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Slovenia: Slovenian railway company posts poor results in 1Q

June 2008.

Despite the forecasts of the Slovenian national railway company Slovenske zeleznice (SZ) on the improved performance this year, the beginning of the year proved to be the opposite. Slovenske zeleznice proved to be in the red despite the financial injections of the Government, and the results of the cargo transport were the most surprising, since revenues came to only 87.2 percent of the plan, while expenditure exceeded the target.

SZ posted the loss of EUR 2.44 million in 1Q 2008, and another EUR 1 million on top of that in April. As the Supervisory Board already warned the Management, SZ do not have any property left to sell and thus improve its figures, like they did over the past 2 years.



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