TransContainer’s net income up 92.4%, y-o-y, to RUB 1.331 mln in HI’2016
PJSC TransContainer reports its Financial Results under Russian Accounting Standards (RAS) for the first six months of 2016.
In the first half of 2016 the Company’s net income increased by 92.4% year on year to RUB 1,331 million. The net income margin grew from 7.0% in the first half of 2015 to 13.3% for the reporting period. The net income growth was impacted by an increase in transportation volumes by the Company’s flatcar and container fleet, by widened range of rail transportation services and by cost control.
The Company’s total revenue under RAS for the first six months of 2016 amounted to RUB 23,404 million, up 17.7% year on year. Adjusted revenue (total revenue less subcontractors’ fees under the integrated freight forwarding and logistics services) increased by 1.0% year on year to RUB 10,029 million. The adjusted operating expenses of the Company decreased by RUB 259 million, or 3.0% year on year, to RUB 8,477 million. For the first six months of 2016 the Company’s EBITDA grew by 22.8% from RUB 2,544 million in the first half of 2015 to RUB 3,124 million for the reporting period.
As of 30 June 2016 the Company’s assets amounted to RUB 46,554 million, gross debt was RUB 5,175 million, net debt (gross debt less cash, cash equivalents and short-term investments) was RUB 1,186 million, down 2.85 times as compared to the net debt as of 31 December 2015.
