Lithuania, Railways, Transport
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Thursday, 28.03.2024, 13:22
Lithuanian Railways to pay EUR 34 mln in dividends to state
Photo: litrail.lt |
"We
improved our business results last year and got back onto the tracks of a
profitable business. It allowed as to give the state the maximum financial
return," Lietuvos Gelezinkeliai
CEO Mantas Bartuska was quoted as
saying in the statement.
The last
time the railway company paid dividends was in 2015 when it transferred 846,000
euros to the state.
The Lietuvos Gelezinkeliai group earned 27 mln
euros in net profits, from 52 mln euros of losses in 2016. Its turnover grew 11%
to 448.1 mln euros.
Bartuska
said in early July that the company's dividends for 2017 should not be below 30
mln euros as the company suffered a loss of this size from transporting
passengers.
In early
July, Lietuvos Gelezinkeliai
announced the company’s strategy until 2030, aimed at doubling the number of
passengers to 8 mln euros, increasing cargo volumes 30% to 70 mln tons and
raising income 60% to 725 mln euros.