Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Russian Railways' 2013 Net Profit Shrinks
5.05.2014 14:51
Russian Railways' 2013 Net Profit Shrinks
Photo Credit:

Russian Railways has posted positive 2013 results but investors are unlikely to be impressed over a net profit of $1 billion, which is almost a third of its 2012 figure.

      According to its IFRS statement, the Group’s total revenues increased 14.4 percent year-on-year to 1,762.8 billion rubles from 1,540.3 billion rubles in 2012. The key drivers of revenue growth in 2013 were the consolidation of the logistic company GEFCO and higher revenues in the passenger segment. GEFCO’s revenue amounted to 168.9 billion rubles for the year 2013.

      Revenues from passenger transportation were up 7.1 percent thanks to a higher passenger turnover and tariff indexation. Freight revenues rose 1 percent, compared with 2012, on the back of a lower average yield of freight rail transportation.

      Operating costs grew by 17.8 percent in the reporting period to 1,689.9 billion rubles versus 1,434.3 billion rubles a year before.

      Depreciation and amortization costs increased 8.44 percent from 193.6 billion rubles in 2012 to 210 billion rubles in 2013 reflecting the commission of new assets.

      The Group’s EBITDA totaled 332.9 billion rubles in 2013 compared with 356.3 billion rubles a year before. EBITDA margin was at 20.4 percent, which is in line with the Company’s forecasts.

      The Group’s net profit amounted to 36.7 billion rubles in 2013 against 93.7 billion rubles in 2012. Russian Railways blame the plunge on unfavorable economic conditions and a lower yield of freight transportation services due to higher share of low-yield cargos in rail freight turnover.


Author: Mikhail Vesely

Tags: Russian Railways     

Next Previous

You might also find interesting:

Comment on our site

RSS   twitter      submit

Monuments in Moscow  Helena Blavatsky  gold mining  The Planetarium  Russian women  Russian Lakes  Russian Arctics  Russian urban culture  Russian science  VTB  tourism  Russian tourist destinations  children  Olympics-2014  Dvortsovaya Tower  Saint Petersburg  St. Petersburg  Ukraine  Street Art  Finance Minister  Russian ballet dancers  Kaliningrad Oblast  Russian souvenirs  Russian scientists  Vitas  Exhibitions in Moscow  Tyumen  Moscow  Paralympic Games 2014  Mercedes-Benz Fashion Week Russia  Russia regions  Russian opera  Russian pop-music  Russian economy  Samara  Russian Arts and Crafts  Slavic Integration Forum  Russia opposition  Chess and Jazz Festival  Alexander Lebedev  Russian tourism  Russian fashion designer  Noize MC  IT  LDPR  Novgorod  Russian business  Russian Cinema  Maly Theatre  Russian oligarchs 

Travel Blogs
Top Traveling Sites