“Lithuanian Railways” Keeps Stable Results, Record-breaking number of Grain was Transported in July
According to preliminary data, the biggest group of railway companies in Baltic countries "Lithuanian Railways", during seven months of this year received more income, transported 14% more passengers with trains, while the import and export that used to increase absorbed the decreased flow of transit cargo. The season of grain that began a little earlier caused that during the month of July "LG CARGO", cargo and freight company for "Lithuanian Railways", transported even 47% more grain of local origin than last year at the same time.
Preliminary data shows that "Lithuanian Railways" along with "LG CARGO", which continues the work of Cargo Transportation Directorate, received over 266 million Euros sales income from two main activities; that is 2% more than last year at the same time when sales income was 261 million Euros.
"The second part of the year promises many challenges. When the flow of transit cargo decreased, we felt more competition for it. This is reflected in our results. We strive to maintain a leader position in this region, and for this we have to have a quick reaction to the changing market conditions and needs of clients. On the other hand, we are glad that in July we attracted some new cargo; it means that clients trust us and value the quality of service. We are also happy to see changing habits of people – more and more of them choose to travel by train for both business and leisure purposes" – said "Lithuanian Railways" CEO Mantas Bartuška.
This year „LG CARGO" freight flow in January-July period was reaching 31,7 million tons and it was 0,9% lower than at the same time in 2018. The main reasons for that were decreased transit of coal to Kaliningrad region as well as decreased import of oil products through the port caused by oil contamination. Decreased transit cargo flow was compensated by increased other kind of cargo – fertilizers and building materials transportation from Belarus, as well as exported oil and local food products. In July alone grain flow significantly rose up – grain season that started a week earlier than usual was the reason why "LG CARGO" in the month of July transported 224 thousand tons of grain in Lithuania; that is 47% more than last year at the same time.
This year the number of train passengers continues to grow: during the months of January-July 3,3 million people traveled by trains; it is 14% more than last year at the same time. Aiming to increase the satisfaction of clients, the company is planning to renew the current train tickets selling system. At the beginning of the next year, it is planned to place new automatic ticket machines in railway stations, new mobile application and new website will start to function.
Meanwhile, "Lithuanian Railways" Infrastructure Directorate ensured that during the months of January-July 9,66 million train kilometers in the country would be covered. Last year during seven months this number was 9,14 million kilometers.
Last year "Lithuanian Railways" group earned 54,8 million Euros net profit. This year the company paid a record-breaking number of dividends to the state – 43 million Euros.
Updated on 2019-09-11