JSC Pasažieru vilciens (PV)
Governance structure
Reg. No. 40003567907 WEB: www.pv.lv State ownership 100% Related companies and capital shares: JSC VRC Zasulauks 51%
Shareholder - Ministry of Transport Chair of the Supervisory Council – Sandis Šteins Members of the Supervisory Council – Inta Liepa, Lita Kalniņa Chair of the Management Board – Andris Lubāns Members of the Management Board – Inga Vagele, Aldis Daugavvanags
PV is the only provider of domestic public transport services that transports passengers across the territory of Latvia by rail. On average, 22 lines of electric trains and 15 diesel trains run on daily basis in order to provide passenger services. PV also carries out maintenance and capital repairs for the rolling stock required for transportation.
General Strategic Goal
Main financial indicators, thousands EUR Turnover Profit/Loss EBITDA
2015
2016
63 517.0
64 931.7
-246.0
433.0
5 261.4
6 678.2
Assets
53 339.6
55 234.9
Share capital
20 868.0
20 868.0
Equity
14 749.9
14 936.7
Investment in fixed assets
By upgrading the existing rolling stock, buying new trains and, in cooperation with SJSC “Latvijas dzelzceļš”, by improving the infrastructure of the stations, PV will significantly improve quality of its services over the next five years, which will allow PV to become the best passenger carrier in Latvia. It is planned to develop and implement a ticket discount system and increase the speed and intensity of train, thereby enhancing the competitiveness of PV in the market of transport services.
Donations received
0.0
0.0
Donations made
0.0
0.0
The most important events in 2016
Funding received from the state budget
43 697.8
45 927.7
Profitability (profit/turnover), %
0.03
0.67
• Modernisation of 19 diesel train is completed (total project cost 22 million EUR). • Introduced zone tariff system on electric train lines and RigaSigulda line, introduced mobile cash registers and train electronic tickets, available on the Internet site and mobile app.
Planned most significant events in 2017
36 895.6
47 457.8
Dividends paid to the state budget
621.4
0.0
Contributions made to the state and municipal budget
-678.7
-3 201.7
Main financial indicators, % and factors ROA (profit/assets), %
0.03
0.78
ROE (profit/equity), %
0.12
2.90
Total liquidity (current assets/short term liabilities)
0.77
0.36
D/E (liabilities/equity)
2.63
2.70
1 140
1 116
11.4
12.0
Other indicators
• To continue the procurement of new electric trains replacement of electric trains rolling stock and introduction of scheduled intervals until 2021. • To complete development of a modern ticketing system that meets the requirements of regulatory enactments, which will save time on ticket inspection and provide more accurate tracking of passengers on trains.
Main financial goals Cost per seat km (excluding infrastructure) – 0.013 EUR.
Main non-financial goals • Number of trips - 17.2 million • Number of passenger-km - 553.5 million • Number of train-km - 5.5 million
Number of employees Average gross remuneration per employee per year, thousands EUR Gender representation in management, f/m
3/3
Annual report in accordance with IFRS
yes
• Number of wagon-km – 26.4 million • Paid passenger market share in the regional passenger transport - 35.5%.
Achieved results • For the first time in nine years, the number of passengers has increased - in 2016 carried 17.1 million of passengers, which is by 1.1% more than in 2015. • Reached profit of 0.5 million EUR.
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