Slovenia Railways Reports €35mn Profit for 2019

By , 11 Aug 2020, 10:45 AM Business
Slovenia Railways Reports €35mn Profit for 2019 Wikipedia - Lan Glad CC-by-0

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STA, 10 August 2020 - The supervisors of Slovenske Železnice have confirmed a revised business report for 2019, which shows the railways operator recorded a net profit of EUR 35 million, and appointed Aleksander Mervar the new chief supervisor.

Slovenske Železnice generated EUR 601 million in revenue in 2019, EBITDA amounted to EUR 87 million, EBIT to EUR 42 million and net profit to EUR 35 million, shows the updated report, discussed by the supervisors last Friday.   

Meanwhile, Mervar, the chairman of state-owned power utility Eles, was appointed chief supervisor by the nine-strong board, which started its term in September last year. The board had initially appointed Bojan Branko chief supervisor, but Branko passed away in June to be temporarily replaced by Aleksander Nagode.

The supervisory board also features Adam Vengušt, Igor Janez Zajec, Tanja Bolte, Silvo Berdajs, Zlatko Ratej and Jože Pavšek.

Slovenske Železnice moreover said on Monday that the group had adjusted its business plan for 2020 in the face of the coronacrisis.

The company, which will face around EUR 30 million in severance costs due to a planned reduction of its workforce from 7,200 to 6,200 by the end of the year, expects an operating profit of EUR 5.5 million.

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