BAKU, Azerbaijan, April 13
Tamilla Mammadova – Trend:
JSC "Georgian Railway" has published financial indicators for 2020, Trend reports via the company.
According to the document, last year the company incurred a loss of 164.6 million lari ($48.1 million).
In total, in 2020, 11.1 million tons of cargo were transported by rail, which is 0.2 million tons more than in 2019. However, the company's total revenue declined in 2020. In 2020, the Georgian Railway received 489.4 million lari ($143.2 million) in revenue from various types of railway services, which is 2 million lari ($585,603) less than in 2019.
According to the income statement, the company incurred a loss of 191 million lari ($55.9 million) due to exchange rate differences during the period. This loss is related to the company's liabilities, the volume of which exceeds half a billion dollars, and the amount of the principal debt increased in 2020 due to the depreciation of the lari.
The distribution of income from rail transport is as follows:
Freight traffic - 389.3 million lari ($113.9 million), which is 4 percent more than in the previous year;
Logistics services - 54.1 million lari ($15.8 million), which is 11 percent more than in the previous year;
Passenger traffic - 11.2 million lari ($3.2 million), which is 64 percent less than in the previous year;
Car rental revenue - 8.8 million lari ($2.5 million), which is 45 percent less than in the previous year;
Other income - 11.8 million lari ($3.4 million), which is 71 percent more than in the previous year.
According to the company's financial indicators, the salary of employees amounted to 170.5 million lari ($49.9 million), electricity and other operating expenses amounted to 41.4 million lari ($12.1 million), and depreciation - 76.1 million lari ($22.2 million).
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