České dráhy will publish last year's economic results today

České dráhy will publish last year's economic results today

Czech Railways will publish last year's economic results today

Czech Railways, logo – illustration photo.

Prague – Today, the Czech Railways Group will publish its annual report, including last year's economic results. In the first half of the year, the state carrier managed a loss of 931 million crowns, which was a year-on-year deterioration of 714 million crowns. The main contributor to the negative development was the rising costs of energy and materials, which rose by billions of crowns. At the same time, revenues increased by more than three billion to almost 21.3 billion crowns.

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Personnel transport, which had a loss of almost 1.2 billion crowns, contributed mainly to deepening the half-yearly loss of the group. It grew despite the increase in the number of passengers, which the railways transported in the first six months of last year by 75 million, a year-on-year increase of half. Freight carrier ČD Cargo, on the other hand, had a profit of 126 million crowns in the first half of the year.

For the year before last, the České dráhy group reported a loss of 1.6 billion crowns, which was an improvement of 2.5 billion crowns compared to 2020. Passenger transport reduced the loss to 1.87 billion crowns, other subsidiaries ended in profit. Both 2021 and 2020 were affected by the coronavirus pandemic and associated restrictions. Česká dráhy transported 120.7 million passengers the year before last, three percent more year-on-year. Compared to the pre-covid period, however, it was still almost a third less.

The České drah group consists of the passenger carrier and freight carrier ČD Cargo. The group also includes the Railway Research Institute, the data service provider ČD Telematika and the ICT service provider ČD Informační systémy. The number of employees fell to 21,700 in the first half of last year, which was roughly 700 less year-on-year.