Croatias railway company HZ to post EUR 11.1mn in 2011 EBITDA.

By bne IntelliNews December 8, 2011
Croatian railway company Hrvatske Zeljeznice (HZ) is expected to report an operating profit (EBITDA) of HRK 83.2mn (EUR 11.1mn) in 2011, news portal Banka.hr reported. The companys non-consolidated loss for the current year is seen at HRK 41.8mn, down by 33.7% compared to 2010, HZ President Zlatko Rogozar was quoted as telling a news conference, presenting the companys annual results. HZs total unconsolidated revenue is projected to drop 4.1% to HRK 4.1bn in 2011, while expenditures are seen shrinking 4.7% to HRK 4.1bn. The company is expected to transport some 50 million passengers and ship 12.5 million tonnes of cargo in 2011. Rogozar said HZs 2011 investment totals around HRK 1bn, as HRK 354mn of them went into impoving the transport capacities, while the remainder was invested in the infrastructure. The company plans to turn to a HRK 600,000 profit in 2012. It expects to transport 55 million passengers and 15 million tonnes of cargo in 2012.

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