Cargo, Estonia, Railways, Transport
International Internet Magazine. Baltic States news & analytics
Thursday, 28.03.2024, 09:24
Operail's operating profit totals 7.5 mln euros for 9 months 2018
"A broader view of the rail industry and the expansion of our
service portfolio allow us to finish the financial year with a profit again
after a long time. Our projections show that we will end 2018 with nearly 10 mln
euros in profit," chairman of board Raul Toomsalu said, commenting
on the nine-month interim report of Operail,
which previously operated under the name EVR
Cargo.
Operail's freight
volume for the first nine months of this year grew by 41% compared to the same
period last year, reaching 10 mln tons. The company's sales turnover from
freight operations grew 55.8% to 44 mln euros and wagon rental revenue by 160%
to 6.3 mln euros. The group's EBITDA was 12 mln euros, compared to an EBITDA of
three mln euros posted for the previous period.
The biggest challenge for Operail
in the near future is finding workers, the company announced. "We continue
to grow in new directions, and therefore our demand for quality employees is
also increasing. This year, our workforce has grown 7% and new projects, such
as locomotive construction, still need a lot of additional workforce,"
Toomsalu said.
"Certainly, Operail's most
important keywords for the third quarter are railway safety and our people's
sense of responsibility and initiative," Toomsalu added. "Safety is a
very important topic. I remind everyone that the days are getting shorter and
nights longer, and this is why it is so important to make yourself visible by
wearing reflectors at night. You cannot cross the railway except at a
designated crossing point, and before crossing, you must first listen and look
in both directions to make sure that it is safe to cross."
Operail is an
Estonian state-owned railway company whose primary business areas are freight
transport, locomotive and wagon maintenance and construction, and rolling stock
rental. The company employs 680 people.