Ukrzaliznytsia posts net loss of UAH 7.3 bln over 9M with 15.4% cut in income

From January to September of 2025, JSC Ukrzaliznytsia's income from ordinary activities decreased by 15.4% compared to the same period in 2024, dropping to UAH 66.03 billion. The company incurred a net loss of UAH 7.32 billion, whereas it had earned a net profit of UAH 1.66 billion during the same period in 2024, according to the company's financial statements, which are available to Interfax-Ukraine.

According to the report, the company incurred a gross loss of UAH 7.02 billion in the first nine months of this year, compared to a gross profit of UAH 8.06 billion during the same period in 2024. Additionally, the company reported an operating loss of UAH 3.82 billion, compared to a profit of UAH 4.17 billion during the same period in 2024.

Revenue from passenger transportation increased by 11% to UAH 9.5 billion. However, revenue from freight and postal transportation decreased by 19% to UAH 50.1 billion, and revenue from other services decreased by 14.7% to UAH 6.36 billion.

The report states that investment expenses increased to UAH 11.51 billion in the first three quarters of this year, up from UAH 9.46 billion in the same period last year. Free cash decreased to UAH 6.81 billion in the first three quarters of this year, down from UAH 13.02 billion at the beginning of the year and UAH 17.27 billion a year ago.

At the end of September this year, Ukrzaliznytsia's equity decreased to UAH 181.34 billion, while liabilities increased from UAH 90.30 billion to UAH 109.70 billion. Current liabilities increased from UAH 18.43 billion to UAH 48.23 billion. Net debt increased from UAH 55.87 billion to UAH 73.01 billion over nine months.

According to the report, state grants for this period in 2025 amounted to UAH 18.94 billion, compared to UAH 9.66 billion for the same period last year.

According to Serhiy Leschenko, the Deputy Chairman of the Ukrzaliznytsia Supervisory Board, the company can no longer subsidize unprofitable passenger transportation due to the loss of 49% of freight transportation in 2021-2025. He proposes increasing freight tariffs by 41.5% in two stages next year and asks for budget support.

The 2026 draft state budget allocates UAH 4.2 billion for the development of urban passenger transport in Ukrainian cities, and UAH 1.2 billion for the modernization of the railway. In addition, UAH 1.8 billion is provided for the implementation of a joint project with the French government to supply rails to Ukrzaliznytsia.