TransContainer sees RAS net profit fall 50% in 9M to 1.477 bln rubles
MOSCOW. Oct 22 (Interfax) - The net profit of PJSC TransContainer to Russian Accounting Standards (RAS) was 1.477 billion rubles in January-September 2015, which is 50% lower than a year earlier, the company said in a statement.
The company's revenue rose 15.1% to 30.894 billion rubles. Operating profit fell 42% to 2.143 billion rubles. Earnings before interest, taxes, depreciation and amortization (EBITDA) in the reporting period fell 32% to 4.31 billion rubles.
"The company's financial position was affected by continued decline in the Russian rail container transportation market amid the deteriorating economic environment: in the third quarter of 2015 the rail container transportation market declined by 10.8% year-on-year after a drop by 11.0% in the second quarter of 2015," the press release said.
As at September 30, 2015, net debt (less cash, cash equivalents and short-term investments) was 2.656 billion rubles, which is 38% lower than the same figure at the end of 2014.
The net debt/EBITDA ratio for the 9M 2015 was 0.6.
"Company's transportation volumes during the reporting period decreased by 5.3% to 1.035 million TEU, while its market share increased to 47.3% from 45.5% for the corresponding period of 2014," the company said.
