Lithuanian Railways reports growing profits despite regional slow-down

DELFI / Audrius Solominas

During the first half of 2016, AB Lietuvos Geležinkeliai (Lithuanian Railways) has earned €0.5 million of net profit.

The state-owned company transported 23.4 million tons of cargo, or 1.6% more than in the same period in 2015.

Meanwhile neighbouring countries are calculating losses – transportation through Latvian railways compared to the first half of 2015 has decreased by 19.8%, Estonian railways 23.3%, Belarus railways 5.6%.

Especially noticeable changes were in domestic transporting. Over the first half of 2016, Lietuvos Geležinkeliai has transported 6.9 million tons cargo, 10.9% more than over the first half of 2015. This was mainly due to growing cargo volumes of the oil refinery ORLEN Lithuania and of grain.

International transportation results are less impressive. Over the first half of 2016, Lietuvos Geležinkeliai handled 16.5 million tons of cargo, which is 1.8% less than in the first half of 2015.

The decrease in international transportation volume has been down to Russia discontinuing its transportation of petroleum products, chemical and mineral fertilizers to Kaliningrad region and smaller volumes of fertilizers going to Klaipėda from Belarus.

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