its share capital.
  • PKP CARGO CONNECT received a refund of the paid overdue tax liability from the Tax Office. Following a risk analysis, the Parent Company’s Management Board decided to recognize a provision in the amount of the refund received.

October

  • Withdrawal by Minezit SE from the executed agreement on the establishment of a joint venture and summoning of PKP CARGO S.A. to pay the put option price, i.e. EUR 27 million, within 20 business days from the date of receipt of the withdrawal notice.
  • Signing of a guarantee facility agreement with Credit Agricole Bank Polska S.A. with a limit of PLN 60 million.
  • CARGOTOR signed an agreement with SYSTRA S.A., which will prepare the feasibility study for the Modernization of rail infrastructure at the Małaszewicze Transshipment Zone of the corridor of 8 cargo lines at the border of EU and Belarus”.
  • The Regional Court in Ostrava accepted the restructuring plan for OKD a.s.
  • Receipt of a summons from Minezit SE to participate in the execution of a notary deed on 2 November 2017 in Amsterdam in order to pay the put option price.
  • Tendering of a resignation by Maciej Libiszewski (President of the Management Board) and Arkadiusz Olewnik (Management Board Member in charge of Finance). Appointment of Witold Bawor as Management Board Member in charge of Operations. Secondment of Krzysztof Mamiński to discharge the duties of the President of the PKP CARGO S.A. Management Board.

November

  • By decision of the President of the Office of Rail Transport, a fine of PLN 101 thousand was imposed on PKP CARGO S.A. for conducting operations in the years 2007-2013 without a required document, i.e. “Safety authorization”. Currently, the Company is considering filing an appeal to the Regional Court in Warsaw.
  • Signing of the notary deed and payment of the put option price. PKP CARGO S.A. became the holder of a 100% stake in the share capital of AWT B.V.
  • Signing of an agreement with PKP PLK on the use of throughput capacity to transport objects in the train timetable 2017/2018 in force from 10 December 2017 to 8 December 2018. The expected value of the agreement in during its term of validity is PLN 631.9 million net (PLN 777.3 million gross).
  • Receipt of a notice from Aegon OFE stating that it exceeded 5% of the total number of votes in the Company in connection with the completion, on 17 November 2017, of the liquidation of Nordea OFE and the transfer of all Nordea OFE assets to Aegon OFE.

December

  • Launch of a recruitment procedure for the position of President of the PKP CARGO S.A. Management Board and Management Board Member in charge of Finance Distinction for PKP CARGO S.A. in the contest organized by the Office of Rail Transport for “promoting the Post-Accident Psychological Support program as part of which comprehensive psychological support is provided to employees directly associated with conducting rail traffic and rail traffic safety”.
  • Signing a contract with Tauron Wydobycie for the transportation of 11 million tons of coal in 2018-2019 for a total gross amount of PLN 227 million.
  • Signing of a contract with Knorr-Bremse Systemy Kolejowe Polska Sp. z o.o. for deliveries of LL composite brake blocks.