Romanian railway freight carrier estimates losses of EUR 30 mln

Romanian railway freight carrier CFR Marfa estimates losses of RON 137.2 million (EUR 29.8 million) for this year. The company expects total revenues of RON 823.3 million (EUR 179 million) for 2017, according to the carrier’s budget. The Transport Ministry, which is the majority stakeholder, wants to increase wage costs, compared to the initial budget projection, to pay overtime and meal vouchers. The company estimates total expenditures of RON 960.6 million (EUR 208.9 million) for this year, RON 256.7 million (EUR 55.8 million) of which are salaries. CFR Marfa has initially planned RON 875.2 million (EUR 190.3 million) in total expenses for this year, according to the initial draft budget the Government approved in May. The company has about 6,600 employees. editor@romania-insider.com