RZD expects freight to grow 2.5-2.8% annually in 2012-2014
MOSCOW. Dec 21 (Interfax) - Russian Railways (RZD) expects freight to grow 2.5%-2.8% annually in 2012-2018, the rail monopoly's chief, Vladimir Yakunin, told reporters.
"As for the extent to which freight grows, it will be 2.5% to 2.8%," he said.
With regard to the expected results for 2011, Yakunin said that freight could grow 2.9% to 1.24 billion tonnes, and that freight turnover including empty cars could grow 7% to 2.7 trillion tonne-kilometers.
RZD forecasts that railway transport's share in total freight turnover could grow by almost one percentage point to 43.2% in 2011.
Passenger turnover is expected to total 139 billion passenger-kilometers in 2011 - the same as in 2010. This includes 115.576 million passengers in long-distance travel (1.2% less than in 2010) and around 900 million passengers in commuter travel (4.3% more than in 2010).
According to preliminary data, income from the company's main activity will grow 7.3% in 2011 to 1.282 trillion rubles. However, its net profit will plummet 77.3% to 17.7 billion rubles, RZD predicts.
The company's earlier forecasts were a bit different. According to the financial plan that RZD's board of directors approved at the beginning of December, freight growth was forecast at 2.8% for 2012 to 1.275 billion tonnes. For 2013, it was predicted to grow 3% to 1.313 billion tonnes, and for 2014 - 3.2% to 1.355 billion tonnes. Under the financial plan, freight shipping was set to grow by 3% on average per year. RZD had also forecast that income from its main activity would grow by 3% on average.
RZD has said that its financial plan for 2012-2014 was put together taking into account current instability and high volatility in world finances and commodity markets.