Montenegro, Montecargo returns to its former glory

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The state company for rail freight transportation Montecargo, after several years of agony in business, is on the White List of taxpayers, regularly pays all obligations, operates positively and finances investment works by itself, management representatives announced.

The office of the director of Montecargo, Vladimir Božović, told Vijest that the financial and consolidated report for last year has not yet been completed and that it will be submitted by the deadline, that is, by March 31, but that they ended the year with a positive result.

Last year, Montecargo transported 1.35 million tons of cargo, which is 42% more than in 2021, and the revenue increased by the same percentage. Compared to the pre-crisis year of 2019, the volume of transportation increased by 17%, while revenue increased by 33%.

– The volume of transport was in decline in October, November and December of last year due to infrastructure works on the Serbian Railways line and the closure of the line. We express our doubt that the final result will be in accordance with the plan, but regardless of the stated decline, after the final accounting calculation, we expect a positive result – the company stated.

They added that this result was achieved by a great effort in terms of increasing the volume of transportation and a larger share in the total result, motivating existing users by raising the quality of the service and bringing in new ones.

– In general, we worked on improving operations on the increasingly demanding market – the company announced.

Through investment in the last year, they achieved an increase in the mobility of their fleet from 58 to over 90%.

– Investments in rolling stock last year amounted to EUR 3.85 million, all from business income, without credit borrowing or assistance from the majority owner of the state. Last year, an investment was made on 93 wagons, a major investment repair on two electric locomotives that are already in traffic and an investment repair on another electric locomotive that is in progress and is expected to be completed in May – said Montecargo.

They said that two more contracts were signed for the investment repair of two more electric locomotives, the total value of which is EUR 1.3 million.
– As a company whose main activity is rail transport of goods, as market-oriented and whose business is based on commercial conditions, we consider the above result a great success, because after many years with accumulated debts from the previous period, we successfully fought on the market and achieved a positive result – the company stated.

They announced that they will pay for all investment repairs of rolling stock, which are measured in millions, from business income. Not a single obligation towards the employees was missed or delayed, and the great success and challenge at the beginning of the year was, according to them, the inherited tax debt that they successfully settled.

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