The Ukrainian Railways joint-stock company (Ukrzaliznytsia JSC) made a profit of UAH 3.1 billion in the first half of 2024.
This was reported by the CFTS portal, citing the publication Rail Insider.
According to the company's official report, its total revenue from freight transportation increased by UAH 6.5 billion to UAH 43 billion compared to the same period last year. In addition, Ukrzaliznytsia earned 24% more from the “railcar component” in the first half of 2024.
According to the report, 2024 was less costly for the company than the previous year: the purchase price of fuel was 3% lower and the purchase price of gas fell by 35%.
Ukrzaliznytsia’s capital investments amounted to UAH 4.5 billion in this period of 2024, which is UAH 2.1 billion less than the amount in the corresponding period of 2023. However, the company reported an increase of UAH 2.6 billion in operating expenses to UAH 4.6 billion.
"The company registered a decline in profits despite record tariffs and highly positive dynamics in its freight base. According to the report, the profit fell by 1.7 billion UAH in the first half of 2024, even though the average monthly volume of transportation during this period was 15 million tons per month, which is 27% higher than last year," the statement said.
The company also forecasts a loss of UAH 2.7 billion at the end of the year despite a profit of UAH 3.1 billion for the first half of the year.
