Analytics, Cargo, Estonia, Good for Business, Railways, Transport
International Internet Magazine. Baltic States news & analytics
Tuesday, 23.04.2024, 12:04
Estonian railway infrastructure company made EUR 8.6 mln profit in 2018
Sales revenue grew 26.1% from 32.9 mln euros in 2017 to 41.5
mln euros last year, it appears from the annual report.
Earnings before interest, taxes, depreciation, and
amortization totaled 29.3 mln euros in 2018, 46% more than in 2017. Unlike in
previous years, the company posted both operating profit and net profit for
2018, which among other things can be attributed to an increase
in government grants awarded for the successful achievement of performance
goals. Leaving aside grants, the loss of the company almost halved. The
company's financial outturn was almost 20 % better than in 2017.
The company's equity stood at 150.1 mln euros and
assets at 334.1 mln euros as at year-end. The respective indicators at the end
of 2017 were 141.5 mln and 304.2 mln euros.
During the 12 months, 13.54 mln tons of freight was
transported on the infrastructure of Estonian
Railways, 9.1% more than in 2017. 99% of the freight was carried by the
state-owned rail cargo operator Operail
AS.
With 5.38 mln tons, 22% more than in 2017, fertilizers
continued to be the top category of goods carried.
Transit shipments totaled 9.13 mln tons in 2018, 20.2% more
than the year before. Local shipments declined 14.4 % on year to 2.77 mln tons.
Diesel and electric trains carried 6.4 mln passengers on the
infrastructure of Estonian Railways during the year, 3.8 % more than in 2017.
Passengers carried by the sole international train, plying the Tallinn-St.
Petersburg-Moscow route, numbered 107,100, 1.7% more than the year
before.
Investments in fixed material assets and in the acquisition
of fixed material assets totaled over 26 mln euros last year and about 14 mln
euros in 2017. Investments this year are budgeted to hit 38 mln euros.
As regards dividend, the government that is the 100 % owner
of Estonian Railways has said in its
expectations concerning the railway infrastructure company that considering the
company's financial projection, it is not possible for it to pay a dividend at
least until 2024.
Estonian Railways employed 758 people at the end of 2018.
The company operates 1,229 kilometers of railway, 61 railway stations and 129
passenger platforms across Estonia.