BUDAPEST: Hungarian state owned railway company MAVʼs consolidated revenue rose to HUF 140 billion last year, up from the HUF 135 billion reported in 2013, CFO Erzsébet Szikszay Bandofai said yesterday, according to Hungarian news agency MTI.
The state took over a portion of MAVʼs debt, reducing the consolidated stock to HUF 152 billion at year-end, Szikszay Bandonfai said. MAV assumed the management of HUF 217 billion in assets from the National Infrastructure Company in 2014, bringing the total Treasury assets it manages to HUF 720 billion.
Last year, MAV spent HUF 9.6 billion on upkeep and HUF 37.8 billionon refurbishments from its own resources, according to deputy-CEO Lászlo Pál. Expenditures on safety developments and station renovations were made possible with funding from the European Union, he added.
