FESCO Group posts 4.8% revenue decline in 9M2013
Consolidated revenue of Russian Transportation Group FESCO for the nine-month period ended September 30, 2013 totaled $849.6 million, or 4.8% down from the same period a year earlier, the Group's financial and performance report showed.
FESCO's consolidated EBITDA fell 13.3% y-o-y to $152.4m on the back of the challenging rail market environment in 2013. The Group’s EBITDA margin decreased by 1.8 pt to 17.9%.
At the same time FESCO's port division's EBITDA for the same period rose 11.0% y-o-y driven by growing volumes of container cargo handling.
The nine-month volume of import containers grew 9.1% to 152,600 TEUs, export container cargo throughput climbed 1.5% to 118,500 TEUs, while short sea container traffic shrank by 4.8% to 78,300 TEUs.
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 and the Group benefits from growing trade volumes between Russia and Asian countries. FESCO controls the Commercial Port of Vladivostok, which has throughput capacity of 3.9 million tons for general cargo and oil products, 150,000 vehicles and over 600,000 TEUs in containers. FESCO is one of Russia’s top 10 private railcar operators providing services under the Transgarant (100%) and Russkaya Troika (50% JV with Russian Railways) brands. The Group owns a fleet of vessels mostly deployed through own line and logistics operations. In 2012, revenue of FESCO Group reached USD 1,197 million.