"Rīgas satiksme" has achieved positive financial performance in the first half of the year
Enhanced monitoring of the services and material assets procurement procedure has allowed the Board of "Rīgas satiksme" to offset the revenue shortfalls in the public transportation industry that took place within the period of March 13 to June 30 this year due to external reasons – the COVID-19 pandemic – to a considerable extent. The Riga City Council also acted as a conscientious owner of "Rīgas satiksme" and passenger transportation contractor, having provided a partial compensation for the losses inflicted by COVID-19.
The company's turnover in the first half of 2020 was 9.7 million euros, as compared to the first six months of 2019, including 8.7 million euros of revenues from public transportation fares and 0.96 million euros of income from parking services in the first half of this year.
Expenses were reduced by 11.3 million euros as compared to the first 6 months of 2019; the costs of procurement of spare parts, materials and fuel were cut down by 4.9 million euros, while the amount of service costs was decreased by 6.4 million euros.
In the first half of 2020, the total costs were 11% lower than within the same period in 2019.
The Riga City Council compensated the company for COVID-19 pandemic-related losses in the amount of 2.3 million euros.
Financial performance indices for the first half of 2020 are published here: https://www.rigassatiksme.lv/en/about-us/publishable-information/finance-information/
To communicate with «Rīgas satiksme», please use our hotline 20361862 or email to info@rigassatiksme.lv. You can also contact us on our website at www.rigassatiksme.lv, section «Contact us» («Sazinies ar mums»), where everybody can submit his/her application.
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