PJSC “TransContainer” has publishes its audited consolidated financial statements prepared in accordance with the International Financial Reporting Standards (“IFRS”) for the full year of 2017.
In the reporting year, the Company’s net profit has more than doubled year-on-year and reached the historical record high of RUB 6,534 million, comparing with RUB 3,244 million in 2016.
The net profit margin grew from 14.8% in 2016 to 23.5% in 2017, respectively.
The Company’s total revenue for the full year of 2017 amounted to RUB 65,567 million, up 27.4% on year on year. Adjusted revenue (net of subcontractors’ charges) grew by 26.4% year on year to RUB 27,782 million respectively at the back of an increase in profit-making transportation volumes by the Company’s flatcar and container fleet by 19.5%. The adjusted operating expenses (net of subcontractors’ charges) grew by 9.9 % to RUB 20,653 million. The EBITDA increased by 61.6% year-on-year to the historical record of RUB 11,474 million, the adjusted EBITDA margin improved to 41.3% from 32.3% in 2016.
The favorable market environment as well as an implementation of the Company’s strategy aimed at the improving competitiveness and operational efficiency resulted in the record high financial results in the Company’s history. In the reporting period the Company worked on the increasing of the profit-making transportation volumes, improved the quality transportation services and operational efficiency, mainly focused on the improvement of flat cars and containers fleet management, reducing the empty runs and optimisation of the business processes, particularly at the Company’s terminals.
As of 31 December 2017 the Company’s assets amounted to RUB 55,739 million, gross debt was RUB 6,412 million, net debt (gross debt less cash, cash equivalents and short-term investments) amounted to RUB 2,241 million. The net debt decreased on RUB 1,293 million or 36.6% compared with the 31 December 2016.