TransContainer posts HI’13 net profit of RUB 2.355 bln (-12.4%)
OJSC TransContainer reported its financial results for the first six months of 2013.
The Russian market of container transportation has seen some signs of market recovery in the second quarter of 2013. Nevertheless, during the first six months of 2013 there was a continuing strengthening of competition among the operators which put additional pressure on the tariffs that were below the last year’s level in the first six months of 2013. As a result the Company’s revenues amounted to RUB 15,499 million for the first six months of 2013, which is 3,1 per cent lower than in the same period of 2012.
Net income for the reporting period amounted to RUB 2,355 million which is 12.4% lower than for the first six months on 2012.
However as a result of the steps taken by the Company to optimise costs primarily with regard to the empty run ratio, the Company’s profitability proved more stable: EBITDA margin in the first six months of 2013 remained at 44% and net profit margin was 23%.
Empty run ratio for containers decreased from 37.5% in the first six months of 2012 to 30.0% in the first six months of 2013, empty run ratio for flatcars decreased from 7.9% to 6.4% respectively.
Company’s total assets were RUB 43,587 million as of 30 June 2013. - See more at: http://www.trcont.ru/press-centre/press-releases/news-article/article/translation-needed-finansovye-rezultaty-oao-transkonteiner-3/#sthash.bFLG8063.dpuf.
TransContainer OJSC operates as a subsidiary of Russian Railways OJSC from July 2006. The company owns 46 terminals in Russia’s major freight centres, with its branches covering the entire Russian railway network. The company’s major shareholder is Russian Railways with 50% +2 shares. FESCO holds 23.7%, European Bank for Reconstruction and Development 9.25%, Transfingroup CJSC 5.1%. In 2012, container transportation by the rolling stock of TransContainer OJSC increased by 8.9% to 1.48 mln TEUs.
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