29 Feb 2012 12:45

RZD sees net profit to IFRS down 29% in H1 2011

MOSCOW. Feb 29 (Interfax) - OJSC Russian Railways (RZD) posted net profit to International Financial Reporting Standards (IFRS) of 67 billion rubles in the first half of 2011, or 29% less than in the first half of 2010, the company said in a statement.

Meanwhile, revenue was up 9% at 691 billion rubles.

Earnings before taxes, depreciation and amortization (EBITDA) fell 20% to 165 billion rubles in H1 2011, and the EBITDA margin was at 24%.

In 2010, RZD's net profit to IFRS soared 75% to 208.3 billion rubles. Its revenue grew 18% to 1.334 trillion rubles, EBITDA rose 30% to 443.62 billion rubles, and the EBITDA margin stood at 33% (30% in 2009). RZD's operating profit jumped 75% to 198.87 billion rubles in 2010.