MÁV group revenue slightly down last year
State-owned railway company MÁV had consolidated sales revenue 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, CFO Erzsébet Szikszay Badonfai said.
The companyʼs debt decreased from HUF 99 bln to HUF 66 bln by the end of last year.
MÁV Zrt. had HUF 151 bln revenue and MÁV-Start, the passenger unit of the group, HUF 99 bln.
Chairman-CEO Ilona Dávid noted that 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.
Vice-CEO László Pál said out of the 98 HÉV passenger cars the company "inherited" 23 will need to be replaced and the rest refurbished. MÁV will spend HUF 1.7 bln at HÉV this year on 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. There were 58 million passengers in Budapest and its suburbs.
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