Ukrzaliznytsia sees UAH 457 mln of net profit in 2021

JSC Ukrzaliznytsia in 2021, according to operational data, received UAH 457 million of net profit against a loss of UAH 11.9 billion a year earlier, Board Chairman of the company Oleksandr Kamyshin has said.

"We calculated the financial result for 2021. According to operational data, we have a net profit of UAH 457 million! Let me remind you that 2020 showed UAH 11.9 billion of loss. The first six months of 2021 gave UAH 1.4 billion of loss. Our team received Ukrzaliznytsia in this state last summer," he wrote in his Telegram channel.

Kamyshin said that an increase in freight traffic, an increase in the tariff for freight transportation, the distribution of wagons through auctions, savings on the purchase of electricity through intermediaries – directly from Energoatom, and savings on all purchases played a positive role. The rise in prices for energy resources (diesel fuel, gas) and an increase in wages by 10% from December 1 played negative role.

"Personally, I do not consider high profit to be the ultimate measure of Ukrzaliznytsia's success. The company has many problems accumulated, the main reason for which is systemic long-term underfunding. But Ukrzaliznytsia cannot be unprofitable," he added.

According to the data on the company's website, at the end of last year, Ukrzaliznytsia saw net income from sales in the amount of UAH 86.6 billion, which is 15% higher than in 2020. Revenue from freight traffic, in particular, grew by 11.2% to UAH 72.3 billion, from passenger traffic by 50.7% to UAH 6.23 billion.

The company's EBITDA last year rose by 42.8% to UAH 14.5 billion, the EBITDA margin by 3.3 percentage points to 16.7%.

As reported, the Cabinet of Ministers approved the financial plan of Ukrzaliznytsia for 2022 with a net profit of UAH 1.681 billion. The company's net income from the sale of products, goods and services for 2022 is projected at UAH 98.091 billion, total income at UAH 101.977 billion.

Source: www.en.interfax.com.ua