JSC “TransContainer” today published its management report together with the reviewed interim condensed financial statements for the second quarter and first half ended 30 June 2014.
During the six months ended 30 June 2014, the Company’s total revenue decreased by 3.5% year on year to RUB 17,534 million. In the second quarter of 2014 the Company’s total revenue was RUB 9,074 million, down 5.5% year on year. The decrease was mainly due to a change in accounting resulted from a disposal of the 17% stake in JSC KedenTransService in December 2013.
In the first half of 2014 the Company’s EBITDA decreased by 16.4% year on year to RUB 4,108 million and the net income declined by 25.1% year on year to RUB 2,079 million. Nevertheless, in terms of profitability EBITDA margin in the first half of 2014 remained stable year on year at 40.8%, while the net profit margin lightly decreased from 23.1% in the first half of 2013 to 20.6% for the reporting period.
Company’s total assets as at 30 June 2014 were RUB 48,114 million, Company’s equity was RUB 32,173 million.
The Company’s financial results for the second quarter and first half ended 30 June 2014 reflect deterioration of the pricing environment in the rail container transportation market amid the continued slowdown in the Russian economy as well as Company’s efforts aimed at maintaining business profitability under difficult market conditions.
Consolidated IFRS accounts of JSC TransContainer for the second quarter and first half ended 30 June 2014 are available at: