Lithuania, Railways, Transport
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Saturday, 20.04.2024, 12:17
Lithuanian Railways' net profit falls by 28% in 9 months
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Revenue fell by 5.3% to 317.079 million euros, the state railway operator said in its report for January though September.
"The company's revenue fell by 10.7 million euros due to a decrease in shipments in the Kaliningrad direction. A marked decline in freight railcar lease and repair volumes and a drop in demand for scrap metal led to a decrease in revenue from other services," it said.
Revenue from freight transportation services and the use of railway infrastructure fell by 2.6% to 273.6 million euros and revenue from passenger, baggage and mail transportation services were down by 7.2% to 18.4 million euros. Revenue from other services slumped down by 26.3% to 25.1 million euros.
Lietuvos Gelezinkeliai handled 35.3 million tons of freight during the three quarters, down 2.2% from 36.1 million tons a year earlier. Passenger numbers fell by 7.6% to 3.2 million.
The company invested 162 million euros during the nine months, including 59.7 million euros in EU funds.
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