August 29, 8:32 pm
The Russian railways have seen an increase in net profit of 65% in the first half of the year
The consolidated balance sheet of the Russian Railways group of companies in accordance with IFRS showed the company's net profit for the first half of 2019 at 107.1 billion against 64.8 billion rubles. for the same period of 2018, thus showing a growth of 65%. This is stated in communication society.
The revenues of the company in the first half of this year amounted to 1,238 trillion rubles, 6.3% more than the results of last year (1,164 trillion rubles), according to a Russian railways report, presented on the basis of 200 branches. According to the company, the main reason for the growth was the increase in revenues from freight transport and the provision of access to infrastructure, which showed a 6.4% increase compared to last year, equal to 799 billion rubles in the first half of the year.
Due to an increase in passenger traffic, tariff indexation in the regulated sector and marketing activities, passenger transport revenues increased by 8.5% to 115 billion rubles. The profit in the logistics services sector increased by 5.4%, to 209 billion rubles.
According to the results of the first six months of 2019, EBITDA reached 298 billion rubles, an increase of 16.4% compared to last year.
Earlier it became known that the government decided to pay dividends for the Russian railways in 2018 for an amount equal to 74% of net income (over 13 billion rubles). According to Deputy Prime Minister Maxim Akimov, these are payments in addition to dividends on preferred shares. The net profit of the Russian railways in 2018 was 18 billion rubles.
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