STLC investments in Russia’s transport industry exceed half a trillion of rubles

Investments of PAO STLC in Russia’s transport industry between 2009 and 2018 exceeded RUB 535 billion. STLC says those investments contributed to the development of leasing in the segments of air, water, railway and energy efficient transport as well as highway and municipal engineering and transport infrastructure projects.

In the reporting period, leasing backlog of STLC grew from RUB 1.7 billion to RUB 692.5 billion with the amount of annual allocations for transport industry having grown from RUB 1 billion to RUB 157 billion.

STLC is currently implementing a number of noncommercial leasing programmes and projects partially sponsored by the government. In particular, RUB 8.2 billion has been invested into the programme for the development of energy efficient transport leasing, RUB 72 billion – for operational leasing of SSJ100 airplanes, RUB 15.5 billion – for leasing of helicopters, RUB 3 billion – for leasing of Л-410 airplanes, RUB 10 billion – for construction of ro-ro ferries to be operated at Vanino-Kholmsk line.

With the growth of it financial performance under Russian accounting standards the company will be able to pay dividends for 2017 in the amount of RUB 107.7 million. 

In 207 STLC improved its productivity of labor over 4-fold vs 2012 to almost RUB 1.9 billion per employee.

According to the statement, the company’s operating expenses decreased by 20.1% vs 2016.

“Investments exceeding half a trillion of rubles is a milestone for our company. STLC is becoming even more significant instrument of state support to the development of Russia’s transport industry and domestic transport engineering”, said Sergey Khramagin, Director General of PAO STLC.

The State Transport Leasing Company (GTLK) is Russia’s largest player in the lease market. It leases out aircraft, vessels, rail transport, road vehicles and special equipment to domestic transport enterprises and invests in the development of Russia's transport infrastructure. The company's sole shareholder is the Russian Federation represented by the Ministry of Transport. GTLK holds double-B ratings from the world’s three leading international rating agencies and an A+(RU) national rating from ACRA. As of 31 December 2017, GTLK's IFRS assets exceeded RUB 340 billion.