PJSC TransContainer reports its unaudited interim condensed consolidated financial statements for the third quarter and nine months ended 30 September 2016.
For the nine month ended 30 September 2016, the Company’s net profit grew by 37.2% year-on-year to RUB 2,641 million while EBITDA increased by 13.7% year-on-year to RUB 5,298 million, In terms of margins, adjusted EBITDA margin improved from 30.8% for the nine months in 2015 to 33.8% in the reporting period, while net profit margin was up from 12.7% to 16.8%, respectively.
In the third quarter of 2016, the Company’s net profit was up 30.8% year-on-year and amounted to RUB 1,159 million. EBITDA increased by 13.5% year-on-year to RUB 2,106 million. Adjusted EBITDA margin grew from 35.2% in the third quarter of 2015 to 36.7% in the reporting quarter of 2016, while net profit margin improved from 16.8% to 20.2%, respectively.
The growth in the Company’s net income and net income margin was primarily driven by an increase in transportation volumes by the Company’s flatcar and container fleet, a widened range of transportation and logistics services as well as by effective cost control and fleet management.
The Company’s total revenue under IFRS for the third quarter of 2016 was RUB 13,357 million and for the first nine months of 2016 amounted to RUB 36,900 million, up 20.8% and 18.8% year on year respectively. Adjusted revenue (total revenue less subcontractors’ fees under the integrated freight forwarding and logistics services) amounted to RUB 5,738 million and RUB 15,695 million respectively, posting the growth rates of 9.0% and 3.6% year on year.
As of 30 September 2016 the Company’s assets amounted to RUB 55,415 million, gross debt was RUB 8,938 million, net debt (gross debt less cash, cash equivalents and short-term investments) turned to negative RUB 310 million.