OJSC TransContainer has reported its financial results under Russian Accounting Standards for the nine months of 2014. For the first nine months ended on 30 October 2014 the total revenue of the Company increased by 9.9% to RUR 26,843 million, while the adjusted revenue (total revenue less subcontractors’ fees under the integrated freight forwarding and logistics services) decreased by 4.9% to RUR 15,391 million. Operating profit decreased by 23.8% to RUR 3,673 million and EBITDA declined by 12.6% to RUR 6,320 million compared to the same period of 2013. The Company’s net profit amounted to RUR 3,052 million, representing a 20.8% decrease compared to the corresponding period of 2013.
Company’s total assets were RUR 44,256 million as of 30 October 2014, total debt was RUR 6,611 million, 11.1% 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 1.8% to 1 093 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. With almost 60,000 ISO containers and over 25,000 flatcars, the company manages its fleet on more than 300,000 routes in Russia and abroad, providing a wide range of reliable and tailored container services. Additionally, TransContainer owns a network of rail-side container terminals located at 46 railway stations in Russia and operates one terminal in Slovakia. Through the joint venture with Kazakhstan Railways, TransContainer also operates 18 freight terminals in Kazakhstan, including the Dostyk border crossing with China. 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.