Rigas Satiksme losses at €4.608 million in first quarter

Riga municipal public transport company Rigas Satiksme posted €38.845 million in turnover in January-March, a 2.9% increase on the first quarter of 2017, while the company's losses rose 16.8% to €4.608 million, the company announced today.

Rigas Satiksme's financial report says that revenue from public transport services made up 27% of the company's net turnover in the first quarter, revenue from parking lots accounted for 9%, and financing from the state and Riga City Council for covering the company's losses - for 64%.

Rigas Satiksme's operating costs amounted to €42.2 million in the first quarter, €2.6 million more than in the first quarter of 2017.

A total of 34.742 million passengers used Rigas Satiksme's services in January-March, 3% fewer than in the first quarter of 2017. At the end of March, Rigas Satiksme had a total of 6,430 parking lots in the city (up from 5,989 parking lots at the end of 2017).

In the first quarter of 2017, Rigas Satiksme posted €37.765 million in turnover and €3.945 million in losses. 

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