Will Railway Freight Transport Become Unprofitable in 2026?

According to the Rail.insider publication, railway freight transport in Ukraine may, for the first time in history, become unprofitable in 2026. As a result, it will no longer be able to offset the losses of the passenger segment, as it had done for many years. This is indicated by the profit and loss forecast of JSC Ukrzaliznytsia for the period up to 2027.

Company data show that in 2023 freight transport generated UAH 20.9 billion in profit, while passenger transport incurred UAH 15.7 billion in losses. In 2024, freight transport is expected to yield UAH 20.4 billion in profit against UAH 18.1 billion in losses from passenger services.

However, starting from 2026, freight transport may become loss-making: the forecast for 2026 is a loss of UAH 0.6 billion, and for 2027 – UAH 4.9 billion. Losses in the passenger segment are projected to grow further, reaching UAH 21.9 billion in 2026 and UAH 24.4 billion in 2027.

More details and key reasons behind the deterioration of the financial situation of JSC Ukrzaliznytsia can be found at the following link: https://www.railinsider.com.ua/vantazhi-perevezennia-uz-zbytky-2026/.

Rail.insider is an independent analytical media outlet specialising in in-depth analysis of railway freight transport in Ukraine.

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