Romanian Rail Operator CFR Marfa Posted RON133.5M Losses In 2011
Romanian state-owned railway company CFR Marfa last year posted losses of 133.5 million lei (EUR30.76 million), 67.9% higher than the level approved in its budget, RON79.5 million.
The last year in which CFR Marfa turned a profit was 2007, when it posted RON6.12 million, down 85.7% compared with the previous year, according to Finance Ministry data. The rail operator posted losses of RON169.44 million in 2008, RON341.95 million in 2009 and RON535.26 million in 2010.
Last year, CFR Marfa’s revenue was 6.2% higher than set in its budget, as revised in December, RON1.19 billion compared with RON1.12 billion, but expenses were also higher, RON1.32 billion compared with RON1.2 billion.
For 2012, CFR Marfa expects losses, in the amount of RON95 million, which would decrease to RON23 million in 2013 and increase again in 2014, to RON35 million.
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