Our Business

Our capitals

Financial capital

Increasing cash flow from operating activity - safe financing structure

Available funding sources - as at 31 December 2017, PLN million

Debt structure (PLN million)

Total debt1,7911,702

Financial ratios


Cash flow (PLN million)

Cash flow20162017zmiana

Capital expenditures in 2017 - in line with market needs

Group PKP CARGO 2016Group PKP CARGO 2017Change yoyChange % yoy
Periodic repairs of rolling stock23135912855.5%
ICT development2016-4-19.2%
Investment construction activity19321368.3%
Purchase and modernization of locomotives and wagons244135-109-44.7%

Production capital

Land - owned, in perpetual usufruct and leased from other entities [ha]1 5731 584
Buildings - owned, leased and rented from other entities [sqm]749 492781 998

Intellectual capital

Production of wheel sets

In the Rolling Stock Repair Plant PKP CARGOTABOR in Zduńska Wola-Karsznice a modern line of wheel set production and repairs was put into operation. Thanks to the new investment the Plant will eventually increase the number of repaired units by as much as 150 per cent. The Rolling Stock Repair Plant PKP CARGOTABOR in Karsznice is one of the few in Poland to perform comprehensive repairs of wheel sets for wagons and locomotives. In 2013 the plant started the process of equipping car wheel sets with discs and in 2016 the Company’s engineers started work on their own construction. The project was completed successfully.

In connection with major demand for wheel sets the project assumed the production of a railway car set with the parameters most sought after in the market. Thanks to obtaining of appropriate certificates, the sets will be able to be marketed in the entire European Union. Also the plant in Zduńska Wola is to extend the catalogues of  products on offer. The Management Board of PKP CARGOTABOR decided to continue the construction process in the Plant. Currently intense work is in progress on certification of the next three types of wheel sets. There are also plans to extend the wheel set repair line for locomotives.


The PKP CARGO Group endeavors to ensure maximum client satisfaction by ensuring the high quality of its rail freight transport services in terms of availability, timeliness and safety, mindful of environmental protection considerations and adhering to stringent occupational safety and health and information security standards.

To accomplish this objective, the PKP CARGO Group has put into practice various management systems based on the following international norms and standards:

  • Quality Management System compliant with PN-EN ISO 9001/ČSN-EN ISO 9001;
  • Information Security Management System compliant with PN-EN ISO/IEC 27001;
  • Environmental Management System compliant with PN-EN ISO 14001/ČSN-EN 14001;
  • Occupational Safety and Health Management System compliant with PN-N 18001/ČSN OHSAS 18001;
  • Energy Management System compliant with PN-EN ISO 50001/ČSN-EN ISO 50001;
  • Food Safety Management System compliant with PN-EN ISO 22000;
  • Animal Feed Transportation Safety Management System compliant with GMP-FSA B4;
  • Welding Quality Management System for Metal Materials compliant with PN-EN ISO 3834-2;
  • Welding Quality Management System for Rail Vehicles and Their Components compliant with PN-EN 15085-2;

The Integrated Management System consisting of four primary subsystems, including the quality management system compliant with PN-EN ISO 9001/ČSN-EN ISO 9001, the information security management system compliant with PN-EN ISO/IEC 27001, the occupational safety and health management system compliant with PN-N 18001/ČSN OHSAS 18001 and the environmental management system compliant with PN-EN ISO 14001/ČSN-EN 14001, is in place in PKP CARGO S.A. and its subsidiaries PKP CARGO SERVICE Sp. z o.o. and AWT a.s. (in AWT a.s. without the information security management system).  PKP CARGO SERVICE sp. z o.o. (in 2017) and AWT a.s. (in 2016) also implemented the Energy Management System compliant with the requirements of ISO 50001.

PKP CARGO CONNECT Sp. z o.o., in addition to the Quality Management System compliant with PN-EN ISO 9001, also maintains the Food Safety Management System compliant with ISO 22000, and since 2017 has been certified by the European Chemical Industry Council (CEFIC) in accordance with the Safety and Quality Assessment for Sustainability (SQAS), a specialized quality standard for distribution, storage and transportation of chemicals. SQAS is a tool for examining and determining the safety and quality level of operational activities performed during the handling of chemicals, either inert or hazardous or special-risk materials. Such examination is performed by independent SQAS assessors accredited by CEFIC. For logistics companies, SQAS serves as a supplement to the ISO 9001 and ISO 14001 requirements. SQAS certificates are also held by members of the AWT Group – for transportation of chemicals (2017) and cleaning of wagons (2016). The AWT Group has also implemented the GMP-FSA B4 standard dealing with the transportation safety of animal feed materials.

PKP CARGOTABOR Sp. z o.o. has in place quality management systems applicable to repairs and maintenance of rolling stock, supplementing the Quality Management System compliant with PN-EN ISO 9001, namely the Welding Quality Management System for Metal Materials compliant with PN-EN ISO 3834-2 and the Welding Quality Management System for Rail Vehicles and Their Components compliant with PN-EN 15085-2.

Moreover, PKP CARGO S.A., PKP CARGO CONNECT Sp. z o.o., AWT a.s. and Cargosped Terminal Braniewo Sp. z o.o. have the status of AEO (Authorized Economic Operator), which validates the company’s compliance with a number of criteria, including above all: compliance with customs requirements, having in place a proper system for the management of commercial and transportation records enabling proper customs inspections, being financially solvent, having in place appropriate security and protection standards, documented by previously obtained certificates, such as ISO 27001. The AEO status entitles the holder to certain facilitative benefits related to customs inspections, such as: priority service in the event of selection for an inspection, fewer physical and documentary inspections and the ability to apply for an inspection at a place other than the customs office. 

The precautionary principle is also put into practice through the deployment and operation in the PKP CARGO Group of the following basic systems for ensuring safety in rail transport based on the provisions of national and international law, which is of great significance for the PKP CARGO Group’s freight transport business:

1) Safety Management System (SMS)

Rail operators and rail siding users are required to fulfill technical and organizational conditions that ensure the following: safe operation of railroad traffic, safe operation of railroad vehicles, fire safety and environmental protection.

The document authorizing a rail operator to obtain access to rail infrastructure is the Safety Certificate, which specifies the type and scope of railroad operations and consists of: (i) the part approving the safety management system, valid throughout the territory of the EU (Part A) and (ii) the network part approving the regulations adopted by the rail operator with a view to satisfying the requirements necessary for the safe provision of rail services on the given rail network (Part B). The PKP CARGO Group holds Part A of Safety Certificates issued in Poland and the Czech Republic and Part B of Safety Certificates issued in Poland, the Czech Republic, Germany, the Netherlands, Austria, Hungary, Lithuania and Slovakia.

2) Maintenance Management System (MMS) for freight wagons

The possession and proper implementation of the MMS is mandatory for all enterprises responsible for maintenance of freight wagons and is the necessary condition for running this type of business, while being subjected to supervision of national regulators within the EU, including the Office of Rail Transport. The MMS entails a systemic approach to organizing and supervising operations to ensure rail traffic safety through maintaining good technical condition of the freight wagons for which the PKP CARGO Group is responsible.

On the basis of its approved MMS, in 2013 PKP CARGO S.A. received the Entity in Charge of Maintenance Certificate (ECM Certificate) confirming its approval in the European Union.

Thanks to the implementation of the MMS and obtaining the ECM Certificate, PKP CARGO S.A. may currently conduct maintenance of freight wagons on its own or through commissioning their maintenance to other companies, including to its subsidiary PKP CARGOTABOR Sp. z o.o.

Besides PKP CARGO S.A., other holders of the ECM Certificate are PKP CARGO SERVICE Sp. z o.o., PKP CARGOTABOR Sp. z o.o. and members of the AWT Group.


Policy applied by members of the PKP CARGO Group to social issues – examples of actions:

  • Bylaws for financing social undertakings by donations and sponsorship in subsidiaries of the PKP CARGO Group
  • Partnership Dialog Workshops, social dialog based on the principles contemplated in the generally binding laws, the Company Collective Bargaining Agreement and the agreements defining the mutual obligations of the parties to the social dialog.
  • “Social Responsibility Code”

Policy applied by members of the PKP CARGO Group to employee-related issues – examples of actions:

  • “Working parent” guide
  • “Recommend an Employee” program
  • Career Day
  • “CARGO WITA” [‘WELCOME TO CARGO’] adaptation program
  • Training and Development

Policy applied by members of the PKP CARGO Group to environmental issues – examples of actions:

  • Environmental policy
  • Raising employees’ awareness of their responsibility for the quality of the natural environment
  • “Environmental and energy issues” regulation

Policy applied by members of the PKP CARGO Group to issues related to respect for human rights – examples of actions:

  • Labor Bylaws
  • Anti-mobbing Committees
  • Trustees
  • Code of Conduct with Suppliers
  • Anti-mobbing and Antidiscrimination Procedure

Policy applied by members of the PKP CARGO Group to counteracting corruption and bribery – examples of actions:

  • Procedure for Dealing with Corruption Risks at PKP CARGO S.A.
  • Whistleblower status
  • Gift acceptance and offering policy

Rules for conducting negotiations with external entities


The PKP CARGO Group provides space for the development and achievement of professional ambitions, a guarantee of stable working conditions and a friendly atmosphere, founded on respect, ethics and best practices. The PKP CARGO Group’s expertise is based above all on the knowledge and experience of its employees who build the success of the organization. Employees have at their disposal an extensive system of training and competence development. The Group employs very highly trained train engineers. The Group’s experienced staff responds skillfully to market challenges, thus enabling the Group to grow and achieve its objectives on a day-by-day basis.

PKP CARGO’s success is forged by humans, which is why every employee is so important to us.

The percentage of employees of the PKP CARGO Group covered with collective bargaining agreements is 90%.

Legal forms of employment in the PKP CARGO Group (as at 31 December 2017)

Legal forms of employment in the PKP CARGO Group (as at 31 December 2016)

Structure of employment contract in the PKP CARGO Group - by sex (as at 31 December 2017)

Structure of employment contract in the PKP CARGO Group - by sex (as at 31 December 2016)

Prizes and awards

“Leader in Human Resources Management”

PKP CARGO was awarded twice (in 2009 and 2012) in the prestigious contest “Leader in Human Resources Management” held by the Institute for Labor and Social Affairs.

“Trustworthy Employer”

“Trustworthy Employer” – the title conferred on the Company in a contest held by the Polish Chamber of Commerce. The jury appreciated the style of human resources management at PKP CARGO. It is a confirmation of the fact that caring for employees and implementing modern solutions in employee policy generates the expected results.

“Passion of New Generations” campaign

The PKP CARGO Group employs wonderful people passionate about their hobbies and interests. They are the heroes of the PKP Group’s image campaign carried out under the slogan “Passion of New Generations”


Train dispatcher, PKP Cargo. With PKP since 1985. Collects railway-themed postage stamps from around the world.


Foreman, PKP Cargo. With PKP since 1986. Amateur carpenter in his leisure time.


Head of the Transport Logistics Department, PKP Cargo. With PKP since 1980. Her passion is to write books.


Environmental Protection Inspector, PKP CARGO. With PKP since 1975. Passionate about physical activity, a marathon runner.


Traction dispatcher, Electronic Logistics Book moderator, PKP Cargo. With PKP since 1975. His hobby is model-making – he has made 40 plastic models of PKP locomotives.


Business values


We generate economic value for our clients and we take responsibility for the outcomes of what we do. We respect our partners and shareholders, the environment and the local communities in which we operate.


We run our business with both feet on the ground while seeking to interconnect various industrial sectors. We are well-aware of the critical contribution we make in developing the economy. We fully leverage our experience and tradition, thereby offering certainty of execution in even the most complex logistic chains.


We relentlessly look for modern solutions. By tapping into the synergy inherent in our skills and resources, we open logistic gateways to Europe, thereby offering our clients more diverse market opportunities.


We are ubiquitous. Our unrivalled skills and resources give us the ability to react rapidly and suitably to changes in real time.


Energy is the driving force behind growth. By striving to excel, we are open to new opportunities while preserving harmony between balance and rapid growth.


For the PKP CARGO Group, corporate social responsibility is an integral part of its day-to-day business. In its economic endeavors, the Group constantly strives to take into consideration the social interests involved. These types of activities cannot be quantified in spreadsheets, but it is worth keeping in mind that in the long run the benefits of socially responsible activities may be tremendous. The market is growing ever more aware, meaning that relationship building requires more than simply fulfilling the obligations arising from the executed contracts.

The Group remains active in the field of promoting railways and rail transport. It responds to the growing interest among families with children and railway enthusiasts in attending events that explain the world and history of rail transport. With them in mind, a series of educational events is held under the label “Summer with Steam Locomotives” or “Steam Locomotive Parade” in Wolsztyn. Such events have an enormous educational meaning – their participants expand the horizons of their knowledge by learning, for instance, about issues related to railway safety or the mechanisms and principles involved in setting steam locomotives into motion.

PKP CARGO also restores the original coloring of selected locomotives, treating it as an important element of caring for the preservation of the railway heritage.

In keeping with the principles of a socially responsible business, the Group’s activities are pursued in cooperation with employees. Examples of these include the “Poland Business Run” initiative of charity runs or events explaining the work of a railway employee to young students and children. Activities have also been undertaken to increase the level of safety in rail traffic. A special psychological support helpline has been set up for employees of train crews and members of staff dealing with traffic management and safety.

Environmental impact

Keeping in mind the significance of rail transport safety, which is not only a legal requirement but also an issue of superior value and a key condition for the sustainable development of the railway industry, on 21 April 2016 PKP CARGO SERVICE sp. z o.o. and on 3 July 2017 PKP CARGO Centrum Logistyczne Małaszewicze Sp. z o.o. became the signatories of the “Declaration on the development of the railway transport safety culture”. The Declaration is an initiative of the Office of Rail Transport and its purpose is to improve the safety of the whole railway system. The document has been signed by representatives of approx. 90 entities, including rail operators, infrastructure managers, state administration and scientific institutions.

Social impact:

  1. The PKP Group, including PKP Cargo, is among the largest employers in Poland;
  2. PKP Cargo generates demand for qualified staff (train engineers);
  3. Safety in land traffic;
  4. Employee safety;
  5. A portion of the taxes paid by PKP Cargo support local governments

Organizations and associations

In 2017, PKP CARGO S.A. was a member of the following organizations and associations:

  2. Association of Railway Employers,
  3. Association for the Promotion of Sport, Tourism and Culture “Kolejarz” [Railwayman],
  4. Association of Stock Exchange Issuers,
  5. GCU Bureau                        

In 2016-2017, PKP CARGO S.A. participated in the work of the following international railway organizations, of which PKP S.A. is a member:

  1. UIC – International Union of Railways, 
  2. CER – Community of European Railway and Infrastructure Companies,
  3. OSJD – Organization for Cooperation of Railways,
  4. FTE – European Railway Forum,
  5. CIT – International Rail Transport Committee,
  6. TRANSSIB – International Council for Transport on the Trans-Siberian Railway,
  7. FIP – Association for International Reduced Transport Rates,


  1. Association of Railway Employers,


  1. Association of Railway Employers,
  2. Association for the Promotion of Sport, Tourism and Culture “Kolejarz” [Railwayman],


  1. FIATA - International Federation of Freight Forwarders Associations,
  2. AHK – Polish-German Chamber of Industry and Commerce,
  3. PISiL – Polish Chamber of Freight Forwarding and Logistics,
  4. Short Sea Shipping,
  5. KIGM – National Chamber of Maritime Economy,
  6. ZPK – Association of Railway Employers

PKP CARGO Centrum Logistyczne Małaszewicze Sp. z o.o.:

  1. Association of Railway Employers,

AWT Group:

  1. Confederation of Industry of the Czech Republic (Svaz průmyslu a dopravy ČR),
  2. Transport Union (Svaz dopravy),
  3. Czech-Polish Chamber of Commerce (Česko-Polská Obchodní Komora),
  4. Czech Logistics Association (Česká logistická asociace),
  5. Hafen Hamburk Marketing,
  6. Chamber of Commerce of the Moravian-Silesian Region (Krajská hospodářská komora MS kraje),
  7. Association of Safety Advisors and Experts (Asociace bezpečnostních poradců a znalců),
  8. Czech Treasury Association (Česká asociace Treasury),
  9. People Management Forum,
  10. Association of Forwarding and Logistics in the Czech Republic (Svaz spedice a logistiky),
  11. Association of Owners and Operators of Rail Cars (Sdružení držitelů a provozovatelů železničních vozů),
  12. Association of the Czech Chemical Industry (Svaz chemického průmyslu),
  13. Czech Association of Cleaning Stations (Česká asociace čistících stanic),
  14. Employers’ Union of the Mining and Oil Industry (Zaměstnavatelský svaz důlního a naftového průmyslu),
  15. GCU Bureau,
  16. Association of Transport Agencies of the Czech Republic (Sdružení dopravních podníků ČR),
  17. Association of Rail Freight Carriers of the Czech Republic (ŽESNAD)

Natural capital

Implementation of the Company’s strategy is based on adapting its resources and organization to the requirements of the contemporary transportation market, taking into account the principles of sustainable development, in accordance with the adopted policy of the Integrated Management System (IMS): quality, occupational health and safety, environmental protection.

The Company’s environmental policy forms an integral part of its overall corporate management system. The strategic objective for responsible actions taken by PKP CARGO S.A. in the field of environmental protection is to ensure a safe carriage of merchandise using rolling stock that meets the applicable environmental requirements. The Company invests both in the purchases of new rolling stock and in the modernization of its existing rolling stock as well as in maintenance and repair facilities and devices for diagnostics of the Company’s rolling stock. These efforts are aimed at achieving high standards of rolling stock maintenance and protecting the natural environment against the possible consequences of breakdowns and accidents involving the Company’s rolling stock.

In the process of environmental review (conducted on an annual basis), the effects of the Company’s environmental initiatives are evaluated and specific environmental targets and tasks are formulated for subsequent years according to criteria selected based on:

The environmental review process

The organization's environmental impact:

  • Consumption of raw materials and energy;
  • Waste production;
  • Emissions to the atmosphere;
  • Noise emission;
  • Reclamation of post-mining areas;
  • Promotion of railways as an ecological form of transport vs. road transport;
  • Transport of dangerous materials;
  • System failures and rolling stock accidents - the risk of environmental contamination

 The Company diligently monitors all environmental aspects considered to be significant. The following is the list of such significant aspects in 2017:

  1. Potential risk of a release of hazardous substances into the environment during the carriage of hazardous cargo and waste;
  2. Failures of installations and equipment resulting in a potential risk of a release of hazardous substances into the environment;
  3. Emissions from burning solid fuels in boiler plants that use such fuels;
  4. Consumption of diesel fuel for traction purposes and fugitive emissions from fuel combustion by locomotives;
  5. Fugitive emissions of volatile organic compounds (technological processes) from the installations that are subject to emissions standards;
  6. Traction electricity consumption and emissions from the consumption of traction electricity;
  7. Discharges of sewage into the sewer system;
  8. Discharges of rainwater and snowmelt into waters and soil;
  9. Discharges of sewage into waters and soil;
  10. Management of hazardous waste;
  11. Potential spills during the storage and transshipment of hazardous waste;
  12. Historical contaminations;
  13. Emissions of noise from traction rolling stock and rail cars.

The objective of the monitoring of significant aspects is not only to gain knowledge of the magnitude of impacts on the natural environment by tracking certain assumed indicators but also to implement the environmental protection program in order to improve the emission indicators (energy intensity).
Year by year, through the introduction of objectives and tasks in significant areas in relation to the adopted classification criteria, the Company keeps reducing its environmental impact.

Air emissions by the Group in 2016-2017

ElectricityTotal emissions [Mg]
Sulfur dioxide1,1591,151
Nitrogen dioxide3,4183,172
Carbon oxide758807
Carbon dioxide527,787518,342
Dust and soot262259
Total hydrocarbons455356

Waste produced by the Group, by main type and volume, in 2016-2017

Name of wasteWaste codeWaste amount [Mg] in 2017Waste amount [Mg] in 2016
inventory at the end of
Preceding periodReporting periodPreceding periodReporting period
Slag, bottom ash and boiler dust (excluding boiler dust mentioned in 100104)10 01 01364.674195.308318.846364.674
Wastes from turning and sawing of ferrous metals and their alloys12 01 01133.430115.800204.139133.430
Mineral engine and transmission oils13 02 05*27.3798.05032.30827.379
Other engine, transmission and lubricating oils (lubricants)13 02 08*28.21624.82032.94828.216
Worn-out clothes and cleaning cloth15 02 02*24.13613.03714.75024.136
Zużyte lub nienadające się do użytkowania pojazdy16 01 04*81,0400,0000,00081,040
Worn-out or unusable vehicles, not containing liquids or other hazardous elements16 01 065,184.9000.0006,896.0505,184.900
Ferrous metals (scrap)16 01 173,194.5944,244.6585,521.8623,194.594
Other waste, not mentioned elsewhere16 01 99117.711127.88734.248117.711
Lead batteries16 06 01*19.9028.8404.39519.902
Iron and steel17 04 0521.69615.95152.54921.696

Expenditures incurred for environmental Protection in Group:

Expenditures incurred for: [PLN thousand]20172016
Air protection, including:8,627.0613,023.56
boiler plants1,026.68855.40
technological processes247.57206.03
vehicles and machinery6,536.6611,308.88
steam locomotives7.2613.23
Water protection, including:5,575.365,894.45
water intake386.18431.50
transport of sewage105.13293.71
conveyance of rainwater and snowmelt4,978.864,977.66
Cutting trees and bushes188.82167.47
Protection of the earth’s surface0.32108.05
Waste management4,765.4113,945.56
Other costs for environmental protection138,707.57249,414.88