Romanian state-owned rail freight operator CFR Marfă reported a higher market share and continued revenue growth in 2023-2024 despite a declining rail transport market.

The company’s turnover rose by 34% in 2022 compared to 2021 and increased by a further 12.9% in 2023, CFR Marfă announced in a statement to Agerpres on Friday. Growth continued into the first half of 2024, with revenues remaining stable in the second half.

CFR Marfă’s market share has fluctuated in recent years, dropping from 21.56% in 2020 to 19.55% in 2021 before rising significantly to 31.2% in 2023. In the first nine months of 2024, it stood at 28.2%, according to the latest company data.

Between 2022 and 2024, the company maintained a positive EBITDA (earnings before interest, taxes, depreciation, and amortization), reporting RON 134mn in 2022, RON 110mn in 2023, and RON 6.8mn in 2024.

“CFR Marfă operates a fair business model, strictly adhering to anti-dumping regulations. Our strategy is to achieve profitability through competitive transport tariffs that ensure financial sustainability, as evidenced by our consistent economic performance over the past three years,” the company stated.

Holding a 30% market share, CFR Marfă is Romania’s second-largest rail freight operator, serving key industrial sectors including mining, oil, machinery, and agriculture. The company has ensured timely payments to suppliers—including railway infrastructure operator CFR SA and SC Electrificare CFR SA—and continues to meet salary obligations and its historical debt repayment schedule, according to the statement.

(Photo: George Calin/ Inquam Photos)

iulian@romania-insider.com