SŽDC Economy Results in 2018

SŽDC economy is being regularly checked and analysed with the objective to maintain economic and financial stability. A check of Key Performance Indicators (KPI) is to be carried out at all SŽDC organizational units with the aim to prevent exceeding total planned costs. ”The objective of SŽDC is spending financial means effectively and striving to safeguard the railway infrastructure on which safe reliable passenger and freight transport can be operated with stations and stops in a technical and esthetical state corresponding to modern transport requirements“, said Mr. Jiří Svoboda, Director General of SŽDC.

EBITDA Indicator
The EBITDA financial indicator from economy results in 2018 reaches positive values amounting to CZK 2.669 billion. EBITDA is the most important indicator showing operational performance of the company, representing the difference between revenues and expenses of SŽDC without taxes, interests and depreciations. At the same time, EBITDA is in fact free from non-financial clearance of reserves in the field of operation related to the levy obligation towards the Specialized Financial Office.

SŽDC Economy Result
The economy result reached for 2018 was a book loss equalling CZK – 529 million with external receipts and revenues of CZK 30.435 billion and external expenses of CZK 30.685 billion. A part of the economy result is also a postponed tax shown as an expense equalling CZK 280 million.

The economy result for 2018 demonstrates positive divergences compared to the plan for the period under consideration. The negative value of the SŽDC economy result is related especially to book depreciations. It is a book operation having no impact on the incomes and expenses balance sheet and it cannot be influenced by the SŽDC working economy. According to valid Czech laws and regulations however, depreciations are being reflected in the SŽDC economy results. SŽDC book depreciations are based on its long-term corporeal property consisting mostly of the railway infrastructure. According to accounting regulations, the property mentioned above being financed from investment subsidies is registered at accounts of balance and the value of property procured from investment subsidies is not being depreciated.

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