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Railcare has signed a 5-year agreement with LKAB Malmtrafik

MAR

LKAB Malmtrafik has signed a 5-year agreement with Railcare relating to transport of iron ore for the period 2025 to 2029. The agreement is worth an estimated SEK 70 million annually, totalling SEK 350 million. The agreement also includes an option for LKAB to extend the assignment for a further three years after the end of the agreement period, worth a potential SEK 210 million. If the need for transport changes, LKAB can cancel or reduce the scope of the agreement with some advance notice.

The new agreement relates to transport of iron ore for the period 2025 to 2029, worth an estimated SEK 70 million annually. It also includes an option to extend the transport assignment for a further three years after the end of the agreement period, worth a potential SEK 210 million. The agreement includes an option for LKAB to reduce the scope of the agreement to at least half capacity with six months' notice, as well as a mutual option to terminate the agreement at the earliest after two years with a notice period of 12 months, if the need for transport changes.
 
“We are delighted that LKAB has shown us this confidence, after having worked for the company on shorter assignments over the past few years. This long-term agreement offers confirmation that our customers prioritize delivery reliability in high-value transports, where the logistics are an important part of the value chain. The agreement ensures stability and a long-term approach in the transport operations,” Mattias Remahl, CEO explained.

Railcare carries out the transports using its own locomotives and drivers, and LKAB’s wagons. The locomotives are equipped with ETCS on-board systems, compatible with the new ERTMS signalling system.

This information is information that Railcare Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-10-16 08:45 CEST.

For further information contact:
Mattias Remahl, CEO
Telephone: +46 70 271 33 46
E-mail: mattias.remahl@railcare.se

Lisa Borgs, CFO and IR Manager
Telephone: +46 70 622 50 01
E-mail: lisa.borgs@railcare.se

About Railcare Group
The railway specialist Railcare offers innovative products and services for the railway; for example, railway maintenance with self-developed machines, a locomotive workshop, special transport and machine sales projects. Our market is mainly in Scandinavia and the United Kingdom. The railway industry is in a positive development with increasing traffic volumes, extensive investment programs, developing cost-effective freight and passenger transport, and rising environmental awareness. Railcare delivers both sustainable and efficient solutions that contribute to the railway, so it can be used for the maximum number of years to come. The shares of Railcare Group AB (publ) are listed on the Small Cap list of the Nasdaq Stockholm exchange. The Group has approximately 180 employees and annual sales of approximately SEK 550 million. The company's headquarters are in Skellefteå.

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Railcare has signed a 5-year agreement with LKAB Malmtrafik

Datum 2024-10-16, kl 08:45
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Railcare has signed a 5-year agreement with LKAB Malmtrafik
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