Page 109 - RUSRptApr17

Cargo picture . The gondola segment’s ongoing improvement is supported by the 4.5% YoY rise in respective volumes. This trend is also reflected in rising lease rates, which approached RUB 1,100-1,200/day in March. Looking ahead, the upfront loading of railcar producers’ facilities indicates more than 30k of new gondolas additions (6% of fleet) vs. 15-20k of write-offs (3-4% of fleet) this year, which might slightly ease the balance. For the tank cars segment, we stick to our cautious view, with the surplus likely to remain for the coming year.
The net profit of state-owned Russian Railways increased by 26% in 2016
compared with 2015 from RUB8.18bn ($145.7mn) to RUB10.29bn rubles, according to its IFRS accounts in 2016, the company said. Revenue rose to RUB2.133 trillion from RUB1.99 trillion rubles, operating expenses from RUB2.094 trillion to RUB1.915 trillion rubles. The EBITDA increased by 15.4% to RUB443.27bn. The ratio of net debt to EBITDA was 1.9 in 2016 compared to 2.3 in 2015.
109 RUSSIA Country Report April 2017 www.intellinews.com