EVR Cargo en route to profit
The railway company EVR Cargo group has recorded a third consecutive profitable month. The fourth quarter net profit reached one million euros. The annual net result remained negative but was significantly better than expected.
“Current profit is supported by strong results in the railway transportation and better than predicted results in wagon rental operations. The contribution of the wagon repairs was modest, but we are working on improving the result. The cash flow and balance of EVR Cargo group are strong, which enables us to invest in attractive business projects also in the future,” said Raul Toomsalu, EVR Cargo Chairman of the Board.
EVR Cargo’s consolidated unaudited EBITDA for year 2017 was 5.4 million euros.
EVR Cargo is a leading railway company of Estonia. The main business areas are railway transportation, rolling stock rental, rolling stock repair and construction. There are 650 people working in the company.