PJSC TransContainer reports its Financial Results under IFRS for the 1st quarter of 2016
PJSC TransContainer today published its interim condensed financial statements for the three months ended 31 March 2016. The financial statements have been prepared in accordance with the International Financial Reporting Standards (“IFRS”).
During the first three months of 2016, the Company’s total revenue increased by 9.5% year on year to RUB 11,059 million while the adjusted revenue decreased by 8.9% to RUB 4,597 million on the back of a 9.5% year-on-year decline in flatcars under operation.
The Company managed to improve cost control program which resulted in the reduction of operational cost by RUB 163 million or by 3.9% year-on-year.
Amid the challenging economic environment, the Company’s EBITDA decreased to RUB 1,307 million from RUB 1,622 million in the corresponding period of 2015. The net income declined to RUB 447 million from RUB 756 million in the corresponding period of 2015.
In spite of declining financial results, the Company’s free cash flow was positive and amounted to RUB 759 million.
Company’s total assets as at 31 March 2016 were RUB 49,150 million, Company’s equity was RUB 36,362 million, net debt was RUB 2,703 million