Net profit declined by 23% from €18.7m in 2013 to €14.4m, although this compares with a loss of €19.8m in 2010 and €15.4m in 2011. Ebit rose by nearly 10% in 2014 to €23.9m while Ebitda increased 3% to €58.9m.

Operating income increased by 10% and was buoyed by rising freight volumes, which rose 6% year-on-year to 18.8 million tonnes.

With further growth in freight volumes forecast and additional measures to streamline its operations, SZ says it expects to achieve even greater growth in revenues and business volume this year.