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Semi-annual profit of Russian Railways fell by almost five times

Semi-annual profit of Russian Railways fell by almost five times

the Net profit of JSC “Russian Railways” (RZD), the company accounted for the I half of the year 9,032 billion rubles, which is 4.8 times less than in the same period last year, according to the report of the company.

While the revenue decreased in January—June by 4.1% yoy to 879,678 billion. Gross profit fell by 28.8% and amounted to 116,539 billion.

we also Recall that in late June the international rating Agency Moody’s confirmed the credit rating of Russian Railways at the level of Baa2, but revised the rating Outlook from “stable” to “negative”. The senior unsecured rating of RZD also affirmed at “Baa2”.

“the affirmation of the rating of Russian Railways and a negative Outlook on it reflects the growing pressure from an unprecedented outbreak of the coronavirus in operational and financial performance of the company”, — stated in Moody’s.

Previously the data were published, according to which “Russian Railways” transported in may this year of 33.6 million passengers, which is 67.6% less than in the same period last year. While in the suburban message has been sent 31.6 million passengers (minus 66,4% yoy), long-distance — 2 million (minus 78.9 per cent).

For the first 5 months from the beginning of the carriage of passengers by rail fell by 31.3% yoy to 320,6 million passengers, from them long-distance was shipped 26.3 million passengers (minus 36.1 per cent), in the suburban message — 294,3 million (minus 30.9 percent).

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the ruble has significantly depreciated the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

on 2 June Prime Minister Mikhail Mishustin reported on the nationwide state plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will amount to about 5 trillion roubles. June 19, Putin was sent a revised draft of the national plan.

Stories about how you tried to get help from the Russian state in terms of coronaries and what came of it, email it to COVID-19@rosbalt.ru

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