TransContainer boosts net profit 150% to 1.284 bln rubles in Q1
MOSCOW. April 25 (Interfax) - OJSC TransContainer's net profit increased by 150% year-on-year to 1.284 billion rubles in the first quarter of 2012, the company said on Wednesday.
The company's sales revenue increased 23.6% to 7.739 billion rubles. Sales profits increased 97.7% to 1.802 billion rubles.
"TransContainer's positive financial results were driven by growth in volumes of Company's operations, favorable market environment and measures taken by the management to enhance business efficiency. Company's container transportation volumes in the first quarter of 2012 amounted to 347 thousand TEU [twenty-foot equivalent units], up 10.7 percent year on year," the company said in a press statement.
Company assets amounted to 36.769 billion rubles as of March 31.
As of December 31, 2011, TransContainer owned and operated 59,100 heavy containers, 24,400 flatcars (representing about 60% of all those in Russia), 317 trucks, and 493 semi-trailers. The company has a network of terminals in Russia (at 46 stations) and in Slovakia. The company transported 1.362 million TEU last year and transshipped 1.577 million containers last year. The operator made 29.097 billion rubles in sales revenues and 3.481 billion rubles net profit to Russian Accounting Standards (RAS).
OJSC Russian Railways (RZD) owns 50% plus one share of the TransContainer stock, the transportation group FESCO 21.1%, the European Bank for Reconstruction and Development (EBRD) 9.25%, and CJSC Transfingroup (the trust manager of pension fund Blagosostoyanie pension reserves) 5.1%.
