Answers to media questions

Why the company decided to move operating activities to Gliwice?

(June 2011)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Despite the excellent cooperation and great sympathy that we have for Euroterminal, it must be said that terminal in Sławków practically reached saturation point and in its current form is not prepared for further dynamic growth in the volume. Basic condition for development of intermodal transport is that each train, each car and every container was handled at the terminal, according with the expectations of our customers: quickly, efficiently and reliably. Extending our terminal operations to Gliwice is just confirmation of what we are talking for a few years. In Poland, there’s a need for a modern terminal infrastructure, network of connections between terminals and reliable handling equipment. To further grow and develop activities in accordance with the strategy, increasing at the same time, year after year, the base of satisfied customers and the amount of freights, we must take such a business measures, that will allow us to consistently be a strong and stable link in the supply chain. Since 2009, PCC Intermodal is a publicly traded company - every day we are looking for the best logistics solutions for our customers, building goodwill toward the satisfaction of our shareholders. Terminal in the Silesian Logistics Centre in Gliwice is another decisive step and the next pulse to an even faster development.

Does this mean that you avoid plans to build a terminal in Sosnowiec?

(June 2011)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Definitely not. Our investment plans are included in the Company's growth strategy and we will pursue them consistently. Soon we will use the newly built terminal in Kutno.

When do you launch your terminal in Kutno ?

(June 2011)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

As we announced, we finish the construction works in August and officially open the Terminal Kutno in September.

And exactly when?

(June 2011)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Formal invitations, with the exact date and opening program we'll give to you within the next few days.

Well, but back to Gliwice. How the transfering operations from terminal in Sławków, where you had access to a wide track, relates to your plans for expansion to the east, Russia, Ukraine?

(June 2011)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

We practically did not had the occasion to use the access to wide track in Euroterminal in Sławków. As mentioned, the decision to transfer to Gliwice is provoked by the fact that the terminal in Sławków simply does not have the technical capacity to service the increasing number of trains and containers. Given this, it is difficult to talk about the dynamic growth and creating new connections (including to the east) to the terminal. Reloading to the wide track will be made at the border terminals (Brest / Grodno), while the terminal in Kutno will play a role “hub – terminal”, handling for both relations: east-west and north-south.

When exactly do you plan to move operations from Sławków to Gliwice?

(June 2011)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Officially we are entering the service terminal, in the Silesian Logistics Centre in Gliwice, from August this year. However the process of redirecting trains from Sławków to Gliwice will take place gradually, and we assume that it will take 2-3 months. It is possible that some trains will continue to be supported on ET in Sławków. As I mentioned, in September we launch terminal in Kutno. At the same time we begin terminal operations in Gliwice. Work is already underway in preparation for expansion of the terminal in Brzeg Dolny and to build a terminal in Sosnowiec. We continue to intensively seek investment area for the construction of an intermodal terminal in the region of south-eastern Poland and developing the concept of the Intermodal Container Yard in the region of Tczew. So in short look, that’s our plans for intermodal development in Poland in the next few years.

You have a very ambitious investment plans, but the main activity of PCC Intermodal is the realization of transports. What are your plans in this area, in the near future?

(June 2011)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Driving force of our transporting operations, and developing network will be launching terminal in Kutno. This modern object in the central Poland, will allow us to improve our regular connections from Rotterdam and the german ports (Hamburg / Bremerhaven), and extend them further towards the East (Moscow). At the same time, launching new relations to the south of Europe (via Sopron / Hungary) will offer regular connections between the Baltic port terminals (Gdańsk / Gdynia) and Adriatic (Koper).
Speaking of the intermodal, we must remember that it is impossible to separate investing in “point” infrastructure (terminals) from the development of network connections. The idea of intermodal is deposited on the synergies work. We combine the advantages of two transport modes (rail and truck) to provide customers with the most efficient delivery of cargo in containers. The main advantage of intermodal is to optimize the supply chain, both from the perspective of transport time and costs. Without the places where it is possible to efficiently reload cargo from trains to cars and vice versa, the development of the network connections would be inefficient. That is why, especially considering Poland’s excellent location, for the realization of intermodal transport in the domestic and international relations objects such as a terminal in Kutno are just necessary.

For PCC Intermodal today key investment is building reloadingand storage of container terminal in Kutno. Will it be build on time - still in this year?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

By reason of the spring and present weather conditions we anticipate to have our terminal finished in the second quarter of 2011.

How much will that terminal cost?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

On the first stage it will cost a little more than 40 million PLN.

What benefits will company have from the terminal In Kutno?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

First of all it is a great possibility of the future development. Now even if we would like to expand number of transported containers we have no place to load it from trains on to trucks and vice versa. In Krzewie, which is near to Kutno, we reload monthly about 1,5 thousand of containers, meantime we need to reload 4-5 thousands of containers. We will not be able to start our transport on East without the terminal in Kutno.

And which routes You plan ?

We consider initiating trains on the route Rotterdam - Herne - Frankfurt (Oder)-Kutno-Brześć-Moscow. We would like to have this route to covered in a week maximum. If everything goes according to the plane we will start that transportation in the second part of the year.

Company is preparing to another share issue. How much money do you want to acquire?

NWZA in that case will be on 21-th of December. Share issue is expected to 20 millions of shares, which at today's share price means value of emission surpassing 100 million PLN.

What are You going to intend such a big amount of money for?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

We intend to build modern reloading terminal in Brzeg Dolny so as to service the loads in the area of Lower Silesia. This investment could start and the end of next year and be finished at the turn of 2012 and 2013 year. Expansion of the terminal in Kutno is our next goal. Realization of second stage of this investment will let us double our reload abilities at the end of the 2013 year.

It will cost around 30 million PLN. We also have some grounds in Sosnowiec, where we plan to start a building of the third terminal in 2012 year. Finally we will assign part of money on buying railroad platforms used to transportation of the containers. Currently we use more than 400 different platforms and we own 122.

Will Waldemar Preussner, main shareholder, take part in that offer?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Rather not. PCC SE is and will stay main shareholder and planned share issue an issue with exclusion of conscription right.

It may discourage investors for purchasing of shares.

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

I do not really think so. PCC SE year ago also did not take part in the share issue, but nevertheless demand has turned out bigger than the offer. Moreover, people, who has bought shares on issue price 3 PLN that time and keep it until today will gain 100% rate of return.

Besides, we have signals from our investors all the time and they are eager to buy another values even now.

Have you already spend all the 20 million PLN from last year’s issue?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

All the money was assigned for the construction of the terminal in Kutno. We will start new offer after finishing the implementation of defined in prospect goal.

And when profits will appear at last? PCC Intermodal generates loss from beginning.

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

We count, that we will manage to have profits just in 4-th quarter. Next quarters should be only better.

What is actual structure of company’s income and is it going to change?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Today we gain arround 40 %of incomes from railway transportations and 30%from reloading and traffic transportations each. This structure will be similar in future. Perhaps participation of reloading will grow somewhat , because we will provide services in favor of external firms too in our terminals.

Which one among these services is the most profitable?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Unfortunatelly it is not easy to define. We provide most of our services on the basis of delivering our containers door to door of our clients. Mostly it means, that first we take the loads on the trucks, which transport it to the terminal where trains are being reloaded. Then we transport it to the next terminal, where loads hit the trucks agains and are transmitted to the target customer.

Such a service issue one bill, in which cost of the particular transportation and reloading is extracted.

However, how do you calculate your prices?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Of course. Generally we can say, that we put a premium on the reload and road transport services which is are outsourced and we earn very modestly on it. Definitely the worst situation is with transport by rail, because we bear very high costs connected with using the railway infrastructure, which belongs to the national tranposrter PKP PLK. Worse, we can not pass them on to the final customers, because road transporters offers low prices, which directly follows this, that they do not pay such a high fees for access to roads as we and railway do.

So why the hope of improving the situation and thus develop a net profit?

(December 2010)

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

At first we systematically increase our income. With increased scale of operations, we can better manage and reduce costs. We will have our own terminals, which will let us achieve higher margins on the handling and storage of containers. Finally modernization of railway lines let us transport our loads faster. Inspections of road transporters restrict unfair competitioninvolving crossing of the permitted time limit of drivers' work and carried cargo tonnage. It is important to remember about steadily increasing number of containers transported in Poland and in all East and Middle European region.

Does the concept of 'Trucks on tracks' make sense from an ecological perspective and is it possible to accomplish this?

(April 2010)
President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Intermodal transport – an effective and environmentally-friendly method of supply chain optimisation.
All of us would certainly like roads which are more spacious and provide greater safety, along with surroundings both clean and green. The transport policy of the EU – coherent and environmentally-friendly – is there to oblige and to assist in achieving the goal, precisely defining the direction and scope of the changes necessary and actions essential. There are at the same time various types of programme set up for support of both transport and the development / modernisation of rail infrastructure. Rail transport is without doubt one of the cleanest and safest forms of transport and it thus seems natural to transfer cargo from road to rail.

Unfortunately, without the decisive support of the rail transport sector there is no chance that Poland will be able to meet the standards set for European countries which limit the harmful influence of transport on the environment.

It is also important to understand the situation well and to maintain proper proportions. Among other approaches this means arranging the rules of the game such that rail transport and road transport complement and support each other, leading in the end to an improvement in the quality of the services provided as well as a reduction in transport costs and a positive influence on the natural environment.

This is precisely the whole origin and quintessence of intermodal transport – a modern and promising branch of transport in a unified Europe; very necessary, but still unappreciated in our country.
As such, the slogan 'Trucks on tracks' is an entirely reasonable and natural line to take... but without a long-term and consistent policy of support for intermodal transport on the part of the state it remains an empty slogan.

Intermodal transport

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Intermodal transport is not mass transport...

In western European countries it was found long ago that the development of intermodal transport is a matter key to the continued functioning of modern rail transport. In a few years intermodal transport will be a separate branch of transport embracing the best qualities of rail and road.
It is crucial that this approach to transport is properly understood and ceases to be ranked equally with the transport of coal, aggregates or lime. Intermodal transport does not fall into that segment which is mass transport of goods by rail. Differentiation of these distinct areas offers potential for rapid growth in the share intermodal transport holds in the movement of cargo.
For intermodal transport to develop in a manner befitting Europe, stable state policy is necessary. Among other things, therefore, this means similar charges for access to rail and road infrastructure in the transport of cargo in containers.
Intermodal transport in Poland today forms 2-3% of all rail transport and is treated as peripheral. For this to change and an average European level be reached at around 10 percentage points higher, an understanding of the specificity of this form of transport is needed along with a consistent policy of stimulating and supporting its growth.

What is intermodal transport exactly and is Gdynia a good place to run a firm?

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański

Intermodal transport – from the port to the door of the customer and vice versa
The Gdynia-based firm PCC Intermodal S.A. this year celebrates its fifth birthday. Organising the transport of cargo in containers by use of the intermodal method, it provides regular connections from central and southern Poland to the ports of both Gdańsk and Gdynia, as well as direct international connections with marine terminals in Hamburg, Bremerhaven and Rotterdam.
Intermodal transport is the movement of units of cargo (e.g. containers or swap bodies) from point A to point B using a minimum of two means of transport. In the case of PCC Intermodal this is the use of rail transport on long routes and road transport for local deliveries direct to the door of customers, the latter within a radius of several dozen kilometres of an inland transshipment terminal.

Gdynia is a natural place from which to conduct intermodal activities on account of both proximity to ports and marine terminals and a tightly focused community in the transport and logistics business. We are highly knowledgeable about the specifics of the work done by our customers and partners and this assists us in reacting flexibly to the needs of the market, solving rapidly and effectively the most challenging logistics problems and optimising transport processes.

For five years we have been developing. From a firm with just a handful of staff providing services solely to meet the needs of PCC Group we have become a leader on the domestic intermodal transport market. We are also the first and so far only company in the intermodal business to be listed on the Warsaw Stock Exchange. At our various facilities we employ a staff of over 100, more than 40 of which work at the office in Gdynia. Intermodal transport in Poland remains a barely recognised branch of transport and one not fully appreciated. Its share in rail transport in our country is a mere 2-3%, whereas in Europe it represents over 10% of all transport by rail. We are thus 'chasing' Europe and attempting as quickly as possible to improve these unfavourable statistics.

Since 2008 we have also provided transport on international routes. We offer trains to / from German ports (Hamburg and Bremerhaven), for which, similar to Gdańsk and Gdynia, there is a daily service, and to / from Rotterdam, which we serve three times per week.

While Gdynia is home to the headquarters of the firm, the operational branches are located inland. It is precisely there, at the inland terminals, that the essential transshipment operations take place. These are what enable the cargo to be distributed as appropriate and delivered ‘to the door’ of the customer at the address given.

When can investors expect the effects, and when do you expect the first results benefiting shareholders?

President of the Management Board at PCC Intermodal S.A. – Dariusz Stefański
The first results can be seen already I think. After several months on the stock exchange the value of shares in the company has grown by over 30%, and this means that an ever larger group of investors appreciates what we are doing and believes in the continuing rapid development of intermodal transport in our country. Modern transshipment terminals with a cohesive network of connections between them provide tremendous opportunities for expansion, both on transport routes introduced so far and through the setting up of new connections to the east (Ukraine, Belarus and Russia), as well as in the north-south corridor as part of the Adriatic-Baltic Landbridge.
Will there be a second issue?

We are not ruling it out, naturally; but no, not this year. At this time we are concentrating on completing our investment plans and strengthening our market position. We would like to remain undisputed leader on the domestic market for intermodal transport.

What should we wish PCC Intermodal?

President of the Board at PCC Intermodal S.A. – Dariusz Stefański

Perseverance, patience and consistency in achieving the plans adopted and – perhaps above all – a better understanding of the specificity of intermodal transport among our decision-makers.

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