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Improved financial results in 2014 for Romanian CFRs

Romanian state-owned railway companies, CFR SA, CFR Marfa and CFR Calatori have posted increased operational results y.o.y. , stated Ioan Rus, Minister of Transport.

CFR SA, the infrastructure manager,  has reduced its debts by 50.53% compared to the same period in 2013, from RON 1,490 million lei in September 2013 to RON 737 million in 2014.

In the first nine months, revenues increased by 11.18%, from RON 1.082 million lei in September 2013, while expenses increased by 9.2%, from RON 1.084 million lei in 2013 to RON 1,094  million lei in 2014.

Railway freight operator, CFR Marfa has increased the volume of goods transported by 6.9%, while its market share rose from 54% to 58%. The company’s operating income increased by 1.2%, operating expenses decreased by 12.4%, while operating loss decreased by 90% (a series of rolling stock  repair, security, transshipment and cleaning services contracts were renegotiated). 

According to Rus, CFR Calatori, the railway passenger operator has no debts to the state budget. In the first nine months, the operator’s debts were cut by 60.5%, revenues increased by 19.54%, the transported passengers indicator increased by 15%, labor productivity increased by 24%, while expenses were reduced by 13%.

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