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18 Apr 2013

Operating Results for the First Quarter of 2013

RNS Number : 6301C

OJSC Transcontainer

18 April 2013

JSC TransContainer

OPERATING RESULTS FOR THE FIRST QUARTER OF 2013

Open Joint Stock Company "TransContainer" ("TransContainer" or the "Company") (LSE: TRCN) announces its preliminary operating results for the first quarter of 2013. The operating results reflect a weakening in market conditions for Russian rail transporters amid an increasingly competitive environment and a challenging economic climate.

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 in Russia for the first quarter of 2013 decreased by 1.3% to 342 thousand twenty-foot equivalent units ("TEU") compared to 347 thousand TEU for the same period of 2012. This was mainly due to an 11% drop in domestic transportation volumes, partly compensated for by growth in imports, which grew by 36.4%. A decrease in the Company's domestic transportation on the back of a 2.8% reduction in Russia's total domestic rail container turnover and the tightening competition on domestic routes, was also driven by a change in focus towards the fast growing Import-bound container traffic, as indicated in the respective waybill.
import transportation
segment and partial employment of the Company's Cars for carrying cargo or passengers designated for railway transportation.
rolling stock
in Kazakhstan and Central Asia by its subsidiary Kedentransservice.

Transportation of containers by TransContainer's fleet in 1Q 2013 (ISO Loaded + Empty), 000' TEU


1Q 2013

1Q 2012

Change 1Q 2013 / 1Q 2012




000' TEU

Percent

Domestic Routes

167.1

186.8

-19.6

-10.5%

Export

90.7

90.6

+0.1

+0.1%

Import

64.4

47.2

+17.2

+36.4%

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

20.1

22.2

-2.1

-9.4%

All Routes

342.4

346.8

-4.4

-1.3%

 

Rail container transportation volumes carried out by KedenTransService, the Company's subsidiary in Kazakhstan, amounted to 15 thousand TEU in 1Q 2013, which represents a 4-fold increase on the first quarter of 2012.

The Company's revenue-generating container transportation1 volumes in Russia decreased by 0.4% in the first quarter of 2013 to 259 thousand TEU from 260 thousand TEU in the first quarter of 2012.

TransContainer's estimated share of Russia's rail container transportation decreased to 48.5% in the first quarter of 2013 compared to 49.7% in the first quarter of 2012.

__________
1
transportation of clients’ containers and own loaded containers

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 in Russia in the first quarter of 2013 decreased by 10.9% to 297 thousand TEU compared to 333 thousand TEU for the same period of 2012. This decline is mainly due to the continuing phasing out of 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
) - MDC handling volumes fell by 69.4%.

The volume of ISO container handling in Kazakhstan by KedenTransService's rail side terminals amounted to 37 thousand containers in the first quarter of 2013, a 64.6% increase over the first quarter of 2012.

Asset utilisation

In the first quarter of 2013, both A specialised type of rolling stock designed to carry ISO containers.
flatcar
and container empty runs improved considerably, mainly due to fleet relocation undertaken by the Company at the end of 2012 ahead of tariff increases by Russian Railways (RZD) in January 2013. Growth in the container and flatcar turnover reflects the weak market environment in the first quarter of 2013 combined with the low season effect in January and February of 2013.


1Q 2013

1Q 2012

Turnover of containers, days

26.0

23.1

Turnover of flatcars, days

14.0

13.6




For containers - transporting an empty container on a flatcar, for flatcars – a flatcar run without container(s) or any non-container cargo.
Empty run
3 for containers, %

29.2%

39.3%

Empty run3 for flatcars, %

6.1%

8.1%

__________

3 The Empty run ratio is calculated as an average empty run in kilometers divided by an average total run in kilometers

 

18 April 2013

Enquiries:

TransContainer


Andrey Zhemchugov,
Director, Capital Markets and Investor Relations

+7 495 637 9178

+7 495 609 6062

E-mail

IR@trcont.ru

Website

www.trcont.ru

College Hill

 

Tony Friend / Alexandra Roper

+44 (0) 20 7457 2020


This information is provided by RNS

The company news service from the London Stock Exchange

END

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