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MÁV sales revenue flat at HUF 152 bln in 2017

Net sales revenues of state-owned railway company MÁV totaled HUF 152 billion in 2017, little changed from the previous year, an annual report posted as a public record on Wednesday shows.

Photo by MÁV Co.

MÁV noted it received HUF 138 bln in subsidies in 2017. Other revenues climbed 21% to HUF 140 bln, state news wire MTI reported.

Material costs rose 9% to HUF 109 bln, while payroll costs climbed 7% to HUF 92 bln in 2017. MÁV had long-term liabilities of HUF 963 bln at the end of December, down 4% year-on-year.

Speaking at a press conference on Wednesday, MÁV President-CEO Ilona Dávid said MÁVʼs stock of debt had been reduced by HUF 240 bln since 2010. The remaining HUF 51 bln in loans is mainly for rolling stock, she added.

András Csepke, head of MÁV passenger unit MÁV-Start, said the railway company carried 139 million passengers last year.