Hellenic Railways (OSE) showed positive EBITDA results for the third year running, the company announced on Tuesday, reflecting the company’s efforts to rationalise its operating costs.
According to results, EBITDA for 2013 came to 52.6 million euros, a 76.54 pct improvement, while those of the Group overall came to 45.2 million euros, up by 119.55 pct.
Structurally, 2013 saw the breakoff of the section related to maintenance of railways materials that was then absorbed by newly-founded Hellenic Company for the Maintenance of Railways Material (EESSTY). The new entity also received a transfer of all GaiaOSE state-owned shares held by OSE.
In an announcement, the OSE Group said that it now includes OSE and its subsidiary, ErgOSE, “having a clear goal of designing and developing the country’s railway network through the construction of new projects and the maintenance of the existing network, thus guaranteeing the reputation and quality of transportation.”