Finland Times

Monday, 24 June, 2024
Home BUSINESSVR faces revenue shortfall
Sat, 16 Feb, 2013 04:07:45 AM
EUR 39 million earns last year
FTimes-STT Report, February 16


The Chief Executive Officer of the transport agency VR (Railway),  Mikael Aro on Friday expressed disappointment over the earning of the company during the last year.

The authority also said that the VR group,s earnings was still lower compared to the target amount as the company earned EUR 39 million last year.

They also held the poor export of industrial restructuring, high price of energy and wages hike of employees  responsible for the shortfall.

The earning was over EUR 15 million in the previous year.

Although the VR set a three-year program to collected more than EUR 90 million in savings, the earnings of the past two years did not reflect the possibility for its implementation.

The CEO, also said that the revenue will raise by the marketing policy and the reasonable price evaluation.

However, VR decided to buy new electric locomotives which will be the single largest investment.

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