OT Logistics had respect. approx. PLN 34 million net profit, approx. PLN 43 million EBITDA in the first half. 

OT Logistics recorded an estimated PLN 34 million net profit, around PLN 43 million EBITDA in the first half of 2022, stated the company.

The company recorded net sales revenue of approximately PLN 148 million.

The net profit value regardless of market conditions results in part (approximately PLN 21.6 million) from the revaluation of some of the Company's assets and may therefore not be of a lasting nature in this part. Taking into account the above estimates, the improvement of the market environment and the positive effects of the restructuring of the company, the Management Board concluded that the actuality had lost the estimates of annual results presented in the current report 8/2022. Analysis of the current market situation indicates a high likelihood of maintaining or even strengthening the above described growth trend" - the Communication states.

The first half-year report will be published on 27 September 2022.

In February this year, the company informed that as part of the strategy's update, after excluding part of the freight forwarding activity from consolidation, as a result of the sale of C.Hartwig Gdynia, in 2022 the OTL Group plans to obtain about PLN 300 million in sales revenue.

More than PLN 200 million, i.e. around 68 percent of the value of this sale will be port services. The Management Board assumes that, after taking into account the cost optimization effects, this will allow to achieve over PLN 45 million of EBITDA and over PLN 19 million of net result at consolidated level.

Source: ISBnews