Using the profits left from the previous account period, Latvian Railway (LDz) has increased its base capital from EUR 289.142 million to EUR 327.622 million, according to information from Firmas.lv.
The rules for increase of the base capital states that the profits from the previous account period is to be invested into base capital. It was left in the hands of LDz. The money was planned to be used to finance restoration and maintenance of infrastructure in the 2015-2020 period.
As previously reported, LDz had a turnover of EUR 249.177 million in 2021, which is 1.9% less when compared with 2020.
The company also gained profits worth EUR 3.909 million in 2021. The year prior LDz suffered losses in 2020.
LDz is the company in charge of maintenance of public use railway infrastructure and the leading company of Latvian Railway concern. The concern consists of LatRailNet, LDz Cargo, LDz Rolling Stock Service, LDz Security, LDz Logistics, as well as LDz Infrastructure. The latter, however, entered a liquidation process in May 2022.
Also read: Latvia’s new Minister of Transport promises to focus on railway, motorway and public transport infrastructure