Cargo, Latvia, Port, Transport
International Internet Magazine. Baltic States news & analytics
Saturday, 24.08.2024, 00:50
Riga Commercial Port posts EUR 16.7 mln in 2016 profit
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The consolidated turnover of RTO
holding last year contracted 20.5% from 2015 to EUR 175.329 million, and the
holding reported a loss of EUR 197,493 in contrast to profit 2015.
The management of parent company Rigas
Tirdzniecibas Osta said in the report that the profit was generated mostly
from the capital of the holding’s subsidiaries and the management services
provided to the subsidiaries.
In 2016, RTO subsidiaries
reloaded 10.3 million tons of cargo, down 16.2% from a year before, and
forwarded 11.1 million tons of cargo, down 10.5%. Cargo shipments by rail fell
27.3% from 2015 to 8.5 million tons last year.
Rigas Tirdzniecibas Osta reported a profit of EUR 20 million on EUR 305,146 turnover for 2015. The
RTO holding, meanwhile, turned over EUR 219.324 million and earned a profit of
EUR 100,340 in 2015.
A 60% stake in RTO belongs to MCH Investicijas, which in turn is
indirectly owned by the families of former politicians Andris Skele and Ainars
Slesers, according to information available at Firmas.lv.