Estonia, Railways, Transport

The net profit of the last two months, October and November, totaled 719,000 euros. Due to the low goods volumes of the previous three quarters of the year and delayed decision to rent out railcars, a loss can be expected as a result of the whole year, EVR Cargo said.

"This year we made a significant investment into new rolling stock, which supports the railcar rent field in the future as well. We hoped to offer a positive business result already this year, but the volume of cargo carried decreased and due to different circumstances renting out our railcars was also unfortunately delayed by several months," CEO of EVR Cargo Raul Toomsalu said.

EVR Cargo in March expected a 500,000 euros profit for this year. "Even though the first months of the year have caused a loss for EVR Cargo, the company should reach a profit of more than half a million euros overall for this year. It has been known to us already that we will be making a loss in the first half-year and a profit later," the then EVR Cargo chairman of the supervisory board Toomas Toniste told BNS in March.