In 2014, Latvian Railways (Latvijas Dzelzcels)turned over EUR 224.9 million, which is 3% more when compared with EUR 218 million in 2013, reports The Baltic Course.
The company’s profit in 2014 amounted to EUR 10.7 million, which is 86% less than in 2013, when the profit reached EUR 79.8 million, the company’s board members revealed in a press conference.
Profit in 2013 was significantly larger than other years, as the the largest profit was acquired from re-estimating and handing over the cargo train park to the subsidiary LDz Cargo, which was a single deal, unrelated to cash flows.
The 2014 profit structure indicates that re-estimation of capital assets resulted in EUR 8.7 million, while EUR 1.5 million was acquired as dividends from the subsidiaries.
The company explains that last year was very successful in terms of development and freight transport – a total of 57.04 tons were transported, which is 2.2% more than in the previous year, allowing LDz to maintain its leader positions among the Baltic States’ railway companies.
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