The figures for 2024 for Swedish state-owned rail operator Green Cargo do not paint a particularly positive picture. Despite a small growth in net sales, the company’s operating profits remain millions of euros in negative.
Last year, net sales at Green Cargo increased from 4,16 to 4,24 billion Swedish crowns (367,5 to 377,6 million euros). The company’s organic operating profit also increased, despite remaining in negative, from -474 to -320 million Swedish crowns. (from -42,2 to -28,5 million euros). Green Cargo’s operating profit, on the other hand, took a dip from -44 to -104 million Swedish crowns (from -3,9 to -9,2 million euros).
Giving up services and shunting
The landscape remains somewhat uncertain for 2025. At the end of last year, Green Cargo gave up two important rail freight services. The first one is the North Rail Express in Norway, linking Oslo and the port of Narvik for the transport of fish products. The second one is a service on behalf of Swedish timber company Moelven.
The company also had to give up shunting operations in eight yards in Sweden to the country’s transport administration Trafikverket. This move is meant to make shunting more accessible to other industry players in Sweden after Green Cargo was reported for not providing services to operator Hector Rail.