One of the worst results in RCA’s history impending in 2010
ÖBB management expects Hungary’s government to change the course with regard to Rail Cargo Hungaria Rail Cargo Austria AG (RCA) has set its course to a “turnaround“. Economisations in sales (keyword: centralisation) and absolute customer orientation shall economically pick up the cargo transport division of the ÖBB group. “RCA AG is about to face a historically bad result. If Hungary’s government does not change its course, a radical re-dimensioning of Rail Cargo Hungaria is not to avoid”, Christian Kern, CEO of ÖBB Holding AG, announced last week at a press conference. He also considered wood and agricultural products transport as less productive. For some business activities the level of cost recovery is 30 to 40 per cent. In case the plans to implement price increases should fail, the relevant services will be ceased, the ÖBB CEO disclosed. According to Kern Rail Cargo Austria has lost EUR 650 million of their own capital within three years. “The consequences of the crisis affect cargo transport, but these problems are also home-made. At the same time Hungary’s government has changed the rules for the holding in Hungary several times”, the ÖBB manager claims. The Rail Cargo Austria group registered a turnover of EUR 1.382 billion in the period from January to July 2010 (up 12 per cent on the previous year) at an EBT-loss at the amount of EUR 77 million after minus EUR 81 million last year. In the first seven months the ÖBB group has a turnover at EUR 3.127 billion (up 13 per cent) and an EBT of minus EUR 46 million (1-7/2009: minus EUR 31 million). Quelle: LogEastics |