PJSC TransContainer reports its financial results under Russian Accounting Standards (RAS) for the first six months of 2015. Company’s financial position was affected by accelerated decline in the Russian rail container transportation market amid the deteriorating economic environment: in the second quarter of 2015 the rail container transportation market declined by 11.0% year on year while in the first quarter transportation volumes decreased just by 4.7%.
Despite the challenging market environment, during the reporting period the Company managed to ensure business profitability, improve its market share and significantly improve the debt position.
In the first half of 2015 the total revenue of the Company increased by 13.9% year on year to RUR 19,888 million, while the adjusted revenue (total revenue less subcontractors’ fees under the integrated freight forwarding and logistics services) decreased by 0.9% to RUR 9,935 million respectively. Operating profit decreased by 50.0% to RUR 1,198 million. EBITDA contracted to RUR 2,544 million from RUR 4,091 million in the first half of 2014 while the Company’s net profit decreased to RUR 692 million from RUR 1,935 million respectively.
Company’s total assets were RUR 44,316 million as of 30 June 2015 while the total debt was RUR 5,173 million. The net debt (the total debt less cash, cash equivalents and short-term investments) was RUR 2,415 million, down 44.5% as compared to the net debt amount as of 31 December 2014.
Company’s transportation volumes during the reporting period decreased by 3.5% to 692 thousand TEU, while its market share increased to 47.8% from 45.6% in the first half of 2014.
TransContainer’s financial accounts for the first half of 2015 under Russian Аccounting Standards are available at