Blejec noted that the company was expected to finish the year with a loss of between EUR 13m and EUR 14m, which is less than the planned EUR 18m.

"We expect that we will reverse the perennial trend of losses and enable in the coming years positive operations and establish an effective system in line with the strategy," he added.

According to him, the company will undergo restructuring and reduce the number of employees. "This is the first condition for positive operations in 2013 and 2014," Blejec said, adding that more would be known after the next session on 12 January.

The new strategy focuses on optimisation of business processes, reaching positive earnings before interest and tax (EBIT), reducing debt-to-capital ratio and establishing an effective system for social protection of workers.

The supervisors also discussed the starting points for the business plan of Slovenske zeleznice and its subsidiaries for 2012 and told the management to present detailed plans at the next session in January.