TransContainer has published its unaudited condensed interim financial results under IFRS for the third quarter and nine months ended 30 September 2015.
In the third quarter of 2015 the Company improved its key financial metrics compared to the previous quarter. While in the reporting quarter revenue-generating transportation volumes remained flat at the level of 254 thousand TEU, total revenue for the third quarter of 2015 grew by 11.6% to the previous quarter’s level to RUB 11,059 million; EBITDA increased by 57.0% to RUB 1,856 million and net income more than doubled quarter to quarter and amounted to RUB 886 million from 343 million in the second quarter of 2015.
Along with seasonality, the Company’s financials in the third quarter were positively impacted by the flexible pricing policy and cost opitimisation measures: adjusted operating expenses (net of third-party charges) declined by 4.5% on the quarterly basis.
These results were achieved despite persisting challenging market conditions which nevertheless affected the Company’s financial results for the nine months of 2015. TransContainer’s total revenue for the 9 months of 2015 increased by 15.1% year on year to RUB 31,065 million while adjusted revenue (net of third-party charges) decreased by 1.7% year on year to RUB 15,153 million. For the nine months period EBITDA decreased by 27.3% year on year to RUB 4,660 million and the net income was RUB 1,925 million compared to RUB 3,301 million for the 9 months of 2014.
Under these challenging circumstances the Company continued to generate positive and growing free cash flow which increased during the reporting period by 80.3% year on year to RUB 696 million.
As at 30 September 2015 Company’s total assets were of RUB 48,003 million and the equity was RUB 35,626 million. The Company’s debt, net of cash, cash equivalents and short-term investments, decreased by 37.7% to RUB 3,032 million.