The state-owned train company SJ had a difficult fourth quarter due to the Covid-19 pandemic and also ended the full year with a loss. As a consequence, the board of directors proposes that no dividend be paid for 2020.
SJ's net sales totaled SEK 1,388 million in the fourth quarter of 2020, which was a decrease from SEK 2,308 million in the same quarter of 2019. Operating profit ended up at minus SEK 850 million, which can be compared with plus SEK 186 million in the fourth quarter of 2019.
”"As far as possible, we have adapted our variable costs to our smaller revenue budget, while our long-term plans for investment in new and upgraded trains remain in place and are necessary to secure our competitiveness for the future," says Monica Lingegård, CEO of SJ, in a press release.
For the full year 2020, SJ's profit after tax amounted to minus SEK 1,491 million, which was a fall from plus SEK 619 million in 2019. As a consequence, SJ's board of directors is not proposing any dividend for the 2020 financial year. For 2019, SJ distributed SEK 186 million.
Source: di.se
