PJSC TransContainer, the leading intermodal container transportation company in Russia, has released its financial report for 12 months of 2018 in accordandance with the Russian Accounting Standards (RAS).
For the reporting period the Company’s results show its efficiency and sustainability: net income increased by 63.9% year on year and amounted to RUB 8,900 million. Net income margin improved from 20.5% for 2017 to 29.0% for the reporting period.
The Company’s revenue for 2018 under RAS was RUB 75,944 million, up 16.5% year on year. Adjusted revenue (revenue net of subcontractors’ charges) was up 16.1% year on year and amounted to RUB 30,720 million on the back of a growth in revenue-generating transportation volumes by 8.4%.
Company’s adjusted operating expenses (expenses net of subcontractors’ charges) grew by 5.8% year on year to RUB 20,104 million.
The Company’s financial results in 2018 were positively impacted by an increase in transportation volumes on the back of favourable market situation, by an improvement in fleet turnover and empty runs optimisation, as well as by measures on cost control taken by the new Company’s management.
As of 31 December 2018 the Company’s assets were RUB 63,384 million, total debt was RUB 11,326 million and the net debt was RUB 2,337 million.