Losses of Russia's largest electric train operator quadrupled

The net loss of the largest electric train operator in Russia, the Central Suburban Passenger Company (operates in 11 constituent entities) in the first half of 2022 amounted to 4.344 billion rubles, which is four times more than the same period in 2021, when losses were at the level of 1.097 billion rubles.

The company's revenue decreased by 5% - to 24.26 billion rubles.

Last year, the loss was lower due to two subsidies provided to the organization: from the federal authorities to compensate for the rental of electric trains during the pandemic and from the Moscow Ministry of Transport to compensate for the loss in income that appeared due to the regulation of the tariff for 2020.

The loss for the first half of 2021 was twice as much - 8.7 billion rubles. Based on the results of the entire 2022, the company expects a positive financial result, writes RBC. This will be facilitated by an increase in passenger traffic to 535 million people, which is 3% more than last year. In 2021, net profit amounted to 2.822 billion rubles, it carried 520 million passengers. The CPPK accounted for 56% of net profit and 54% of the passenger traffic of all suburban railway companies.

Recall that in 2017 the Moscow Region sold 76 shares, or 25.33% of the CPPK. Previously, a 25% stake in TsPPK was sold almost half the price of the starting price, for 2.286 billion rubles. He sold the Russian Railways package, and the little-known company "Route Systems" became the buyer.