JSC Serbian Railways


Current value of railway assets surpasses three billion Euros

“Serbian Railways” have on their disposal real estate, plants and equipment, which, according to the evaluation, are more than three billion euros worth. The appraisal of railway assets has been carried out in compliance with International Accounting Standards, and according to the contract signed between Serbian Railways and the Center for Scientific Research of the Faculty of Economics, – said PhD Vladan Bozic, leader of this project and Professor at the Faculty of Economics.

From the total of their assets, only the railway property in Kosovo was not the subject of this appraisal, as well ad current and long-term investments (including the participation of the railways at dependent enterprises, banks and valuable papers), and the value of total turnover property of the company.

– Assets appraisal is the first step within the process of the adjustment of accounting evidence between Serbian Railways and International Accounting Standards, – explained Bozic.

Current appraised value of railway assets, plants and equipment is approximately 3 billion and 40 million Euros (about 260 billion Dinars), where 67 billion Dinars is for railway land, 165 for civil-engineering structures and approximately 28 billion Dinars for the equipment.

Such evaluation of railway assets has been carried out for the first time. The subject was a specific infrastructure enterprise, and therefore it was necessary to determine special methodology, which would provide a “fair value” of real estates, plants and equipment, and furthermore entering the railway books and balances, according to the International Accounting Standards, – said Bozic.