ČD Cargo financial results in the first half of 2023

ČD Cargo, the largest domestic rail freight carrier, which also transports goods by rail through branches and subsidiaries in Germany, Austria, Poland, Slovakia, Hungary and Croatia, achieved earnings before tax (EBT) in the first half of 2023 according to international accounting standards (IFRS) in the amount of CZK 481 million and net profit after tax in the amount of CZK 314 million, and thus the freight transport segment contributed significantly to the consolidated result of the ČD Group.

In the first half of this year, the ČD Cargo Group transported a total of 30.9 million tonnes of goods. "We continue to expand into foreign markets where we manage to significantly increase transport volumes. The growth of volume abroad is positively reflected in the consolidated results and enables us to use our capacities of locomotives and wagons more efficiently. On the domestic transport market, due to the unfavorable situation in some industrial sectors and energy industry, the transport volume decreased by 7%. This figure corresponds to the statistics of overall performance on the railway published by Správa železnic which shows a year-on-year decline in performance in gross tonne-kilometers for all carriers of 8.6%," adds Tomáš Tóth, Chairman of the Board of Directors of ČD Cargo, a.s.

Mainly thanks to the development of international transport, ČD Cargo saw a year-on-year increase in revenues by CZK 880 million (12%). International transport also brings about the necessity to invest significantly in the interoperability and modernization of the fleet of freight wagons and locomotives, which is why ČD Cargo also continued with its investment strategy in the first half of the year.

"Investments in the renewal and modernization of railway rolling stock are a necessary pillar of our strategy and we invest all available resources in them. We are also engaged in finding the most efficient solutions for the transport of goods in terms of intermodality. In the future, we are ready to cooperate more with road haulers in the transport of single wagon loads so that this segment is preserved and, through modern transport technologies that will simplify and speed up the loading and unloading process, make it more economical. Last but not least, we are looking for alternatives to replace the deficit of previously traditional commodities transported by rail. Now, for example, we are focusing on the beginning transformation in the heating industry where the transportation of fossil fuels in the future will partially be replaced by the new transportation of wood chips and municipal waste," adds the chairman of the board of ČD Cargo, a.s., Tomáš Tóth.


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ČD Cargo Logistics

ČD Cargo

It offers the transport of a wide array of goods ranging from raw materials to products with a high added value, transport of containers, special consignment, rental of railway wagons, railway siding services, and other transport services.