TransContainer expects net profit to go up 40% in 2012, dividends to reach 1.2 bln rubles
MOSCOW. Dec 20 (Interfax) - OJSC TransContainer expected its net profit according to Russian accounting standards (RAS) to increase this year by 40% to 4.8 billion rubles, a source informed about the company's plans told Interfax.
The expected dividend payout with this profit could come to 1.2 billion rubles, 25% of RAS net profit (in November the railway operator's board of directors approved the 2013 budget under this result, prior to this the Russian government requested that companies with state ownership earmark at least 25% of net profit for dividends).
The company's net profit last year totaled 3.481 billion rubles.
At the same time, the company expects transport to increase by 10% this year to around 1.5 million TEU. The company's margin should move up from 37.2% to above 40%.
TransContainer owns and operates 59,000 heavy containers and more than 24,400 flatcars (representing about 60% of all those in Russia), and has a network of terminals in Russia (at 46 stations) and in Slovakia. OJSC Russian Railways (RZD) owns 50% plus one share in TransContainer, the FESCO transport group 23.7%, the European Bank for Reconstruction and Development (EBRD) 9.25%, and CJSC Transfingroup, the trustee of pension fund Blagosostoyanie's pension reserves, 5.1%.
TransContainer's January-September net profits to Russian Accounting Standards (RAS) were up 64.4% year-on-year at 4.277 billion rubles, sales revenues 19.3% at 24.97 billion rubles, and sales profits 49.5% at 5.987 billion rubles. In 2011, the company's IFRS net profits amounted to 3.843 billion rubles, sales revenues to 30.876 billion rubles, and EBITDA to 8.448 billion rubles. The company hauled 13.3% more containers last year - 1.362 million TEU (twenty-foot equivalent units), and container-handling at terminals in Russia increased 4.8% to 1.577 TEU.
