Q3 2020 PKP Cargo SA Earnings Call Transcript
Good morning, ladies and gentlemen, I would like to welcome you at the conference that is dedicated to the financial results of PKP CARGO Group for Q3 2020. We continue to face epidemic restrictions. Therefore, this is the first meeting that we have in the online format. In May, we organized the first conference of this type, but it seemed that the COVID-19 pandemic will actually disappear fairly fast. But the reality is much tougher, and lockdown had a huge impact on the economy and the transportation sector. While the curtailed economic activity of the country and the shutdown of many industrial sectors contributed to the curtailment of freight turnover, that was coupled with the declining demand for electricity in Q2. We generated less demand for coal from the power sector. And as a result, there was less demand for the rail freight for cargo companies.
In Q3, PKP CARGO Group started to rebound and covered up the losses caused by the pandemic. I will discuss the financials shortly. But our revenue for Q3 was over
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