September 02, 2014

Newag first-half revenues up 37%

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POLISH rolling stock manufacturer Newag issued its first half results on August 29, with net profits rising 147% to Zlotys 35.8m ($US 11.1m) and revenue reaching Zlotys 391.9m, a 37% increase compared with the corresponding period in 2013.

Unconsolidated net profits reached Zlotys 35m with sales revenues of Zlotys 337.7m.

Newag says its first-half financial performance is in line with projections and its order backlog is increasing. The total value of contracts signed in the first half of this year was Zlotys 286.2m, and Newag has been selected as preferred bidder for contracts with a value of Zlotys 100m, which are due to be concluded before the end of the year.

Newag announced on August 26 that it had been awarded a Zlotys 98.6m contract to supply six 3kV dc EMUs to Warsaw suburban operator WKD. The trains will be delivered in 2016.

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