Latvian rail freight carrier LDz Cargo, a subsidiary of Latvijas Dzelcels, earned a profit of EUR 2.87 million in 2015, EUR 1.17 million more than in 2014. The profit increase was due to improved efficiency of operations, lower expenditure on rail car repairs related to less intensive transport operations and lower than anticipated fuel prices.
The company recorded a net operating turnover of EUR 332.7 million (-9%). Import cargos reached 48.27 million tons (-2.3%), export cargos – 2.85 million tons (-37%), transit cargos 2.85 million tons (+53.7%), and domestic freight – 1.67 million tons (+33%).
Capital expenditure amounted to EUR 2.2 million in 2015. Most of the investments went to repairs of diesel train engines and rail cars as well as development of automated systems at the freight terminals in Rezekne and Daugavpils.
Source: www.baltic-course.com
Photo: www.baltic-course.com
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