ČD Group's economic result improved by CZK2bn (€77m) last year

Freight transport

The overall positive result of the ČD Group was also supported by rail freight transport. ČD Cargo achieved a pre-tax profit of CZK 310 million on the transport of 64.2 million tonnes of freight. This is 1.4 million tonnes more than in the previous year. The company's performance increased not only on the domestic transport market, but especially abroad, where ČD Cargo continues to successfully expand and deepen its cooperation with major customers in international transport.

However, ČD Cargo's results were negatively affected by the extreme increase in costs due to the rise in the prices of practically all input materials, which the carrier had to partially pass on to its customers in the form of additional price increases. Nevertheless, the demand for transport of solid fuels to power and heating plants also increased due to the energy crisis. The positive result will allow ČD Cargo to continue the process of modernisation and renewal of its rolling stock - locomotives and freight wagons - which is essential to ensure adequate capacity on the European rail market in the future.

Passenger transport

Czech Railways carried 157 million customers last year, 36 million more than in the previous year. The transport performance last year reached 7.7 billion passenger kilometres, and the average distance travelled increased to 49 kilometres, which was even higher than in 2019, before the COVID-19 pandemic.

 “After two years of losses due to the COVID-19 pandemic and the subsequent sharp rise in the price of inputs, it is just the comeback of people to travelling by trains that was the main prerequisite for the national carrier to approach a balanced economic result and to end up with a slight profit before taxation. However, in view of the massive renewal of the rolling stock and elimination of the historical capital expenditure debts, we have to raise a part of the financial means for new investments from third-party sources,” says Michal Krapinec, Chairman of the Board of Directors and Director General of Czech Railways.

The renewal of the rolling stock is currently financially secured by the issue of green bonds last autumn and credit facilities from Eurofima.

Economic results before taxation (figures in million CZK)