Business News

Railway Operator with EUR 1.6M Profit in Q1

Ljubljana, 21 April (STA) - National railway operator Slovenske zeleznice ended the first three months of 2011 with an estimated operating profit of EUR 1.6m and net profit of EUR 2.12m, after struggling with heavy losses in 2010. This is considered a very good result given that the company planned a loss for the first quarter.

Extraordinary business events excluded, Slovenske zeleznice posted an operating profit of EUR 556,000 and a net loss of EUR 1m, the company said in a press release on Thursday, whereas the planned loss for the January-to-March period was EUR 4.58m (EUR 6.82m in net loss).

The supervisory board welcomed the positive results today, noting that both operating revenues and cargo revenues in the first three months topped plans and comparable last year's results.

Total operating revenues were 9.4% above plans and 13.8 higher than in the same period last year. Cargo revenues exceeded plans by 16.9% and surpassed last year's result by 30.7%.

Results in passenger transport matched plans and slightly exceeded last year's figures. In the first three months, Slovenske zeleznice transported some 4.33 million passengers, up 3% year-on-year.

Trains carried 4.58m tonnes of cargo, thus exceeding plans by 11.7% and last year's first quarterly results by 16.8%.

Supervisors also got acquainted with the reorganisation at the rail operator and the implementation of the act on railway operator Slovenske zeleznice.

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