OREANDA-NEWS. September 23, 2010. The Russian Railways group of companies nearly doubled net profit to 152.2 billion roubles according to International Financial Reporting Standards (IFRS) in 2009 compared with 2008, reported the press-centre of Russian Railways.

Group revenues in 2009 fell slightly by 4% to 1,154.46 billion roubles, including revenues from freight shipments declined by 6% to 833.36 billion roubles, while revenues from passenger traffic increased by 3% to 166.656 billion roubles.

EBITDA in 2009 was 329.94 billion roubles, 51% higher than the comparable figure of 218.78 billion roubles in 2008. EBITDA margin for 2009 amounted to 28.6%, compared to 18.2% in 2008. The increased margin was mainly achieved by optimisation and cost reduction on the back of increased operating efficiency, and to increased subsidies from federal and local budgets in connection with government regulation of rail tariffs and rates.