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International Internet Magazine. Baltic States news & analytics Thursday, 19.07.2018, 07:05

Lithuanian railways ups 2017 revenue to EUR 444 mln

BC, Vilnius, 12.01.2018.Print version
Lietuvos Gelezinkeliai (Lithuanian Railways, LG), the state-run railway company that had its top management replaced at the end of 2016, posted 443.7 million euros in revenue last year, up by 11% year-on-year, informs LETA/BNS.

"At the beginning of last year, we launched the change program LG Effect, which will provide the group with a positive effect of 28 million euros in total. We already see evident results – our revenue went up, we managed to manage the costs," the company's CEO Mantas Bartuska said in a press release.


Freight traffic handled by Lietuvos Gelezinkeliai last year grew by a tenth to 53.5 million euros – mainly consisting of oil and mineral products, fertilizers and plant products. According to the press release, LG was in the lead among the Baltic states in terms of freight volumes.


Regardless of the intensive railway repairs and cancellation of some of the routes, passenger numbers moved up by 0.7% to 3.8 million in 2017 year-on-year.


The company has not yet announced its financial, freight handling and passenger plans for 2018.






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