Finland's state-owned rail firm VR has reported a near-doubling of profits during April-June this year compared to the same period last year.
The improved performance was driven by an increase in passenger numbers following what the company termed a "difficult first quarter" — marred by political strikes and damage to tracks.
"The popularity of rail travel grew to record levels in 2023. Business and leisure travel on weekdays grew, and the number of journeys in long-distance traffic is expected to grow further during 2024," VR's press release said.
The statement added that the firm's comparable operating result, before interest and taxes, for Q2 was just under 35 million euros. As well as being an improvement on last year's Q2 figures, the amount was significantly up on the 15.7 million euros profit VR reported for January-March this year.
Overall turnover increased during the reporting period, by 8 percent to about 340 million euros.
"The increase was due to a higher number of journeys, new agreements in city traffic, and the completion of the acquisition of long-distance train operations in Sweden," VR CEO Elisa Markula noted, referring to the acquisition of Swedish rail operator MTR Express.
The press release further added that the company expects the comparable operating result for 2024 to improve compared to 2023.
Finland's government is considering the option of selling a minority stake in VR, which is currently fully state-owned, but a company spokesperson told Yle that no interest has yet been expressed.
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