Public Joint Stock Company Ukrainian Railways (Ukrzaliznytsia), established by the State Administration of Railway Transport of Ukraine, posted a loss of UAH 16 billion last year, primarily due to exchange rate fluctuations of the hryvnia against major currencies, according to a post published on the Government website.
”Accordingly, the company`s revenues increased by UAH 10.7 billion (21.6%), compared with 2014, to UAH 60.1 billion,” the statement read.
Revenues from transportation of cargo grew by 25% to UAH 49 billion and revenues from transportation of passengers and baggage were up by 14.1% to UAH 6 billion, according to the report.
The company`s operating expenses rose last year by 17.5%, compared with 2014, to UAH 54.3 billion, while operating profit increased by 80% to UAH 5.8 billion.
”Amid the increased inflation growth rates and the higher prices of spare parts and materials, the financial and economic activity of PJSC Ukrzaliznytsia has enabled it to fulfill its financial obligations under loans and contributions to the state budget, and ensure timely payment of salaries to employees. The company has made every effort to mitigate the impact of external factors on its financial position and the staff,” the statement said.
The company noted that its financial plan for 2016 projects profit at UAH 98 million, total income at UAH 78.4 billion, gross profit at UAH 7.9 billion and EBITDA at UAH 26 billion.
UNIAN memo. Public Joint Stock Company Ukrainian Railways carries out 82% of cargo and approximately 50% of passenger transportation in the country using all types of transport. The Ukrainian Railways ranks fourth on the Eurasian continent in terms of cargo transportation volumes, second only to the railways of China, Russia and India.
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