Govt approves Ukrzaliznytsia's financial plan for 2017 with net profit of UAH 63 mln
The Cabinet of Ministers of Ukraine has approved a consolidated financial plan of public joint-stock company Ukrzaliznytsia for 2017 with net profit of UAH 62.9 million.
The decision was made at a government meeting on September 13, 2017.
Earlier Ukrzaliznytsia published the revised draft a consolidated financial plan for 2017, according to which profit was planned in the amount of UAH 59.8 million and earlier the figure was projected in the amount of UAH 1.2 billion.
"In July 2017, the Ministry of Infrastructure once again returned the draft order on the indexation of tariffs for transportation of goods, which PJSC Ukrzaliznytsia expected to receive from June 2017. The enterprise was forced to reduce the revenue and expenditure part of the financial plan, the capital investment plan and net profit for the end of 2017," the press service then said.
So, in the latest version of the financial plan, the planned indexation of tariffs by 22.5% was postponed to October 2017.
The indexation of the tariffs by 22.5% is postponed for October 2017.
According to the draft presented on August 10, 2017 at the Economic Development and Trade Ministry, operations revenue are projected at UAH 80.6 billion, which is UAH 2.3 billion less compared with the previous draft plan.
Net revenue from transportation of freight, passengers and auxiliary production is announced at over UAH 76 billion (earlier UAH 82.9 billion was planned).
The tariffs for transportation of passengers will not be indexed in 2017.
Operational expenses are projected at UAH 80.5 billion and reduced by UAH 1.2 billion compared with the previous plan.
The company seeks to use UAH 16 billion of capital investment, and this is UAH 6.7 billion less than the previous figure.
In 2017, Ukrzaliznytsia would pay almost UAH 17 billion of taxes and duties to the national budget.
The adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) would be UAH 18.298 billion (UAH 23.4 billion earlier) and EBITDA margin – 24%.
Ukrzaliznytsia seeks to transport 348.4 million tonnes of cargo in 2017, and this is 1.4% more than in 2016.
Cargo turnover is planned in the amount of 193.925 billion tonne-kilometers (3.4% up on 2016).
Revenue from cargo transportation are estimated at UAH 62.85 billion (13.4% up on 2016).
Ukrzaliznytsia seeks to transport 202.8 million passengers in 2017, which is 2% less than in 2016. Passenger turnover is projected at 26.783 billion passenger-kilometers (0.8% down on 2016).