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Croatia's HZ Cargo boosts revenue almost 5% in 2021

Author Annie Tsoneva
Croatia's HZ Cargo boosts revenue almost 5% in 2021 HZ Cargo. Photo by HZ Cargo.

ZAGREB (Croatia), May 3 (SeeNews) - Croatian company for railway freight transportation HZ Cargo said on Tuesday its revenue reached 482.3 million kuna ($67 million/64 million euro) in 2021, up almost 5% year-on-year.

Despite the COVID pandemic, in 2021 HZ Cargo achieved growth of key business indicators and the trend continues this year, the company said in a statement.

Last year, its EBITDA margin rose to 7% from 2%, investments stood at 50 million kuna and company maintained its market share at 53%.

In the first quarter of 2022, according to preliminary figures, its revenue rose 11.5% on the year, EBITDA margin increased to 4% from 1% and the company invested some 6.5 million kuna.

It also reported 14% annual increase in the volume of transported freight in the first quarter of 2022.

(1 euro=7.557 Croatian kuna)

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