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20 Jan 2011

2010 Operating Results

TransContainer" announces its preliminary operating results for the fourth quarter of 2010 and for the full year 2010.

RNS Number : 7620Z
OJSC Transcontainer
20 January 2011
 

TRANSCONTAINER OPERATING RESULTS
FOR THE FOURTH QUARTER OF 2010 AND THE FULL YEAR 2010
 
Open Joint Stock Company "TransContainer" ("TransContainer" or the "Company") (LSE:TRCN) announces its preliminary  operating results for the fourth quarter of 2010 and for the full year 2010.
 
The results show a continuing improvement in key operational metrics, reflecting both the overall market recovery and the Company's focus on restoring profitability.
 
Rail Transportation equipment for shipping cargo via various means of transport. Containers are durable enough for repeated use and can be stacked. Containers are divided into medium-duty (three- and five-tonne), which conform to former Soviet Union standards and are still used for shipments in Russia and the CIS, and ISO (20- and 40-foot) containers, which are used for Russian and international shipments. The universal standard unit TEU (twenty-foot equivalent unit) was introduced to measure transport flow volumes.
container
transportation volumes
 
The Company's rail container transportation volumes for the fourth quarter of 2010 increased by 23.1% to 333 thousand twenty-foot equivalent units ("TEU") compared to the fourth quarter of 2009, mainly due to an increase in Import-bound container traffic, as indicated in the respective waybill.
import transportation
by 32 thousand TEU, or 132.7%, to 56 thousand TEU.
 
Domestic transportation for the same period increased by 6.6% to 197 thousand TEU compared to the fourth quarter of 2009.
 
Transportation of containers by TransContainer's fleet in 4Q 2010 (ISO Loaded + Empty), 000' TEU
 
 4q 2009 4q 2010       Change
   000' TEU %
Domestic Routes 185 197 12 6.6%
Export 56 72 16 29.0%
Import 24 56 32 132.7%
Freight passing from one country to another through a third country. Whether cargo is permitted to transit a certain country and under what terms is subject to trade agreements and treaties between countries. Direct transit is when foreign goods are shipped under tariff protection, without holding at a customs warehouse; indirect transit is when goods arrive at customs warehouses and are then transported abroad.
Transit
 5 8 3 44.3%
All Routes 270 333 63 23.1%
 
Rail container transportation volumes for the full year 2010 increased by 9.5% to 1,202 thousand TEU compared to the year ended December 31, 2009, mainly due to an increase in import transportation by 94 thousand TEU, or 98.6%, to 190 thousand TEU.
Domestic transportation in 2010 declined by 3.6% to 719 thousand TEU compared to the previous year, reflecting a shift in Company's policy in the first half of 2010 aimed at focusing on more profitable routes, in line with its efficiency improvement policy.
Transportation of containers by TransContainer's fleet in 2010 (ISO Loaded + Empty), 000' TEU
 2009 2010       Change
   000' TEU %
Domestic Routes 746 719 (27) (3.6)%
Export 237 264 27 11.3%
Import 96 190 94 98.6%
Transit 19 29 10 52.3%
All Routes 1,098 1,202 104 9.5%
 
As a result of the above, in 2010 import transportation represented 15.8% of TransContainer's transportation volumes compared to 8.7% one year ago, while the share of domestic transportation decreased from 67.9% in 2009 to 59.8% in 2010.
 
Terminal handling
 
Throughput of the Company's rail A place equipped for the trans-shipment and storage of containers. A container terminal
typically includes one or more container yards. Rail-based container terminals are equipped with spur tracks for loading and unloading containers to/from railroad platforms (cars).
container terminal
network for the fourth quarter of 2010 amounted to 433 thousand TEU, an increase of 48 thousand TEU, or 12.5%, compared to 385 thousand TEU in the fourth quarter of 2009.
 
For the full year 2010, the Company's terminal-handling volumes amounted to 1,599 thousand TEU, representing an increase of 139 thousand TEU, or 9.5%, compared to 2009.
 
Asset utilisation
 
The Company's key asset utilisation metrics showed significant improvement in the fourth quarter of 2010 and for the full year 2010:
 
 4q 2009 4q 2010 2009 2010
Turnover of containers, days 30.9 21.3 27.7 21.8
Turnover of flatcars, days 14.9 13.4 15.7 14.2
    
For containers - transporting an empty container on a flatcar, for flatcars – a flatcar run without container(s) or any non-container cargo.
Empty run
* for containers 41.9% 36.9% 41.4% 39.1%
Empty run* for flatcars 7.6% 7.7% 8.0% 8.8%
    
* Empty run ratio is calculated as an average empty run in kilometers divided by an average total run in kilometers
 
20 January 2011
 
 
For further enquiries:
 
Andrey Zhemchugov
 
Director, Capital Markets and Investor Relations
 
Phone: +7 (499) 262 8506, e-mail: ir(at)remove-this.trcont.ru
 
 
Simon Whitehead, Tony Friend
 
College Hill
 
+44 (0) 207 457 2020

This information is provided by RNS
The company news service from the London Stock Exchange

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