ZAGREB, 3 May 2022 - The HŽ Cargo railway freight company generated a revenue of HRK 482.3 million in 2021, which is 5% more than in 2020, while EBITDA increased from 2% to 7%, HŽ Cargo reported on Tuesday.
This is the result of a series of activities undertaken to ensure liquidity and optimise business, new contracts and new investments in modernisation valued at almost HRK 50 million, HŽ Cargo said, adding that it has retained a market share of 53% and increased productivity by 11%.
According to preliminary results for Q1 2022, the company generated an 11.5% increase in revenue year on year while the EBITDA margin increased from 1% to 4% and almost HRK 6.5 million has been invested.
New contracts have led to a significant increase in freight transported, of almost 14%.
"Despite the structural problems facing us we are contracting new jobs, investing in modernising the rolling stock and in labour force quality. These preliminary results for 2021 confirm a bright future for HŽ Cargo," CEO Dragan Marčinko said.
