Israel Railways 2012 revenue NIS 1.58b

Revenue rose 16% as passenger numbers grew 12% to 40 million.

Israel Railways today announced that it posted NIS 1.58 billion revenue in 2012, 16% more than in 2011.

In the report, entitled "2012 - a breakthrough year for Israel Railways", the company presented a very optimistic summary of its activity, saying that it reported "impressive growth in all operational measures." The company attributes the growth to several key factors, including administrative focus, continuation of the development plan (investment totaled NIS 3.3 billion in 2012, 11% more than in 2011), and the addition of passenger cars and 21,000 seats in the past two years.

Israel Railways says that, after three years of stagnation, the number of passengers carried exceeded 40 million for the first time in 2012, an increase of 4.44 million passengers (12%) over 2011. 400 trains are operated daily, and the number will increase to 460 a day by the end of 2013.

Israel Railways says that it paid special attention to improved service during 2012, including an improvement in on-time arrivals by trains: 90% of trains were on time, 4% more than in 2011. Special emphasis was placed on on-time arrivals during the morning and afternoon, which are now close to the full-day average.

Israel Railways did not disclose full-year figures, including on the large number of breakdowns and delays caused by faulty maintenance of trains or technical breakdowns on one hand, or by external factors, such as bad weather or people jumping on to the tracks.

Israel Railways says that it made progress on several major administrative and managerial changes "to better prepare for Israel Railways' future missions and to gradually improve its performance." It mentioned the agreement signed with the workers committee and the Histadrut (General Federation of Labor in Israel) on restructuring the company, including outsourcing track and rolling stock maintenance, and establishing cargo and real estate subsidiaries.

Published by Globes [online], Israel business news - - on February 11, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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