PJSC TransContainer reports its reviewed interim condensed consolidated financial statements for the second quarter and six months ended 30 June 2016.
In the second quarter of 2016 the Company’s net income was up 2.8 times year on year to RUB 956 million compared to RUB 343 million a year earlier. For the first six months of 2016 the net income amounted to RUB 1,412 million, up 35.9% year on year.
Net income margin increased from 7.1% in the second quarter of 2015 to 17.8% for the reporting quarter. For the first six months of 2016 the net income margin was 14.2% compared to 10.5% for the first half of 2015.
The growth in the Company’s net income and net income margin was primarily driven by an increase in transportation volumes by the Company’s flatcar and container fleet, a widened range of transportation and logistics services as well as by effective cost control.
The Company’s total revenue under IFRS for the second quarter of 2016 was RUB 12, 484 million and for the first six months of 2016 amounted to RUB 23,543 million, up 26.0 and 17.7% year on year respectively. Adjusted revenue (total revenue less subcontractors’ fees under the integrated freight forwarding and logistics services) amounted to RUB 5,360 million and RUB 9,957 million respectively, posting the growth rates of 10.7% and 0.7% year on year.
The adjusted operating expenses of the Company decreased by RUB 196 million, or 2.2% year on year, to RUB 8,590 million.
For the reporting quarter the Company’s EBITDA grew by 59.5% year on year to RUB 1,885 million and for the first six months of 2016 the EBITDA grew by 13.8% year on year to RUB 3,192 million.
As of 30 June 2016 the Company’s assets amounted to RUB 50,381 million, gross debt was RUB 5,445 million, net debt (gross debt less cash, cash equivalents and short-term investments) was RUB 1,160 million, down 2.5 times as compared to the net debt as of 30 June 2015.
The Company’s financial reports under IFRS are available at.