JSC "Georgian Railway" has published the financial report for 2021. According to the document, the company suffered a loss of GEL 54.4 million in the first quarter of this year. This is 130 million GEL less compared to the loss in the same period of 2020.
The railway transported a total of 3 million tons of cargo in Q1, which was 0.2 million tons or 7% more compared to 2020. The operating income of the railway was up by 5% compared the same period of the previous year and amounted to 127.9 million GEL. However, this amount was not enough to cover the company's own expenses.
According to the financial report, exchange rate difference was the main source of the loss in 2020 and the company received a loss of GEL 64 million.
According to separate sources, the distribution of railway revenues is as follows:
Freight shipments - 102.7 million GEL, an increase of 9.4% over the previous year;
Logistics services - GEL 17.7 million, an increase of 35% over the previous year;
Passenger transfers - 0.7 million GEL, a decrease of 64% over the previous year;
Revenue from car rental - 1.2 million GEL, a decrease of 71% over the previous year;
According to the company’s financial performance, expenditures on the employees made up GEL 40.5 million, electricity and other operating costs were GEL 10.6 million, and depreciation was GEL 17.4 million.
