Institutional Evolution of Romanian Railways

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Presentation transcript:

Institutional Evolution of Romanian Railways 1991 - 1997 GENERAL OVERHAUL OF TRACK INFRASTRUCTURE FREIGHT GENERAL OVERHAUL OF ROLLING STOCK PASSENGERS PASSENGER COACHES CLEANING REAL ESTATE COMMERCIAL ACTIVITIES IN RAILWAY STATIONS ROMANIAN NATIONAL RAILWAYS CLEANING OF RAILWAY STATIONS

Institutional Evolution of Romanian Railways 1998 [Governmental Ordinance 12 / 7 July 1998] Accordance with European Union directives Establishment of companies capable to supply railway transport services essential for society PSO contribution from the state budget Turning to account of exceeding assets for capitalization of newly established companies Freight tariffs deregulation Establishment of immediate privatization goals International alliances with other railway operators New companies are free of historical debts

THE NEW RAILWAY COMPANIES S N C F R DEBTS MANAGEMENT RAILWAY AUTHORITY RAILWAYS ASSET MANAGEMENT S T A E INFRASTRUCTURE CREATED 1 OCTOBER 1998 RAILWAYS MANAGEMENT SERVICES PASSEN GERS FREIGHT M A R K E T

Advantages of This Structure Protects the integrity of accounting system, cash control and banking system Minimizes the starting capital for the operating companies Eliminates duplication of the administrative functions Permits the operating companies to focus on their core functions

Autonomy of the New Railway Passenger Company To introduce and retire transport services To create joint-ventures and to buy shares in other companies Financing by the state for keeping in operation of transport section needed for social reason More railway operators allowed

Financial results 1999 2000 Income 4.657.244 6.025.700 5.542.408 CFR FREIGHT PASSENGERS 1999 Income 4.657.244 6.025.700 5.542.408 Expenses 4.648.688 5.770.427 5.538.291 Result +8.556 +255.273 +4.117 2000 Income 7.259.342 9.519.854 8.356.797 Expenses 7.251.720 9.403.919 8.345.583 Result +7.622 +115.935 +11.214

Financial results 1999 2000 Income 4.657.244 6.025.700 5.542.408 CFR FREIGHT PASSENGERS 1999 Income 4.657.244 6.025.700 5.542.408 Expenses 4.648.688 5.770.427 5.538.291 Result +8.556 +255.273 +4.117 2000 Income 7.259.342 9.519.854 8.356.797 Expenses 7.251.720 9.403.919 8.345.583 Result +7.622 +115.935 +11.214

Main assets - Passengers Company 306 electrical locomotives 5100KW 55 electrical locomotives 3400KW 245 diesel electrical locomotives 211 diesel hydraulic locomotives 4086 coaches 160 sleeping cars 15 bar and restaurant coaches

REGIONAL RAILWAY PASSENGERS COMPANIES