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Martin Dvořák Resigns from the Office of DPP's CEO and Chairman of the Board of Directors

Prague, 1st December 2011 – The CEO of Dopravní podnik hl. m. Prahy (Prague Transport Company – DPP), Martin Dvořák, informed today the mayor of the Capital City of Prague, Mr. Bohuslav Svoboda, about his resignation from the office of the CEO and chairman of the board of directors of DPP. He will resign as of 5th December 2011.

 

“I believe that I can say after five years that we have got exceptionally good results in the field of operation and what we had agreed historically with the city management has been fulfilled. The primary reason for my resignation is to avoid any threat to the transport company by various speculations,” says Martin Dvořák and adds: “After five year, I really believe that if I am to manage such large and important company, I need political support and I do not currently feel that I have such full support.”

Company's results in 2007 – 2010

Martin Dvořák assumed the CEO's office of Dopravní podnik hl. m. Prahy in 2007. After his arrival, he initiated the transformation of the company, which resulted in a reduction of its operating costs, downsizing the number of employees and particularly in a substantial reduction of the company's financial burden on the capital city's budget.

Under his leadership, the company generated in 2010 a profit of 1.354 billion CZK. In 2007, DPP had a loss of 1.834 billion CZK. The result of operations for the first three quarters of this year is 957 million CZK. In the period of 2007 – 2010, the volume of DPP's transport performance expressed in site kilometres by 7.3 % (from 19.4 billion of site kilometres in 2007 to 20.8 billion of site kilometres in 2010).

The five years of Martin Dvořák's tenure witnessed a signification reduction of the compensation received from Prague City Hall's budget. While it amounted in 2007 to 15.2 billion CZK, its amount reached in 2010 12.7 billion CZK. In 2010, DPP covered from its own sources (particularly depreciation and adequate profit) more than 80% of its total capital expenditures.

The number of passengers transported by DPP has been increasing regularly by an average 0.9% a year. In 2010, the number of passengers transported by DPP was by 2.6% higher than in 2007 (an increase from 1,193 million of passengers transported in 2007 to 1,224 million in 2010).

The total operating expenses of the company fell in 2007 - 2010 by 1.4% (from 15,188 million CZK in 2007 to 14,973 million CZK in 2010). The company succeeded in reducing its expenses despite the current significant increase of the prices of energies and other inputs (by more than 10%). The number of employees was reduced in the same period by 12.4% to 10,763 (as of 31th October 2011).

 

Ilona Vysoudilová
Head of the Press Department and Press Spokesperson for Prague Public Transport,
email: tiskoveoddeleni@dpp.cz

 

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