Business News

Motorway Company Posts EUR 5.5M Profit in H1

Ljubljana, 27 August (STA) - Motorway company DARS generated EUR 5.5m in net profit in the first half of 2013, which is 18% more year-on-year and three times the planned amount. While revenues were in line with the plans and 1% lower than last year, Slovenia's motorway company managed to make substantial savings in the first six months of the year.

The company's total costs were cut by 5% year-on-year and were 10% lower than planned, DARS said in a press release posted on the website of the Ljubljana Stock Exchange on Tuesday.

The biggest savings were made by reducing the costs of loan interest by 33.5% or more than EUR 12m.

Moreover, DARS is concluding its reorganisation on 1 September, which brings additional savings in management.

Compared to motorway companies in neighbouring countries, indexes show DARS as very cost-efficient, since its material, services and labour costs per kilometre are the lowest, the company pointed out.

DARS's road toll revenues, which account for most of the total revenues, were in line with plans and 1% lower than in the first six months last year.

Revenues from toll stickers for cars were 4% higher than planned and 1% higher year-on-year, while non-vignette revenues from heavier vehicles were 3% below the plans and last year's realisation.

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