Ukrzaliznytsia reports UAH 100 mln net profit in 2017

UkrInform 2
Ukrzaliznytsia reports UAH 100 mln net profit in 2017
Ernst & Young auditing company confirms that PJSC Ukrzaliznytsia has improved its financial results and achieved profitable growth, according to Ukrzaliznytsia acting Board Chairman Yevhen Kravtsov.

In a post on his Facebook page, Kravtsov wrote: “One of the world's best auditing companies has confirmed the right direction and implementation of the strategy for reforming PJSC Ukrzaliznytsia. We are entering a new level of economic stability. Losses in 2016 were estimated at billions and amounted to UAH 7.3 billion, at present we have a profitability index of UAH 100 million per year. In 2017, the financial result of the company improved by UAH 7.4 billion”.

In addition, according to Kravtsov, Ukrzaliznytsia’s EBITDA grew by UAH 390 million.

"This is an analytical measure, equal to earnings before interest, tax, depreciation and amortization. The measure reached UAH 20.6 billion, which positively affects the perception of the company in the western financial markets," Kravtsov said.

He also added that in 2017, Ukrzaliznytsia significantly increased capital investments up to UAH 0.9 billion.

"Due to this, the company has ensured the largest update of its rolling stock and equipment for the last four years," Kravtsov said.