Operail’s profit numbers increased again
The international transport and logistics company Operail increased its net profit for the first three quarters of last year by two million euros compared to the previous period. Other economic indicators also showed positive results.
Operail’s last year’s nine-month EBITDA increased by a quarter compared to 2020 and amounted to 13.4 million euros. The group’s turnover, which amounted to 55 million euros, showed a strong result and a 14% growth. “Although last year has been difficult and challenging for us, we were able to show good results in the first three quarters despite the volatile economic environment,” commented Raul Toomsalu, Chairman of the Management Board of Operail. By the end of the third quarter of 2021, Operail’s net profit was 3.5 million euros. In 2020 Q3, the company’s net profit was 1.5 million euros.
According to Toomsalu, the good results are based on a strong start to 2021. “In the second half of the year, the volume of freight transport started to show a slight downward trend, but fortunately, our total annual volume was positive,” said Toomsalu. “There have been warning signals about the transport of fertilisers, where the volume has decreased slightly in recent months, but we are flexible and will certainly adapt to any situation. We are doing everything we can to bring more transport to our railways and help companies choose an environmentally friendly alternative to road transport in the form of a multimodal freight service.”
In the first nine months of 2021, the volume of Operail’s freight transport was 9.3 million tonnes, which is 12% more than in the same period in 2020. In terms of product groups, mineral fuels have shown an upward trend and fertilisers a downward trend compared to 2020. Revenues from renting wagons decreased by 5% due to price pressures from the coronavirus at the beginning of 2021, but have now picked up again. Rental income amounted to 10.7 million euros. In total, the group has rented more than 2,500 wagons.
In addition to the parent company, the consolidation group of AS Operail also includes Operail Holding OÜ, Operail Repairs OÜ, and AS Operail Leasing as well as subsidiaries in Finland – Operail Finland Oy and Operail Leasing Finland Oy. The main activity of Operail Repairs OÜ is the maintenance of rolling stock and the construction of locomotives. The main activity of AS Operail Leasing and Operail Leasing Finland Oy is wagon rental. The main activity of Operail Finland Oy is rail freight transport in Finland.