CEO: Russian Railways sees 50 bln rbl RAS net profit in 2020

MOSCOW, Dec 11 (PRIME) -- Russian Railways expects to receive a net profit of 50 billion rubles in 2020, as calculated under Russian Accounting Standards (RAS), CEO Oleg Belozyorov said on Wednesday.

In 2019, the company’s net profit should rise to 27 billion rubles from 18 billion rubles in 2018, he added.

“Despite market changes, lower tariff indexation, the net profit should amount to 50 billion rubles in 2020,” Belozyorov said.

Average annual growth of loading is expected at 2.5% in 2020–2022, he also said.

In 2019, loading is projected to decrease by 0.5%, he added.

Passenger traffic is expected at 1.2 billion people in 2019, the record high figure for the last 11 years, Belozyorov also said.

(63.5788 rubles – U.S. $1)

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