MÁV group revenues slightly down last year
State-owned railway company MÁV Zrt. had consolidated sales revenues of HUF 132 billion last year, down from HUF 138 bln in 2015, as income from rail cargo haulage decreased, the company said today, according to Hungarian news agency MTI.
Pre-tax profit was HUF 14 bln in 2016, compared to HUF 40 bln in 2015, said CFO Erzsébet Szikszay Badonfai.
The companyʼs debt decreased from HUF 99 bln to HUF 66 bln by the end of last year.
MÁV posted HUF 151 bln revenues and MÁV-Start, the passenger unit of the group, HUF 99 bln.
President-CEO Ilona Dávid noted that the MÁV group acquired two subsidiaries in 2016, one managing the upgrade of the Belgrade-Budapest railway and one responsible for the transfer of the capitalʼs HÉV suburban railway to MÁV.
Deputy CEO László Pál said that of the 98 HÉV passenger carriages the company "inherited," 23 will need to be replaced and the rest refurbished. MÁV will spend HUF 1.7 bln on the suburban railway this year, upgrading tracks and improving its vehicle fleet.
MÁV had 36,000 employees last year and 137.9 million passengers used its services, 2.3 million more than the year before. Some 58 million of those passengers came from Budapest and its suburbs.
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