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MÁV profitable at operating level in 2012

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State-owned Hungarian railway company MÁV had operating profit of HUF 7 billion in 2012, deputy-CEO Erzsébet Szikszay Bandonfai told journalists on Monday. MÁV was reimbursed in full for track upkeep and maintenance, Mrs Bandonfai said. MÁV's track and rolling stock maintenance units broke even in 2012. It booked a HUF 3 billion operating profit on passenger activities and a HUF 4 billion operating profit on traction activities. MÁV had a pre-tax loss of HUF 3 billion in 2012. The company's debt fell to HUF 156 billion at the end of the year from HUF 205 billion twelve months earlier.

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