20 Jan 2011 07:00
TRANSCONTAINER OPERATING RESULTS
FOR THE FOURTH QUARTER OF 2010 AND THE FULL YEAR 2010
Open Joint Stock Company "TransContainer" ("TransContainer" or the "Company") (LSE:TRCN) announces its preliminary operating results for the fourth quarter of 2010 and for the full year 2010.
The results show a continuing improvement in key operational metrics, reflecting both the overall market recovery and the Company's focus on restoring profitability.
Rail container transportation volumes
The Company's rail container transportation volumes for the fourth quarter of 2010 increased by 23.1% to 333 thousand twenty-foot equivalent units ("TEU") compared to the fourth quarter of 2009, mainly due to an increase in import transportation by 32 thousand TEU, or 132.7%, to 56 thousand TEU.
Domestic transportation for the same period increased by 6.6% to 197 thousand TEU compared to the fourth quarter of 2009.
Transportation of containers by TransContainer's fleet in 4Q 2010 (ISO Loaded + Empty), 000' TEU
4q 2009 | 4q 2010 | Change | ||
000' TEU | % | |||
Domestic Routes | 185 | 197 | 12 | 6.6% |
Export | 56 | 72 | 16 | 29.0% |
Import | 24 | 56 | 32 | 132.7% |
Transit | 5 | 8 | 3 | 44.3% |
All Routes | 270 | 333 | 63 | 23.1% |
Rail container transportation volumes for the full year 2010 increased by 9.5% to 1,202 thousand TEU compared to the year ended December 31, 2009, mainly due to an increase in import transportation by 94 thousand TEU, or 98.6%, to 190 thousand TEU.
Domestic transportation in 2010 declined by 3.6% to 719 thousand TEU compared to the previous year, reflecting a shift in Company's policy in the first half of 2010 aimed at focusing on more profitable routes, in line with its efficiency improvement policy.
Transportation of containers by TransContainer's fleet in 2010 (ISO Loaded + Empty), 000' TEU
2009 | 2010 | Change | ||
000' TEU | % | |||
Domestic Routes | 746 | 719 | (27) | (3.6)% |
Export | 237 | 264 | 27 | 11.3% |
Import | 96 | 190 | 94 | 98.6% |
Transit | 19 | 29 | 10 | 52.3% |
All Routes | 1,098 | 1,202 | 104 | 9.5% |
As a result of the above, in 2010 import transportation represented 15.8% of TransContainer's transportation volumes compared to 8.7% one year ago, while the share of domestic transportation decreased from 67.9% in 2009 to 59.8% in 2010.
Terminal handling
Throughput of the Company's rail container terminal network for the fourth quarter of 2010 amounted to 433 thousand TEU, an increase of 48 thousand TEU, or 12.5%, compared to 385 thousand TEU in the fourth quarter of 2009.
For the full year 2010, the Company's terminal-handling volumes amounted to 1,599 thousand TEU, representing an increase of 139 thousand TEU, or 9.5%, compared to 2009.
Asset utilisation
The Company's key asset utilisation metrics showed significant improvement in the fourth quarter of 2010 and for the full year 2010:
4q 2009 | 4q 2010 | 2009 | 2010 | |
Turnover of containers, days | 30.9 | 21.3 | 27.7 | 21.8 |
Turnover of flatcars, days | 14.9 | 13.4 | 15.7 | 14.2 |
Empty run* for containers | 41.9% | 36.9% | 41.4% | 39.1% |
Empty run* for flatcars | 7.6% | 7.7% | 8.0% | 8.8% |
* Empty run ratio is calculated as an average empty run in kilometers divided by an average total run in kilometers
20 January 2011
For further enquiries:
Andrey Zhemchugov
Director, Capital Markets and Investor Relations
Phone: +7 (499) 262 8506, e-mail: ir@trcont.ru
Simon Whitehead, Tony Friend
College Hill
+44 (0) 207 457 2020