Last checked at 20 Dec 2011 07:00
For immediate release 20 December 2011
Globaltrans Investment PLC: CAPEX program for 2012
Globaltrans Investment PLC (the "Company" and together with its consolidated subsidiaries "Globaltrans" or the "Group"; LSE ticker GLTR) announces its capital expenditure program for the year 2012. The Group intends to acquire up to 10,000 gondola cars by the end of 2012 (including the recently announced contracts for the purchase of 1,500 railcars). This capital expenditure program is subject to favourable pricing of railcars and is expected to be financed through the Group's own funds as well as through borrowings.
Commenting on today's announcement Alexander Eliseev, Chairman of the Board of Directors of Globaltrans, said:
"Our strategy, which we have successfully implemented in the past, is focused on expanding our fleet when railcar prices are favourable and when the rail transportation market outlook is supportive to meet our investment return requirements. Railcar prices have decreased recently while at the same time we are seeing sustained demand for our services. With our strong balance sheet, we believe it is the right time to make a meaningful investment in our fleet, thereby profitably growing our business.
The fleet of railcars being acquired will both enable us to address the needs of our clients for additional transportation services as well as replace some of our leased-in railcars."
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.