JSC Ukrzaliznytsia ended 2024 with a net loss of UAH 2.71 billion, although the company’s revenue increased by 11.1% to UAH 102.87 billion. According to the annual report, operating profit from freight transportation amounted to UAH 20.39 billion, which is 2.3% less than in 2023. At the same time, the passenger segment deepened its losses to UAH 18.1 billion (+15.4% y/y), remaining deeply unprofitable.
The main source of profit in freight transportation is the infrastructure component, which brought in UAH 13.3 billion (+8.3% y/y). At the same time, profit from the wagon component decreased by 11.7% to UAH 6.93 billion, and the locomotive component fell almost five times to UAH 0.15 billion. The total revenue of the cargo segment increased by 10.3% to UAH 81.8 billion.
In passenger transportation, despite the revenue growth of 14.8% to UAH 10.67 billion, losses remain significant: intercity and international transportation caused UAH 8.81 billion in losses, suburban transportation caused another UAH 9.31 billion. Revenue from suburban transportation amounted to only UAH 0.52 billion, which is less than in 2023. Ancillary activities brought in UAH 2.99 billion in operating profit (-3.7% y/y) with revenue growth of 15.3%.