TransContainer published its IFRS results for the 3rd quarter and 9 months of 2014
PJSC TransContainer today published its interim condensed financial statements under the International Financial Reporting Standards (IFRS) together with the management report for the third quarter and nine months ended 30 September 2014.
During the nine months of 2014, the Company’s total revenue decreased by 6.3% year on year to RUB 26,984 million. In the third quarter of 2014 the Company’s total revenue was RUB 9,450 million, down 11.1% year on year.
In the first nine months of 2014 the Company’s EBITDA decreased by 18.2% year on year to RUB 6,409 million and the net income declined by 29.3% to RUB 3,301 million from RUB 4,666 million for the similar period of 2013.
The Company’s financial results for the third quarter and nine months ended 30 September 2014 reflect sustained unfavourable pricing environment in the 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 market amid the continued slowdown in the Russian economy. The results were also affected by the change in the accounting for JSC KedenTransService results occurred in the fourth quarter of 2013.
Amid the tough market environment Company made an effort to maintain the profitability of business: Company’s adjusted EBITDA margin in the nine months of 2014 remained flat year on year at 41.6%, while the adjusted net profit margin remained above 20% level at 21.4% for the reporting period.
Company’s total assets as at 30 September 2014 were RUB 47,768 million, Company’s equity was RUB 33,778 million.
Consolidated IFRS accounts of PJSC TransContainer for the third quarter and nine months ended 30 September 2014 are available at: