TRC posts losses of NT$13.79 billion in 1st year as company
Posted on 2025-02-05 08:14:14
In news from and about Taiwan this moring,
The Taiwan Railway Corporation is reporting a net loss of 13.79-billion N-T for 2024 - its first year as a state-owned company.
It's the highest loss ever for the organization dating back to its many years as a government agency.
Losses far outpaced the 7.4-billion N-T forecsast in the company's original budget and also exceeded the 12-billion N-T loss it expected for the 2024 fiscal year in December.
According to financial statements issued by the corporation, ticket sales of 17.4-billion N-T fell short of the 18.5-billion N-T forecast originally.
The company is attributing that to the impact of major earthquakes in Hualien in April of last year and other natural disasters on railway transportation and tourism.
The company also saw higher expenses than anticipated, including spending 2.3-billion N-T on employee welfare benefits for the first time and another 200-million N-T for the transfer of related assets when the company was established.
However, despite the losses, the company last year posted 4.64-billion N-T in revenue from side businesses, such as bento sales and property development - and that was an increase of 9.3-per cent from a year earlier.
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