FESCO’s 7M’16 revenue down 31% to $303.8 mln
FESCO says its revenue in January-July 2016 fell by 31%, year-on-year, to $303.8 mln. The company’s revenue excluding the bunkering division dropped by 18.3% to $300.3 mln.
EBITDA fell by 32.2% to $47 mln. EBITDA margin declined by 2 percent points to 15.5%.
In the 7-month period, bunker sales plunged almost 5 times to 65,500 t including 7,100 t of bunker sold in July.
About FESCO
FESCO is one of the leading privately-owned transportation and logistics companies in Russia with operations in ports, rail, integrated logistics and shipping business. Diversified but integrated asset portfolio enables FESCO to provide door-to-door logistics solutions and control almost all steps of the intermodal transportation value chain. The majority of FESCO’s operations are located in the Russian Far East. FESCO is one of the leaders of container transportation through the Russian Far East via international sea container lines to/from Asian countries, domestic sea container lines and by rail. FESCO is one the leading port container operators in the Far East region. FESCO controls the Commercial Port of Vladivostok which has throughput capacity of 3.9 million tons of general cargo and oil products, 150,000 vehicles and over 600 thousand TEU of containers. In 2015, total container throughput at the Commercial Port of Vladivostok amounted to 345 thousand TEU. FESCO is one of the major Russian private rail operators with fleet of 3.5 thousand container platforms. FESCO has a fleet of 19 vessels, mostly deployed through own sea service lines, and 4 icebreakers leased under longterm contracts. In addition, the Group has a 50% interest in JSC Russkaya Troyka and a 24.1% interest in PJSC TransContainer.
