Turnover of Pasazieru Vilciens passenger train company up 9% in Q1

• Published date: 20 May 2022
• Publication title: LETA

RIGA, May 20 (LETA) - Pasazieru Vilciens turnover in the first quarter of this year was EUR 11.126 million, up 9 percent from the respective period last year, while the company's profit increased 12.5 percent to EUR 227,024, according to the information published by the company.

In the first quarter of 2022, Pasazieru Vilciens carried 2.8 million passengers, which is by 46.9 percent more year-on-year.

The company's representative Sigita Zviedre told LETA that revenue from passenger transportation reached EUR 3.3 million, growing EUR 1 million or 50.4 percent from the first quarter of 2021.

Pasazieru Vilciens board chairman Rodzers Janis Grigulis said that even though in the first quarter of this year the state of emergency continued due to the Covid-19 pandemic, and there were restrictions on the number of passengers in public transport, the number of passengers was slowly rising. "At the time when inflation and the war in Ukraine considerably affects supply chains and costs of materials, people's demand for Pasazieru Vilciens services is very important," said Grigulis.

The market of paying passengers in the first quarter of this year reached 40.2 percent, which is by 3.8 percentage points more than in the respective period last year. Load factor in the said period reached 36.3 percent, which is by...