The Ukrainian Railways joint-stock company (Ukrzaliznytsia) has published its consolidated financial statements for 2020, the CFTS portal reports.

According to the financial statements, Ukrzaliznytsia made a net loss of UAH 11.9 billion in 2020.

The company said that its financial statements for 2020 were significantly impacted by a 10.3% fall in revenue from freight transportation and a 58.3% fall in revenues from passenger transportation, compared with 2019. It was also impacted by the significant fluctuation of the exchange rate, as a result of which the company made a net loss of UAH 5.5 billion from exchange-rate differences, compared with a net profit of UAH 4.3 billion in 2019.

"The loss was the result of the simultaneous impact of several negative factors caused by the spread of the COVID-19 pandemic on the industry. In particular, the measures that were introduced in March 2020 to prevent the spread of the pandemic have led to a fall in demand for freight transportation, suspension of passenger transportation, and, accordingly, a fall in the company's revenues," the company said.

In particular, the company’s revenue from freight transportation amounted to UAH 65,019,753 billion in 2020, down from UAH 72,488,806 billion in 2019.

Its revenue from transportation of passengers and luggage amounted to UAH 4,133,019 billion, down from UAH 9,905,795 billion in 2019.

The company's non-current assets amounted to UAH 230,226,016 billion in 2020, down from UAH 234,555,159 billion in 2019; its assets amounted to UAH 8,725,561 billion in 2020, down from UAH 9,129,068 million in 2019.

As the CFTS portal reported, Ukrzaliznytsia reported an overall “financial result” of UAH 3 billion for 2019. The company reported EBITDA of UAH 17.3 billion for 2019, up 6% from 2018.