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Financial results of Latvijas Dzelzcels railway company improve in H1

BC, Riga, 20.08.2018.Print version
Financial results of Latvijas Dzelcels (LDz) railway company improved compared to the respective period last year, informs LETA.

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.


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