Last checked at 5 Apr 2012 16:50
For immediate release 5 April 2012
Globaltrans Investment PLC
2012 CAPEX target achieved
Globaltrans Investment PLC (the "Company" and together with its consolidated subsidiaries "Globaltrans" or the "Group"; LSE ticker GLTR) announces that as part of the Group's CAPEX programme to acquire up to 10,000 railcars for delivery in 2012, its subsidiaries have this year to date signed contracts for the purchase of 6,238 gondola cars and 1,000 rail tank cars in total. The railcars under these contracts are expected to be delivered by the end of June 2012. In aggregate, with the contracts previously signed at the end of 2011, the Group has now contracted 9,988 railcars, therefore successfully achieving its 2012 target for railcar purchases. As previously announced, this capital expenditure programme will be financed through the Group's own funds as well as through borrowings.
Commenting on today's announcement Sergey Maltsev, CEO of Globaltrans Investment PLC, said:
"I am pleased to report that we continue to deliver on our promises to shareholders and have achieved our 2012 CAPEX target of acquiring 10,000 railcars. As in 2009, we have adhered to our strategy of opportunistic growth and given the current environment of decreased railcar prices combined with strong demand for our services, we have taken the opportunity to significantly increase our owned fleet. These new railcars will enable us to address the additional transportation needs of our clients, substitute part of our leased-in fleet and serve to enhance further our strong position as a leading independent private freight rail group in Russia. We continue to analyse any potential growth opportunities thoroughly with the aim of expanding our business further this year on an opportunistic basis."
ENQUIRIES
Globaltrans Investor Relations
Mikhail Perestyuk
+357 25 503 153
irteam@globaltrans.com
For international media
Holloway & Associates
Laura Gilbert / Zoe Watt
+44 20 7240 2486
globaltrans@rholloway.com
NOTES TO EDITORS
Globaltrans is Russia's leading private freight rail transportation group and the first such group to have an international listing.
Globaltrans Investment PLC is incorporated in Cyprus with major operating subsidiaries located in Russia, Ukraine and Estonia. The Group provides freight rail transportation, railcar leasing, and certain ancillary services to clients in Russia, the CIS countries and the Baltics.
The Group's fleet of rolling stock owned and leased under finance and operating leases amounted to 49,529 units at 30 June 2011, including 28,776 gondola cars, 20,207 rail tank cars, 56 locomotives and 490 other railcars.
The Group's Freight Rail Turnover in the first six months of 2011 was 57.5 billion tonnes-km with 36.4 million tonnes of freight transported. In the first six months of 2011 the Group's Adjusted Revenue was USD 603.6 million with Adjusted EBITDA reaching USD 256.5 million.
Globaltrans' global depositary receipts (ticker symbol: GLTR) have been listed on the Main Market of the London Stock Exchange since May 2008.
To learn more about Globaltrans, please visit www.globaltrans.com.
LEGAL DISCLAIMER
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of Globaltrans. You can identify forward-looking statements by terms such as 'expect', 'believe', 'anticipate', 'estimate', 'intend', 'will', 'could', 'may' or 'might', the negative of such terms or other similar expressions. Globaltrans wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Globaltrans does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Globaltrans, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries Globaltrans operates in, as well as many other risks specifically related to Globaltrans and its operations.