FESCO posts its 1H’14 loss of RUB 1.9 bln
In 1H2014, total aggregate loss of FESCO Transportation Group calculated under IFRS made RUB 1.96 bln against profit of RUB 45 mln in 1H2013. According to the Group’s materials, the revenue climbed by 3.7% to RUB 17.95 bln.
The loss without the effect of translation totaled RUB 669 mln against profit of RUB 427 mln in 1H’13.
FESCO is one of Russia’s 10 largest private railway operators. It is known under the brands of Transgarant (100% subsidiary of FESCO) and Russkaya Troyka (50% joint venture with Russian Railways OJSC).
The fleet of FESCO Group consists of 24 vessels operating mainly at the Group’s own sea lines as well as 4 icebreakers managed by the Group under long-term lease agreement.
FESCO operational results for 1H2014
|
|
1Q 2014 |
2Q 2014 |
1H2014 |
1H2013 |
Dynamics |
|
Intermodal freight transportation (TEU)* |
55,995 |
61,479 |
117,474 |
117,187 |
+0.2% |
|
Export-import sea sontainer trade (TEU) |
94,475 |
108,067 |
202,542 |
181,203 |
+11.8% |
|
Domestic sea container trade (TEU) |
12,828 |
15,326 |
28,154 |
28,871 |
-2.5% |
|
VMTP container throughput (TEU) |
109,828 |
132,784 |
242,612 |
223,802 |
+8.4% |
|
VMTP non-container cargo throughput (excluding vehicles) (thousand tons) |
827 |
448 |
1,275 |
1,059 |
+20.4% |
|
Automobiles and transportation vehicles throughput (units) |
15,329 |
21,487 |
36,816 |
47,922 |
-23.2% |
|
Rail container transportation («RusskayaTroyka» and «Transgarant») (TEU) |
70,219 |
77,119 |
147,338 |
136,353 |
+8.1% |
|
Rail cargo load (million tons) |
4.9 |
5.0 |
9.9 |
10.2 |
-2.9% |
|
Rail cargo turnover (billion ton-kilometers) |
7.6 |
7.8 |
15.4 |
16.1 |
-4.3% |
* - excluding transportation of empty carrier owned containers (COC)
|
$ millions |
1Q 2014 |
2Q 2014 |
1H2014 |
1H2013 |
Dynamics |
|
Port |
|
|
|
|
|
|
Rvenue |
44.4 |
45.5 |
90.1 |
98.4 |
-8.5% |
|
EBITDA |
19.3 |
19.3 |
38.6 |
44.0 |
-12.3% |
|
EBITDA margin |
43.55% |
42.4% |
42.9% |
44.7% |
-1.8 pt |
|
Rail |
|
|
|
|
|
|
Revenue |
44.6 |
40.4 |
85.0 |
140.9 |
-39.7% |
|
EBITDA |
0.0 |
9.4 |
9.4 |
17.5 |
-46.3% |
|
EBITDA margin |
0.0% |
5.6% |
3.1% |
5.3% |
-2.2 pt |
|
Liner & Logistics |
|
|
|
|
|
|
Revenue |
137.3 |
167.5 |
304.8 |
327.5 |
-6.9% |
|
EBITDA |
0.0 |
9.4 |
9.4 |
17.5 |
-46.3% |
|
EBITDA margin |
0.0% |
5.6% |
3.1% |
5.3% |
-2.2 pt |
|
Shipping |
|
|
|
|
|
|
Revenue |
19.8 |
13.5 |
33.3 |
28.7 |
+16.0% |
|
EBITDA |
4.4 |
-1.5 |
2.9 |
-3.9 |
- |
|
EBITDA margin |
22.2% |
- |
8.7% |
- |
- |
|
Bunkering |
|
|
|
|
|
|
Revenue |
29.4 |
41.5 |
70.9 |
12.1 |
+486% |
|
EBITDA |
3,8 |
2,4 |
6,2 |
0,8 |
+675% |
|
EBITDA margin |
12.9% |
5.8% |
8.7% |
6.6% |
+2.1 pt |
