Operail: losses despite savings
To turn profitable, the Estonian railway wants to extend its business into foreign markets and increase the revenue base by investing the proceeds from the sale of assets into its expansion strategy. Further cost reductions would jeopardise rail freight capacity in Estonia, Operail said.
In the first nine months of 2023, Operail transported 1.5 million t of goods in Estonia, 68% down from the same period last year. Operating income dropped by 43% to EUR 16.9 million.
The decline was caused by sanctions against Russia and the end of transports of non-sanctioned Russian goods. Other current problems arise from the high prices for railfreight services within Estonia compared to domestic road haulage and international rail transport. (ben)