Cargo, Latvia, Port, Transport

The consolidated turnover of RTO holding last year contracted 20.5% from 2015 to EUR 175.329 million, and the holding reported a loss of EUR 197,493 in contrast to profit 2015.

The management of parent company Rigas Tirdzniecibas Osta said in the report that the profit was generated mostly from the capital of the holding’s subsidiaries and the management services provided to the subsidiaries.

In 2016, RTO subsidiaries reloaded 10.3 million tons of cargo, down 16.2% from a year before, and forwarded 11.1 million tons of cargo, down 10.5%. Cargo shipments by rail fell 27.3% from 2015 to 8.5 million tons last year.

Rigas Tirdzniecibas Osta reported a profit of EUR 20 million on EUR 305,146 turnover for 2015. The RTO holding, meanwhile, turned over EUR 219.324 million and earned a profit of EUR 100,340 in 2015.

A 60% stake in RTO belongs to MCH Investicijas, which in turn is indirectly owned by the families of former politicians Andris Skele and Ainars Slesers, according to information available at Firmas.lv.