Seeking growth in international markets
In international operations, VR Track's subsidiary VR Track Sweden AB strengthened its position in the Swedish track maintenance market.
Profitability improved compared with 2013 and new contracts also boosted turnover considerably and allowed the company to recruit a good number of new employees. During the year, VR Track Sweden AB started the maintenance of the important Södra Stambanan main line between Arlöv and Nässjö in Southern Sweden.
Demand in Sweden is expected to remain strong in both track construction and track maintenance.
VR Track Estonia AS concentrated on subcontracting in Lithuania as part of the construction of Rail Baltica. The company leased machine services and capacity as well as project management services for the work.
Rail Baltica is the biggest transport project in the European Union. The project envisages the construction of a high-speed rail line of 1,200 kilometres between Tallinn and Warsaw. The project should be completed by 2020. It is expected that the project will have a positive impact on the demand for track construction services in the Baltic region.