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Lithuanian Railways' net profit slumps in 2015

  • Published by Ozgur Tore

Lithuanian RailwaysLithuanian Railways saw its consolidated net profits slump down to 5.076 million euros in 2015, from 19.376 million euros in 2014.

Consolidated revenue fell by 8.4% to 431.067 million euros, the state railway operator said in its 2015 performance report.

"The decline in revenue was mostly due to falling freight transportation and ancillary service volumes. A decrease in shipments in the Kaliningrad direction alone brought the company's revenue down by 11.7 million euros," it said.

The state railway operator ast year handled 48.05 million tons of freight, down 1.9% from 49 million tons in 2014. Passenger numbers fell by 7.7% to 4.2 million.

EBITDA dropped by 12.4% in 2015 from 2014 to 119.3 million euros.

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