Are you sure?

Rail Cargo Hungária revenue falls 20% last year

Rail-freight company Rail Cargo Hungária, the Hungarian unit of Rail Cargo Austria, generated revenue of HUF 70.7 billion (€255.92 million) in 2009, down 20% from 2008, the company informed MTI on Wednesday.

The company operated under the name MÁV Cargo until March.

Rail Cargo Hungária transported 32 million tons of freight in 2009, down 25% yr/yr.

The company sustained operating losses of HUF 8.4 billion (€30.42 million) in 2009.

Rail Cargo Hungária told MTI that the company's domestic and export volume grew slightly in 2009, while its import and transit volume underwent a substantial decline.

The company retained its 3,100 workers in 2009 in spite of declining revenue stemming from the global economic crisis.

Rail Cargo Austria purchased the spun-off freight unit of Hungarian state-owned railway MÁV in December 2008. (MTI-ECONEWS)