State-owned railway infrastructure company Estonian Railways, which operates the Elron brand, saw its business revenue drop 10.6 percent to €35.4 million and net loss total €4.2 million in 2016, compared to its €1.6 million net profit the year before.
The primary factor behind the decline was a decrease of 16.1 percent in the revenue of targeted financing to €23.2 million.
The company's sales increased 3.4 percent to €12.2 million. Last year, the company registered 6.8 million boardings, representing a 3.6 percent increase over 2015, it can be seen from the company's annual report.
Last year's results were greatly impacted by railway renovation work and the renovation period extending by a month.
The state-owned Elron, or Eesti Liinirongid AS, became the operator of all subsidized domestic train services in Estonia from the start of 2014. The company has 322 employees.
Editor: Aili Vahtla