Good for Business, Latvia, Railways, Transport
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Friday, 19.04.2024, 07:10
Financial results of Latvijas Dzelzcels railway company improve in H1
In the
first six months of this year LDz posted EUR 104 mln in net sales, up EUR 6.7 mln
year-on-year. The company’s profit after taxes reached EUR 13.6 mln, up EUR 5.7
mln year-on-year.
The company
explained that the stable financial results were ensured by the cargo volumes,
management processes and internal restructurization.
In the
reporting period the company carried 23.8 mln tons of cargo, and the company’s
train ran 4.8 mln kilometers. 14.7 mln tons of cargo were ensured in
cooperation with Belarus.
Import
cargos accounted for 81.2% of all cargos or 19.3 mln tons. The land transit
cargos accounted for 2.8 mln tons or by 66.4% more year-on-year, showing the
biggest growth.
Traditionally,
43% of transported cargo was coal, followed by oil and oil products (25.9%),
mineral fertilizers, grain and flour products.
Also, the
company carried 8.7 mln passengers, up 4.4%, running three mln kilometers.
The
company’s subsidiaries also posted stable results. LDz cargo responsible for
cargo and international passenger transportation, closed the first six months
with a 4.7% net sales growth at EUR 13.4 mln.
LDz Logistika carried 7,607 TEU containers, which is by 843
containers more than in the respective period last year.
LDz Ritosa Sastava Serviss (LDz Rolling Stock Service) closed the first six months with EUR
36.5 mln in sales, up EUR 2.5 mln or 7.4% from the respective period last year.
LDz Apsardze security services reached EUR 3.4 mln in
turnover.
LDz is a
fully state-owned enterprise managing public railway infrastructure. It
is the leading company of the LDz Group.