Net profit of TransContainer down 6% to RUB 4.52 bln in 2013
In 2013, the Russian rail container transportation market grew by 5.2 per cent year on year being one of the most sustainable segments of the rail freight transportation market in Russia, press center of TransContainer says. However the tightening competitive environment put the transportation tariffs under pressure which led to the moderate tariff decline as compared to the previous year.
The Company’s revenues amounted to RUB 33,173 million in 2013, remaining unchanged compared to the previous year when the Company generated RUB 33,187 million of revenue.
Net income for the reporting period amounted to RUB 4,528 which is 6.0 per cent lower than for the full year 2012.
Under challenging market environment the Company concentrated on optimising the costs and maintaining profitability. In particular, the Company achieved considerable results in reducing the empty runs ratio: in 2013 empty run ratio for containers decreased from 35.9 per cent to 30.5 per cent and empty run for flatcars decreased from 7.5 per cent to 6.7 per cent.
As a result, adjusted EBITDA margin for the full year 2013 increased to 41 per cent from 40 per cent in 2012 and adjusted net profit margin grew from 20 per cent in 2012 to 21 per cent in 2013.
Company’s total assets were RUB 43,594 million as of 31 December 2013, up by 5.8 per cent year on year.
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%.
