21 Dec 2010 10:41
21 December 2010
OJSC TransContainer
TRANSCONTAINER OPERATING RESULTS FOR 9 MONTHS 2010
Open Joint Stock Company "TransContainer" ("TransContainer" or the "Company") (LSE: TRCN) announces its operating results for the nine months ended September 30, 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
Rail container transportation volumes for the nine months ended 30 September 2010, increased by 5.0% to 869 thousand twenty-foot equivalent units ("TEU") compared to the nine months ended September 30, 2009. This was mainly due to an increase in import transportation by 62.5 thousand TEU, or 87.1%, to 134 thousand TEU.
Domestic transportation for the nine months ended September 30, 2010 declined by 6.9% to 522.1 thousand TEU compared to the same period in 2009. This was mainly due to the Company's focus on more profitable destinations, in line with its efficiency improvement policy.
Transportation of containers by TransContainer's fleet (ISO Loaded + Empty), 000' TEU
9m09 | 9m10 | Change | ||
000' TEU | % | |||
Domestic Routes | 561 | 522 | (39) | (6.9)% |
Export | 182 | 191 | 9 | 5.2% |
Import | 72 | 134 | 62 | 87.1% |
Transit | 14 | 22 | 8 | 62.1% |
All Routes | 828 | 869 | 41 | 5.0% |
As a result of the above, the share of domestic transportation in TransContainer's transportation volumes decreased from 67.8% for the nine months ended September 30, 2009 to 60.1% for the nine months ended September 30, 2010; while the share of import transportation almost doubled from 8.7% to 15.4%, respectively.
Breakdown of container transportation volumes by TransContainer's fleet | |||
9m09 | 9m10 | ||
Domestic Routes | 67.8% | 60.1% | |
Export | 21.9% | 22.0% | |
Import | 8.7% | 15.4% | |
Transit | 1.6% | 2.5% | |
All Routes | 100.0% | 100.0% | |
Terminal handling
Throughput of TransContainer's terminal network for the nine months ended September 30, 2010 amounted to 1,166 thousand TEU, representing an increase by 92.1 thousand TEU, or 8.6% compared to the same period of 2009.
Assets and asset utilisation
The Company's railcar fleet as at September 30, 2010 comprised 25,251 units compared to 24,735 units as at December 31, 2009. During the reporting period TransContainer pursued a policy aimed at improving the fleet structure with a focus on the acquisition of 80ft flatcars. As a result, as of September 30, 2010, the Company's fleet capacity had grown by 4.2% to 73,499 TEU from 70,543 TEU as at December 31, 2009.
Railcar fleet as of September 30, 2010
| |||||
Flatcar type | Leased | Owned | Total | TEU capacity | Breakdown by TEU capacity |
40 ft | 1,477 | 5,058 | 6,535 | 13,070 | 17.8% |
60 ft | 0 | 14,435 | 14,435 | 43,305 | 58.9% |
80 ft | 286 | 3,995 | 4,281 | 17,124 | 23.3% |
Total | 1,763 | 23,488 | 25,251 | 73,499 | 100.0% |
The Company's container fleet remained largely unchanged at 58,621 units, of which 42,291 units were 20ft containers and 16,330 units were 40ft containers.
The Company's key asset utilization metrics have also shown significant improvement in the nine months ended September 30, 2010.
9m 2009 | 9m 2010 | Change | |
Turnover of containers, days | 26.6 | 21.9 | (4.7) |
Turnover of flatcars, days | 15.9 | 14.4 | (1.5) |
Empty run for containers, % | 41.3% | 39.9% | (1.4)% |
Empty run1 for flatcars, % | 8.1% | 9.2% | 1.1% |
1Empty run ratio is calculated as an average empty run in kilometers divided by an average total run in kilometers
In particular, the turnover of flatcars and containers improved, reflecting, inter alia, growth in container transportation by block-trains: for the nine months ended September 30, 2010, the number of block-trains launched by TransContainer increased by 126.7% to 1,469 compared to the same period of 2009. In the nine months ended September 30, 2010 TransContainer transported 197.8 thousand TEU in block-trains compared to 77.9 thousand TEU transported in block-trains in the nine months ended September 30, 2009.
Contacts:
TransContainer
Andrey Zhemchugov
Director, Capital Markets and Investor Relations
Phone: +7 (499) 262 8506, e-mail: ir@trcont.ru
College Hill, London
Simon Whitehead, Leonid Fink, Tony Friend
Phone : +44 (0) 207 457 2020