Riga municipality’s public transport company SIA Rigas satiksme concluded the first half-year of 2021 with profits of EUR 172,000, as confirmed by the company.
At the same time, the epidemiological restrictions imposed during Covid-19 pandemic have considerably reduced the company’s revenue from passenger transportation services, which have reduced by 29.2% YoY.
Revenue from parking services has also reduced, as has the number of carried passengers.
According to company management, it was possible to conclude the first half-year with positive financial results thanks to reduced operational costs.
Covid-19 restrictions have reduced the company’s revenue from passenger transportation services by EUR 11.7 million. The number of carried passengers continued to reduce because of the pandemic. For example, in six months of 2021 RS carried almost 34 million passengers, down by 22%.
Looking at the structure of passenger transports, the number of passengers carried by RS in six months of 2021, when compared to the same period of 2020, the number of passengers using partial discounts reduced by 2 million and the number of passengers using 100% discounts by 2.4 million. The number of passengers who pay the full price for tickets has reduced by 2.7 million. The number of passengers using season passes has reduced by 2.5 million passengers.
In six months of 2021, revenue from parking services decreased by 21%, or EUR 1.2 million.
The compensation from the state and municipal budget reduced by 11.4% or by EUR 7.8 million, to EUR 60 million. (BNN/Business World Magazine)