In 2014, NEWAG Capital Group posted a net profit of PLN 78.4 million, thus achieving 98.9% of the financial results projected in the IPO prospectus. EBITDA reached PLN 136.7 million and was 67.2 % higher as compared with 2013.
The sales revenue figure reached a record high level in the amount of PLN 900.6 million, with PLN 897.2 million generated by product sales and PLN 3.4 million by sales of good and materials. As compared to 2013, the sales revenue was 32.3% higher (i.e., by PLN 220.1 million).
The biggest variation from the projected figures, namely –PLN 18.88 million was observed in the sales revenue figure. The Group, while preparing the forecast, assumed the sale of 11 IMPULS 31WE trains to Zachodnia Grupa Zakupowa. However, the Contracting Authority scheduled the handover of four trains for 2015. The difference was mitigated to a large extent by the contract for the supply of six IMPULS 36WEa trains to Koleje Dolnośląskie, which was finalised in 2014.
Despite the lower sales revenue figure, the net profit is only 1.1% lower than the projected figure. This has resulted from the costs of production of goods sold which were lower than the projected figure (including indirect costs).
EBITDA exceeded the projected figure by PLN 173 thousand.
Short-term liabilities due to loans were also lower by PLN186.4 million as compared with last year.
In 2014, NEWAG Capital Group concluded contracts amounting to PLN 520 million including three big contracts for the supply of electric multiple units. The first contract of the net value of PLN 66.2 million was signed with Koleje Dolnośląskie for the supply of six modern, three-car rail vehicles. The second and the biggest contract was signed last year with Koleje Mazowieckie which ordered 12 five-car IMPULS trains of the net value of 209 million. The third important contract was for the supply of six new electric multiple units for Warszawska Kolej Dojazdowa. The net value of this contract was PLN 79.86 million.
Research and Development
Last year, the family of IMPULS electric multiple units was enlarged by three-car trains which are TSI compliant.
Due to the implementation of the contract for the supply of 12 trains for Koleje Mazowieckie, design work on the five-car version of IMPULS 45WE electric multiple unit was concluded in late 2014. Thanks to this project, NEWAG will be able to offer low-floor electric multiple units with the configuration spanning two-car up to six-car vehicles. Just like the trains manufactured for Koleje Dolnośląskie, the IMPULS 45WE trains will be TSI compliant.
NEWAG Gliwice conducted work relative to the process of TSI certification for Griffin locomotive.