Good morning, ladies and gentlemen. Krzysztof Losz, press spokesman of PKP CARGO. I'd like to welcome you cordially to the earnings conference of PKP CARGO. I'd like to welcome the analysts, the journalists, the shareholders of our company, other persons participating in this webcast. During the conference, you will be able to pose any questions you have regarding the financial and operational results being presented. You can send your questions to our email address, which is relacje.inwestorskie@pkpcargo.com. So in the first three quarters of this year, we will hear a report from Jacek Rutkowski, a member of the management board responsible for sales. We would like to go ahead and ask you to present the results of PKP CARGO. Good morning, ladies and gentlemen. I would like to welcome you cordially to the earnings conference, summing up the results for the first three quarters of 2023.
The results we've commanded are satisfactory. We continue to improve the positive financial results compared to the negative results we've generated in previous years. Our results after the first three quarters of this year are as follows: During the first three quarters of 2023, we have carried some 62 million tons of cargo and doing a freight turnover of 16.921 billion ton- kilometers. Our revenue with contracts with customers have grown by 9% and were PLN 4.168 billion, generating PLN 102 million of net profit, in comparison with PLN 4.7 million of a loss in 2022 on an EBITDA result of PLN 853 million and a profitability of 20%. So our operating costs have grown by 4% to PLN 3.862 billion.
In 2023, we have made some pretty serious investments in rolling stock, above all, in rolling stock concerning multi-system locomotives, modernization and equipping our transshipment terminals. The total value of CapEx in the three quarters of 2023 was PLN 1.2846 billion. We are concentrating on improving the efficiency of our business activity in order to keep the costs we incur under control. So if we look at our operating results during the first three quarters of 2023, so we can say that the freight turnover was 16.921 billion ton kilometers and fell 16% year-on-year.
Unfortunately, the deteriorating market conditions, determined by the decline in demand for products in Poland and abroad, continues to have a material impact on or contributes materially to the declining carriage on all product groups. So if we look at solid fuels, we've seen a decline of 7.2%. Intermodal transport is continuing its decline, and year-on-year, it's down by 45.8%. So if we look at the construction materials and aggregates and chemical products, metals and ores, we continue to see declines of 3%, 19.3% and 34% year-on-year. If we look at basically our freight volume, we have carried some 13.6 million tons less than in three quarters of 2022, including hard coal and intermodal transport, which are responsible for 50% of that amount.
Unfortunately, in Q3, there's no rebounds visible in coal haulage, and this is something that we had counted on. This is caused primarily by the decline in demand from the energy sector as well as from private buyers. We also see coal being stockpiled in the seaports. Of course, the delay in the heating season, because of atmospheric conditions, has also contributed to that. After the first three quarters of 2023, PKP CARGO has incurred CapEx of PLN 1,284.6 million, so that's PLN 765 million more than in the corresponding period of 2023. The biggest portion of this CapEx in the nine months of 2023 and the overall group of PKP CARGO was earmarked for investment activities related to rolling stock.
And so we've spent money for repairs, modernization, and periodic checkups of the rolling stock. And this, we spent PLN 620.6 million on that, and we've spent PLN 191.5 million to purchase locomotives. And so in total, the CapEx, including leasing in the first three quarters of 2023 for rolling stock, was PLN 1,082.6 million, which is 84.3% of the total CapEx of the group. And so if we look at the headcount in PKP CARGO, we can say that it's falling year-on-year. At present, the group has 19,847 employees. We try to monitor the level of attrition among employees in terms of pension benefits, and we want to react properly to any staff shortages in a given business area.
We do quite a bit for our employees, and in consultation with the trade union organizations in October, we made the decision to confer a one-off award for employees in the amount of PLN 800 on a gross basis, which will be paid out by the 10th of December. And so let's go on to the financial results and the most important line items. So our revenue on contracts with clients have grown year-over-year by 9% and were PLN 4.168 billion, generating PLN 102 million of net profit on an EBITDA result of PLN 853 million. Our operating costs during the last nine months were PLN 3.862 billion, which is growth of 4% compared to the first three quarters of last year.
The two major components of these costs are actually more than half, is largely the costs of repairs, renovations of rolling stock linked from, shifting that back in time on account of COVID and the cost of headcount. We've also seen some adjustments in some of the key ratios. So the EBITDA per employee, linked to the improvement in profit and the decline in headcount, has grown year-on-year by 32.4% to 43 PLN. And so we have employee benefits per thousand ton kilometers, has grown by 36.1%. Energy and traction fuel have also grown by 29%. So the unit cost of access to infrastructure are more or less at the same level, at 21.3 per thousand ton kilometers. We have stable sources of funding.
On top of the PLN 216.8 million in cash, we have open lines of credit and lease lines for PLN 550 million more in PLN 550 million more in złoty, PLN 540 million. We continue to strive to improve the profitability of our operations, and this is visible in our results after the first nine months of this year. Our margin of EBITDA has grown to 20.3%, and that's an improvement of 3.5 percentage points year-on-year. So as we go through the slowdown or the cooling off of the economy and the decline in demand, we have felt the strong pressure in terms of freight volume and freight turnover in the first three quarters of this year.
Nevertheless, I believe that our experience will make it possible for us to build an attractive offer on prices that will give us profitable operations. We have ambitious plans, and we want to present them in our new strategy, which will show the directions of business growth for the group. We're addressing another important topic, which is ESG. So we'll take up a number of initiatives and very important initiatives, whereby our activities will be more sustainable, which is something we want to continue, and we have very ambitious goals here. In November, we officially launched the Multimodal Terminal in Zduńska Wola, Karsznice, which is a key element of our growth strategy. Thanks to the comprehensive network of logistics terminals, we are building a competitive advantage, and we will fulfill the expectations of our partners and clients.
We are currently using 25 transshipment terminals, including seven that are intermodal or combined functions of intermodal terminals and conventional terminals. Our terminal is located nearly in the geographic center of Poland and is on the crossroads of all the major important transportation routes, and so its activities will expand our comprehensive logistics services. So I'd like to thank you for your attention and to thank you very much. The guest of today's and the host of today's conference was Jacek Rutkowski, who is a management board member responsible for sales. Thank you very much.