Financial Results for the First Quarter of 2013 under Russian Accounting Standards
OJSC TransContainer reported its financial results for the first quarter of 2013. The financial results are largerly affected by the unfavourable market environment on the Russian container transportation sector in January-February 2013 on the back of high base of the first quarter of 2012. Since March 2013, the Company has seen some signs of market recovery though.
The Company’s revenues amounted to RUB 7,356 million in the first quarter of 2013, which is 5,0 per cent lower than in the same period of 2012. Revenues net of cost of integrated freight forwarding and logistics services decreased by 14.9 percent to RUB 4,848.
In the unfavourable market environment the Company took several measures aimed at improving operational efficiency, primarily with regard to the optimisation of empty runs: empty run ratio for containers decreased from 39% in the first quarter of 2012 to 29% in the first quarter of 2013, empty run ratio for flatcars decreased from 8.1% to 6.1% respectively.
As a result, there was a 17.6% decrease in EBITDA in the first quarter of 2013 to RUR 2 billion, net profit decreased by 23.6% to RUR 981 million. However the Company’s profitability proved more stable: EBITDA margin in the first quarter of 2013 was 41.9% as compared to 43.6% in the first quarter of 2012 and net profit margin was 20.2% as compared to 22.4% respectively.
Company’s total assets were RUB 41,845 million as of 31 March 2013.
Please refer to http://www.trcont.com/en/investor-relations/reporting/financial-reports-under-ifrs/ for TransContainer’s financial accounts for the first quarter of 2013 under Russian Accounting Standards.