Torpol with PLN 3 bln backlog

WSE-listed construction firm Torpol backlog amounts to PLN 3.06 billion the company said in a market filing. “The record-high backlog will allow us to steadily achieve sales revenues in Poland in the coming years at the level of PLN 1 billion annually. We want to strengthen our position as one of the leading contractors on the railway infrastructure construction market in Poland, as well as further build its position and recognition on the Norwegian market. At the same time, we intend to develop the activities of other construction industries in order to gradually diversify our operations,” said Torpol CEO Grzegorz Grabowski. This year, Torpol plans to invest some PLN 23 million to purchase equipment and machinery for modernization of railway lines, vehicles for repair and assembly of traction networks and means of transport. In 2017, the company posted a PLN 26.8 million net loss.