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The TSL industry is in financial trouble – record insolvent
The continuing predominance of pessimistic moods among representatives of the TSL industry is confirmed by the Monthly Business Conditions Index of the Polish Economic Institute. In July this year the percentage of TSL companies with sufficient financial liquidity for more than 3 months decreased from 58%. up to 49 percent (m/m). There was also a decline in the share of companies with an increase in sales value and the number of new orders.
In turn, nearly 1/5 of TSL entrepreneurs believe that the general situation in their company will deteriorate in the next three months. The biggest barrier to running a business for the TSL industry are employee costs – which can be seen in MIK measurements. From the beginning of 2024, the highest percentage of indications concerns employee costs, but there is also a high share of entrepreneurs who, in addition to economic uncertainty, are bothered by payment backlogs and energy costs – reports the Polish Economic Institute.
The TSL industry is important for the Polish economy as it generates approx. 6%. GDP, and data from the Central Statistical Office show that in February 2024, nearly 1 million people worked in the Transport and warehousing section. What may be disturbing is that, according to data from the National Debt Register, nearly 200 transport-related companies announced bankruptcy already in the first quarter of 2024 (in the whole of 2023, it was about 500).
There are many opinions that narrow specialization, consolidation and the Central Communication Port could save TSL companies. Only medium and large transport companies are able to compete with similar European ones. If not mergers, another solution may be atypical transports, which, due to the high risk, large companies are reluctant to provide. However, the greatest development impulse for the TSL industry would come from improving transport capacity and logistics infrastructure as part of the CPK investment – estimates the Polish Economic Institute.
