SBB Cargo struggles with net results 2019
SBB Cargo, the freight division of the Swiss railway company SBB will change the net result of the first half of 2019 from a profit of 3.4 million francs to minus 0.13 million (3.13 and 0.11 million euros respectively).
The company earned 0.25 million francs (this was: 2.16 million) from domestic freight transport by rail. Before interest, taxes and extraordinary items, international transport delivered 1.02 million francs (this was: 1.64 million francs).
The loss below the line was the result of exceptional posts. Moreover, in the first semester SBB Cargo missed a government grant of nine million francs, which was still received in the same period last year. In this light, the deterioration of the financial results is not too bad.
According to the company, the volumes transported fell further in the first half of the year, both in single-car cargo transport and in transport with complete trains. The volumes in the transport of steel, wood and chemical products declined.
It was previously announced that SBB will transfer a third of its shares in SBB Cargo to four private parties, including Bertschi. The four must give an impulse to intermodal rail transport.