TransContainer more than doubles RAS net profit in H1
MOSCOW. July 24 (Interfax) - TransContainer more than doubled its net profit to Russian Accounting Standards year-on-year to 2.751 billion rubles in the first half of 2017, the rail freight operator reported.
The increase in net profit was driven by the growth of shipments by the company's freight car and container fleet, and measures to increase the operating efficiency of the business, TransContainer said in a press release.
Net profit in H1 2017 was higher than for the same period in 2016. Net profit margin grew to 22.3% from 13.9% a year earlier.
Revenue grew 30.1% to 30.450 billion rubles. Adjusted revenue net of subcontractor charges grew 29.2% to 12.362 billion rubles. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 65.8% to 5.180 billion rubles. EBITDA margin grew from 32.7% to 41.9%. The company's finances have significantly improved "on the back of growth in revenue-generating transportation volumes by 23%," the company said in a statement.
The operator's debt as of June 30, 2017 totaled 7.716 billion rubles. Net debt after calculating assets and short-term financial investments totaled 1.680 billion rubles, down 60% compared to the start of 2017. Assets stood at 52.408 billion rubles.