Ukrainian Railways reports Q1 loss of US$178m: what were the contributing factors?

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Ukrzaliznytsia (Ukrainian Railways) has reported a loss of about UAH 7.9 billion (US$178 million) for the first quarter of 2026 due to constant Russian attacks on infrastructure and soaring energy prices.

Source: Ukrzaliznytsia on Telegram

Quote: "Multiple enemy attacks, a reduction in transportation volumes caused by freight shippers' irregular operations and a hike in energy prices had a massive impact on Ukrzaliznytsia's financial performance in Q1 2026, but the company endured and kept going."

Details: Ukrzaliznytsia said the first quarter of 2026 was a challenge. Russian forces carried out 541 attacks on railway infrastructure and rolling stock, equivalent to half of all attacks recorded in 2025.