Business News

Railway Operator Reports Higher Revenue, Operating Profit

Ljubljana, 26 August (STA) - Slovenske železnice, the operator of Slovenian railways, generated EUR 251.85m in operating revenue in the first half of the year, up 12% from the same period last year. Operating profit more than doubled to EUR 9m, while pre-tax profit was down to EUR 5.22m from EUR 7m in the first half of last year.

According to a press release issued by the state-owned company on Tuesday, earnings before interest, taxes, depreciation and amortisation (EBITDA) at the Slovenske železnice group were up 14% year-on-year to EUR 26.32m in the first half of the year.

The management estimates that the results could have been even better, but the company is yet to receive compensation for the cost of diesel engines running at railway sections where infrastructure had been damaged by the February ice storm. The costs amounted to EUR 8m in the first half of the year.

The company transported 9.28m tonnes of freight in the period, 13% more than in the first half last year, while passenger numbers fell by 5.8% to 7.68m. The latter is due to the damaged rail line between Ljubljana and the southwestern region of Primorsko, where buses are still running instead of passenger trains.

The company plans consolidated operating profit to the tune of around EUR 22m for the year.

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