Open Joint Stock Company "TransContainer" announces its preliminary operating results for the fourth quarter of 2011 and for the full year 2011.
RNS Number : 8059V
19 January 2012
OPERATING RESULTS FOR THE fourth QUARTER OF 2011 AND THE FULL YEAR 2011
Open Joint Stock Company "TransContainer" ("TransContainer" or the "Company") (LSE: TRCN) announces its preliminary operating results for the fourth quarter of 2011 and for the full year 2011. The operating results reflect sustainable development of the Company's business amid continuing market growth.
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 2011 increased by 8.7% to 362 thousand twenty-foot equivalent units ("TEU") compared to 333 thousand TEU for the same period of 2010. This was mainly due to an increase in export transportation which went up by 17.1%.
Transportation of containers by TransContainer's fleet in 4Q 2011 (ISO Loaded + Empty), 000' TEU
4Q 2011 4Q 2010 Change
000' TEU Percent
Domestic Routes 203 197 6 +2.8%
Export 85 72 12 +17.1%
Import 60 55 4 +7.6%
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 14 8 7 +88.9%
All Routes 362 333 29 +8.7%
The Company's rail container transportation volumes for the full year 2011 increased by 13.3% to 1,362 thousand TEU compared to 1,202 thousand TEU in 2010, mainly due to an increase in import and export transportation. Domestic transportation volumes in 2011 rose by 8.2% to 778 thousand TEU.
Transportation of containers by TransContainer's fleet for 2011 (ISO Loaded + Empty), 000' TEU
2011 2010 Change
000' TEU Percent
Domestic Routes 778 719 59 +8.2%
Export 329 264 64 +24.4%
Import 222 190 32 +16.6%
Transit 34 29 5 +17.8%
All Routes 1,362 1,202 160 +13.3%
The Company's revenue-generating container transportation* volumes grew by 14.4% to 276 thousand TEU in the fourth quarter of 2011 as compared to 241 thousand TEU in the fourth quarter of 2010. For the full year 2011 revenue-generating container transportation volumes increased by 17.2% to 1,020 thousand TEU as compared to 870 thousand TEU in 2010.
TransContainer's estimated share of Russia's rail container transportation decreased slightly to 51.1% in 2011 from 52.1% in 2010.
*transportation of clients' containers and own loaded containers
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 in Russia for the fourth quarter of 2011 decreased by 0.8% to 400 thousand TEU compared to 403 thousand TEU in the fourth quarter of 2010. This decrease resulted from a drop in medium-duty containers (A medium duty container of an outdated local standard for Russia and former Soviet Union states, designed to carry loads not exceeding 5 tons.
MDC) handling by 37.3% from 69 thousand TEU to 43 thousand TEU. ISO container handling increased by 6.7% from 334 thousand TEU in the fourth quarter of 2010 to 357 thousand TEU in the last quarter of 2011.
For the full year 2011, the Company's terminal handling volumes at Russian terminals amounted to 1,577 thousand TEU, representing an increase of 6.8% compared to 2010. A 14.4% increase in ISO container handling from 1,208 thousand TEU in 2010 to 1,381 thousand TEU in 2011 was partially offset by a decrease in MDC handling by 34.1% from 297 thousand TEU to 196 thousand TEU.
The majority of the Company's key asset utilization metrics showed significant improvement in the fourth quarter of 2011 and for the full year 2011, as compared with the respective reporting periods of 2010 as a result of Company's efforts aimed at improving operational efficiency.
4Q 2011 4Q 2010 2011 2010
Turnover of containers, days 22.0 21.3 21.9 21.8
Turnover of flatcars, days 13.3 13.4 13.1 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, % 34.4% 36.9% 34.4% 39.1%
Empty run* for flatcars, % 7.4% 7.7% 8.3% 8.8%
* Empty run ratio is calculated as an average empty run in kilometers divided by an average total run in kilometers
19 January 2012
Andrey Zhemchugov, Director, Capital Markets and Investor Relations +7 (499) 262 8506
Tony Friend / Alexandra Roper +44 (0)20 7457 2020
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