The government of Ukraine approved the consolidated financial plan of the state railway administration (Ukrzaliznytsia) for 2013 at its meeting on Wednesday, the press service of Ukrzaliznytsia announced in a press release.
"The revenues (total) are projected at UAH 55,412.3 million, the net sales revenues are projected to increase by UAH 1,998.3 million or 3.9% to UAH 53,440.9 million compared with 2012. The net profit is projected to increase by UAH 79.4 million or 18.4% to UAH 510.9 million in 2013, compared with 2012," the press release states.
Transfers to the state budget and special-purpose funds are projected at UAH 13.265 billion and capital investments at UAH 6.093 billion in 2013.
The Ministry of Infrastructure prepared Ukrzaliznytsia’s draft consolidated financial plan.
As reported by the Interfax Ukraine news agency, Ukrzaliznytsia’s consolidated financial plan for 2012 provided for a net profit of UAH 496.4 million and a loss of UAH 7.2 billion from passenger transportation.
Its total revenue from ordinary operations was projected at UAH 57.2 billion in 2012, including UAH 48.1 billion in revenues from transportation and UAH 9.1 billion in other revenues. Its revenue from freight transportation was projected at UAH 41.7 billion and its revenue from passenger transportation at UAH 6.4 billion.
The financial plan for 2012 contained projected expenditures of UAH 56.7 billion, taking into account the profit tax on ordinary operations, including UAH 42.9 billion in transportation expenditures and UAH 13.8 billion in other expenditures. The expenditures on freight transportation were projected at UAH 29.2 billion and the expenditures on passenger transportation at UAH 13.7 billion.
Ukrzaliznytsia’s net profit based on the International Financial Reporting Standards (IFRS) amounted to UAH 802.76 million in 2012, which was 2.6 times less than its net profit in 2011. At the same time, its sales revenue increased by 2.6% to UAH 52.725 billion.