Balczun Announces Ukrzaliznytsia's Financial Results For 1HY 2017

06 July 2017 17:46

The net profit of the Ukrainian Railways public joint-stock company (Ukrzaliznytsia) increased by UAH 3.8 billion in the first half of 2017, compared with the corresponding period of 2016. Ukrzaliznytsia made a profit of UAH 103.1 million in the first half of 2017 despite making losses of UAH 3,794 million in the first half of 2016, the company’s board Chairman Wojciech Balczun announced on his Facebook page.

Ukrzaliznytsia’s transport revenue increased by UAH 4 billion (14%) in the first half of 2017, compared with the first half of 2016. The company’s total expenditures in the first half of 2017 were 3.9% (UAH 1.55 billion) less than the planned amount.

Ukrzaliznytsia paid UAH 7.9 billion in current taxes and compulsory payments into budgets and state trust funds, including UAH 3.0 billion into the state budget. The average monthly salary at the company increased by UAH 1,670 or 33.5% to UAH 7,001.5.

According to the Polish executive, Ukrzaliznytsia’s “financial result” from cargo transportation increased to UAH 7.2 billion in the first half of 2017, which is UAH 1.3 billion more than the figure in the in the first half of 2016.

The company transported 166.1 million tons of cargo in the first half of 2017. This represents a 2.2% increase compared with the corresponding period of last year. Its freight turnover was 94,810.6 million ton/km, which is 5.9% more than the figure for the same period of 2016.

The company made losses of UAH 5.4 billion from passenger transportation. This is UAH 1.3 billion more than its losses from passenger transportation last year. In total, the company transported 103.2 million passengers in the first half of 2017, which is 2.3% more than the number it transported in January-June 2016. Its passenger turnover was 13.735 billion passenger/km, which is 6.5% more than the figure in the corresponding period of last year. 

Ukrzaliznytsia’s operating costs in the first half of 2017 are expected to amount to UAH 35.4 billion, Balczun said. The number of Ukrzaliznytsia’s employees was 281,800 in the first half of 2017, which is more than last year's figure by 7,200 people or 3%.

As reported, Ukrzaliznytsia transported 139.2 million tons of cargo in the period of January-May 2017, which is almost 3% more than it transported in the corresponding period of last year. According to the company, it transported 64.7 million tons of domestic cargoes, 15.7 million tons of import cargoes, 50.7 million tons of export cargoes, and nearly 8.2 million tons of transit cargoes.