RZD posted $1,2 billion net loss in 2014
Published: Fri, 2015-04-24 10:13- Likes 1
Net loss of Russian RZD in 2014 amounted to 44 billion rubles (US$1,2 billion), according to a recent statement of the company.
According to RZD, devaluation of the Russian currency - ruble became the major reason of losses, as a significant part of the company's loan portfolio is comprised of foreign currency (US dollars, euros, Swiss francs and sterlings).
At present total debts of RZD for long-term loans is estimated at 715.71 billion rubles, compared to 579.15 billion rubles a year earlier. Among the largest creditors of the company are VTB, Sberbank, Deutsche Bank and some others.
RZD’s profit in 2014 decreased by 9.76% to 39.372 billion rubles, compared to 43.631 billion rubles in 2013. Of these, the profit from freight transportations was 57.58 billion rubles. At the same time the profit from passenger transportations declined by 2.238 billion rubles, compared to 2013.