Latvia, Railways, Transport

International Internet Magazine. Baltic States news & analytics Tuesday, 18.06.2019, 10:52

Pasazieru Vilciens rail passenger carrier sees profit drop 21% in H1

BC, Riga, 20.08.2018.Print version
Latvia’s Pasazieru Vilciens rail passenger carrier closed the first half of 2018 with a EUR 526,129 profit, down 21% from the respective period a year ago, informs LETA.

In the first half of 2017, Pasazieru Vilciens earned EUR 637,337 in profit.

The rail company’s turnover, meanwhile, rose 4.5% year-on-year, from EUR 32.57 mln in the first half of 2017 to EUR 34.04 mln in the first six months of this year.

During the first half of 2018, Pasazieru Vilciens carried 8.63 mln rail passengers, or roughly 4% more people than in the same period in 2017. The company’s revenues from ticket sales grew by some 5% year-on-year to EUR 9.43 mln in the six months of 2018.

The company’s management attributed the increase in passenger numbers to various activities and strategic projects like the introduction of travel zones, upgrading of the company’s diesel trains and online ticket services, as well as favorable weather conditions in the second quarter of the year.

The punctuality of Pasazieru Vilciens trains remained high, with 99.23 of its 41,335 train runs performed as scheduled.



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