KYIV. Sept 19 (Interfax-Ukraine) – JSC Ukrzaliznytsia is turning a profit based on the results of January-September of this year, and will also end 2023 without losses with a small profit, Board Chairman of Ukrzaliznytsia Yevhen Liaschenko said in an interview with Interfax-Ukraine.
“We have submitted further amendments to the financial plan, which clearly indicate that by the end of 2023 we will make a profit. From the sale of scrap metal for export, we planned to receive UAH 308 million in 2023, and UAH 887 million of net financial result in 2024. We will definitely not receive the planned additional income in 2023 [from the sale of scrap], and additional income from the export of scrap metal in 2024 is also under threat,” Liaschenko said.
According to him, changes to the financial plan, which provided for a small profit, were submitted back in May.
“Ukrzaliznytsia is now breaking even. According to our forecasts, there will be a profit in nine months,” the Ukrzaliznytsia board chairman said.
Liaschenko did not specify the size of the expected profit.
He also said that Prime Minister Denys Shmyhal ordered the development of a break-even plan during the finalization of the financial plan for the current year.
According to Liaschenko, the financial plan for 2024 has also already been submitted and one of the components of the expected revenues, including from the sale of scrap metal. It also provides a small profit.
At the beginning of the year, JSC Ukrzaliznytsia submitted a financial plan for 2023, which, due to the large social burden and restrictions on cargo transportation, projected a loss of UAH 20.2 billion compared to the expected net loss of UAH 10.8 billion at the end of 2022.