Revenue of FESCO Transportation Group (MOEX: FESH) for nine-month period ended September 30, 2014 (under IFRS) totaled $844.1 or a 0.6% gain year-on-year, the Group reports.
EBITDA for the reporting period shrank by 19.1% YoY to $123.3 million. Capital expenditures of the Group soared 49.4% to $59.9 million.
FESCO's shipping division demonstrated strong results due to replacement of old vessels with new more efficient ones, as well as positive results of icebreakers operations, profitable contracts with third parties and decreased administrative costs. Revenue jumped 33.6% to $57.8 million.
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.