The net profit of Russian Railways under IFRS in the first half of the year amounted to 15.2 billion rubles

AK&M 27 August 2021 18:19

The net profit of the Russian Railways holding under IFRS in the first half of 2021 amounted to RUB 15.2 billion against a loss of RUB 46.6 billion a year earlier. This is evidenced by the company's financial statements.

EBITDA reached RUB 252.8 billion, which is 30.1% more than in the first half of 2020. Due to the faster growth of revenues compared to the operating expenses of the Russian Railways holding, the EBITDA margin in the first half of 2021 increased to 23.3% (19.8% in the first half of 2020). Net debt increased to RUB 1.76 trillion. compared to 1.6 trillion rubles as of December 31, 2020.

JSC "Russian Railways" is one of the world's top three railway companies. The company started operations on October 1, 2003. The founder and sole shareholder of JSC "Russian Railways" is the Russian Federation. On behalf of the Russian Federation, the powers of the shareholder are exercised by the Government of the Russian Federation. Russian Railways ' net profit under RAS for 2020 decreased to RUB 282.96 million from RUB 53.45 billion a year earlier. Revenue decreased by almost 2% to 1.8 trillion rubles from 1.95 trillion rubles. Gross profit decreased by 14% to RUB 263.16 billion from RUB 305.93 billion.