Latvijas dzelzceļš – a leader in the Baltic States in 2008 | Latvijas dzelzceļš

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Latvijas dzelzceļš – a leader in the Baltic States in 2008

Monday, 20 July, 2009

Last year Latvijas dzelzceļš (LDz) transported a record high amount of cargos in its history – 56.1 million tons of freight. It is the highest indicator compared to other Baltic States and Finland, pointed Uģis Magonis, LDz Chairman of the Board. Today he announced the performance indicators of LDz for year 2008 to the media.

Kaspars Gerhards, the Minister of Transport of the Republic of Latvia said that LDz is one of those rare railway companies in Europe, which had an increase, not a decrease, in freight volumes last year. “Last year in Europe there started a decrease in freight volumes, and it is now continuing. Latvijas dzelzceļš is an exception – last year the volumes of freight increased and this year until now these volumes are being kept,” stressed the Minister.

In 2008 net turnover of Concern LDz was 299 million lats (in 2007 – 262 million lats), but profit – 13.4 million lats.

The previous year was notable for LDz, because LDz overtook a leader of the previous years – Lithuanian railways. LDz transported a record high amount of cargos – 56.1.million tons. In comparison, Lithuanian railways carried 55 million tons of freight, Estonian railways – 26.1 million, but Finnish railways – 41.9 million tons of freight. “Freight transport indicators are important not only because we have attracted cargos as export products, but especially because we have stimulated the inflow of money into the economy of Latvia because of freight transport,” U.Magonis commented the good indicators.

Besides the good freight turnover indicators last year LDz invested a considerable amount of money in rail infrastructure – 23.56 million lats were invested in track reconstruction of 88.5 km, 5.4 million lats – in change of 111 turnout sets, and 471 thousand lats – in repairs of B type rail tracks. 4.1 million lats were invested in the modernization of rolling stock hot-box detection system.

Last year Concern LDz paid taxes in amount of 72 million lats to the state budget, which is 5 million more than in 2007. Last year LDz was one of the biggest taxpayers of social insurance contributions and income tax in the State.

In April 2008 LDz extended passenger transport route Riga – Lugaži until station Valga, but in August was opened a diesel train (with an enhanced comfort) route Riga – Ventspils.

Concern Latvijas dzelzce ļš comprises the holding company SJSC Latvijas dzelzceļš and four subsidiaries: LDz Cargo Ltd. - a rail freight carrier;LDz infrastruktūra Ltd. – a company that provides infrastructure construction and maintenance works; LDz ritošā sastāva serviss Ltd. – a company that provides rolling stock repairs and maintenance works, and LDz Apsardze – a security company.


Prepared by LDz Public Relations Division