PJSC TransContainer today published its interim condensed financial statements under the International Financial Reporting Standards (IFRS) together with the management report for the third quarter and nine months ended 30 September 2014.
During the nine months of 2014, the Company’s total revenue decreased by 6.3% year on year to RUB 26,984 million. In the third quarter of 2014 the Company’s total revenue was RUB 9,450 million, down 11.1% year on year.
In the first nine months of 2014 the Company’s EBITDA decreased by 18.2% year on year to RUB 6,409 million and the net income declined by 29.3% to RUB 3,301 million from RUB 4,666 million for the similar period of 2013.
The Company’s financial results for the third quarter and nine months ended 30 September 2014 reflect sustained unfavourable pricing environment in the rail container transportation market amid the continued slowdown in the Russian economy. The results were also affected by the change in the accounting for JSC KedenTransService results occurred in the fourth quarter of 2013.
Amid the tough market environment Company made an effort to maintain the profitability of business: Company’s adjusted EBITDA margin in the nine months of 2014 remained flat year on year at 41.6%, while the adjusted net profit margin remained above 20% level at 21.4% for the reporting period.
Company’s total assets as at 30 September 2014 were RUB 47,768 million, Company’s equity was RUB 33,778 million.
Consolidated IFRS accounts of PJSC TransContainer for the third quarter and nine months ended 30 September 2014 are available at: