In January-June 2024, Ukrzaliznytsia (UZ) increased its revenue by 19.51% compared to the same period in 2023 to UAH 53.9 billion, while decreasing its profit by 33.2% to UAH 3.17 billion, according to its interim condensed consolidated unaudited financial statements as of June 30, 2024.
According to the report for 6 months. 2024 on the official website of UZ, revenues from freight transportation in January-June increased by 17.8% to UAH 43.01 billion. At the same time, revenues from passenger and baggage transportation grew even more significantly by 22.15% to UAH 5.35 billion.
At the same time, UZ personnel costs in January-June 2024 increased by 24.75% to UAH 24.72 billion compared to the same period in 2023. Electricity costs increased by 56.2% to UAH 7.78 billion. In contrast, fuel costs decreased by 14.92% to UAH 4.62 billion.
Net foreign exchange loss increased 26.2 times to UAH 2.87 billion in the period under review.
Profit before tax decreased by 35.7% to UAH 3.25 billion.
As of June 30, 2024, UZ was involved in litigation with the Ukrainian fiscal authorities regarding the accrual of additional tax liabilities for income tax, VAT and other taxes in the amount of UAH 1.1 billion, including additional fines and penalties. As of June 30, 2024, the group’s potential loss from third-party claims in other litigation and arbitration proceedings amounted to UAH 1.3 billion, compared to UAH 1.63 billion in 2023, the report says.
The UZ group includes the parent company JSC Ukrainian Railways, PJSC Dnipropetrovs’k Diesel Locomotive Repair Plant, PJSC Zaporizhzhya Electric Locomotive Repair Plant, PJSC Lviv Locomotive Repair Plant, PJSC Kyiv Electric Car Repair Plant, PrJSC “Korosten Reinforced Concrete Sleepers Plant”, PrJSC “Hnivan Special Reinforced Concrete Plant”, PrJSC “Kyiv Electrotechnical Plant ‘Transsignal’, LLC ‘UZ Cargo Wagon’, LLC ‘Zbut Energy Ltd’ (together with subsidiaries), 65.62% of PrJSC ‘Tast-Garantia’, 50.004% of PrJSC IC ‘Inter-Poly’ Ukraine, 100% of UZ Cargo Poland sp. z.o.o Poland.
