The transport industry is at an ever-increasing turn
The consequences of the problems faced by representatives of the transport industry are becoming more and more serious.
The latest data presented by the Central Statistical Office (GUS) and the Central Economic Information Center (COIG) clearly indicate that the transport industry is increasingly feeling the consequences of growing financial problems. There was a smaller number of registered transport companies, an increasing number of companies subject to restructuring proceedings and an increasing number of entities that declared bankruptcy. The numbers reflect this. Well, last quarter there were 3% fewer transport entities registered than in the same quarter last year. Moreover, in the first quarter of 2024, of all entities that initiated restructuring proceedings (1,166), as many as 15% were transport companies. This puts them right behind trade companies (21%) and ahead of construction companies (14%). However, of all the companies (112) that declared bankruptcy in the first three months of this year, as many as 6% were transport companies.
Industry representatives identify the causes of the difficult situation. According to them, these are: reduced demand for the services they provide, limited scope of business activity due to the ongoing war in Ukraine, increasing business costs, including primarily employee costs and energy prices, and unequal competitive conditions. It is therefore not surprising that, trying to minimize the effects of existing difficulties, industry representatives take a number of actions. This is also the explanation for the growing number of restructurings being carried out. The success of such a procedure may prevent the closure of the business.
