OJSC TransContainer reported its financial results under Russian Accounting Standards for the first six months of 2014
For the first six months ended on 30 June 2014 the total revenue of the Company increased by 12.6% to RUR 17,455 million, while the adjusted revenue (total revenue less subcontractors’ fees under the integrated freight forwarding and logistics services) decreased by 2.9% to RUR 10,023 million. Operating profit decreased by 18.0% to RUR 2,396 million and EBITDA declined by 10.0% to RUR 4,091 million compared to the same period of 2013. The Company’s net profit amounted to RUR 1,935 million, representing a 17.8% decrease compared to the 1st half of 2013.
Company’s total assets were RUR 45,049 million as of 30 June 2014, total debt was RUR 6,681 million, 10.2% down as compared to 31 December 2013.
The Company’s financial results were negatively affected by the unfavorable pricing environment in the Russian rail transportation market. Company’s transportation volumes during the reporting period grew by 2.2% to 717 thousand TEU.
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%. In 2013, container transportation by the rolling stock of TransContainer OJSC declined by 2% to 1.45 mln TEUs.