Ukrainian railway company Ukrzaliznytsia’s net revenue improved by 21% to UAH 17.9 bln (EUR 617 million) in the first quarter of the year. Revenue from freight transport increased by 22% to UAH 15.1 bln (EUR 520 million) fuelled by a 10% higher turnover (58 bln t/km) and 11% higher effective freight rate. Its passenger segment also improved as revenue rose by 14% to UAH 1.4 bln (EUR 48 million). An effective rate hike of 53% outpaced declines in passenger turnover by 26%.
Ukrzaliznytsia’s EBITDA surged 3 times to UAH 5 bln (EUR 172 million) and bottom line turned positive at UAH 0.05 bln (1.7 million euros) in the first quarter from negative UAH 2 bln (EUR 69 million) a year before. Its net debt stood at UAH 32.7 bln (EUR 1.1 bn) at the end of January-March.
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