Romanian railway infrastructure manager, CFR SA, estimates a loss of RON 98,2 million (EUR 21 million) with total revenues of RON 4.89 billion (EUR 1.04 billion) according to a draft Decision on the approval of the company’s income and expenditure budget, rectified for 2018.
According to the substantiation, the reduction of income compared to the scheduled level by RON 98,2 million is mainly caused by:
-the diminution of revenues from the track access charge (TUI) from RON 872 million (EUR 187 million) to RON 838.5 million (EUR 179.7 million) which means a reduction of RON 33,5 million (EUR 7.1 million).
-the diminution of transfers from the state budget from RON 982,9 million (EUR 202 million) to RON 939 million (EUR 201 million), which means a reduction of RON 43.8 million (EUR 9.4 million).
CFR SA has reduced expenditure by RON 60,3 million (EUR 12.9 million) up to the traffic safety limit scheduling a loss of RON 37,9 million (EUR 8.1 million).
Expenditure including salaries, the number of employees scheduled at the end of the year and the monthly average wage is not changed, shows the substantiation.
The company planned investment costs of RON 2.91 billion (EUR 623.7 million), of which RON 229.5 million (EUR 49.2 million) is the state budget grant.
Total costs are estimated at RON 4.93 billion (EUR 1.05 billion), of which staff costs amount to RON 1.34 billion (EUR 287.2 million).
Moreover, CFR SA has overdue payments of RON 58 million (EUR 12.4 million) and claims to recover estimated at RON 1.53 billion (EUR 328 million).
The draft normative act was published on the web site of the Romanian Ministry of Transport with proposals and observations expected by 12 November 2018.
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