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Rusian raillways post results |
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The loss on traffic is not compensated but even aggravated by the results of other activities. The income on subsidiary activities was only 95.3% of the planned value, which caused the loss of 1.2 billion roubles to the corporation.
The following administrations literally wrecked the plan on income from subsidiary activities: Zheldorremmash (-412.1 million roubles or 25%), Vagonremmash (-64.5 million roubles or 6.3%), and Remput’mash (-145 million roubles or 36.4%).
Vladimir Yakunin pointed out that the effect of negative external factors was aggravated by unfair employees of the corporation itself. There have been numerous facts discovered when freight descriptions in shipment documents are falsified so that the freight is illegally classified to the first tariff class. Such violations have been found at Moscow, North-Caucasian, Sverdlovsk, and other Railroads.
In 108 out of 10,000 carriages examined there were falsifications of freight tariff classification found, 5.6 million roubles of freight income being lost. Taking into account that about 58 thousand carriages are dispatched at the network daily, the loss may reach hundreds of millions of roubles a month!
Vladimir Yakunin said that ‘already this February, after first negative macroeconomic signs of the corporation’s income and spending, system proposals for correcting the plan of the corporation’s operational costs and investment programme were developed. Their fulfilment would provide financial equilibration of Russian Railways’ work.’
However, no proper decisions had been made at that time that aggravated the corporation’s financial position making it necessary to plan more strict measures for reducing costs during the second half year.
Vladimir Yakunin set the task to compensate the external cost pressure on the corporation’s expenditure by realising the measures for reducing the corporation’s spending at all levels.
At the same time, the corporation is unable on its own to compensate the loss of income due to the changing structure of freight turnover. Therefore, the corporation persistently requests the State regulatory authorities to perform this year an additional 4% indexing of freight tariffs.
However, the corporation’s President Vladimir Yakunin said that ‘even if the additional indexing is done we shall not pay less attention to the cost economy. The additional indexing may ensure minimum profitability of the corporation this year only in combination with full-scale internal measures for reducing costs.’
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