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04/12/2013
17:24
M&A: JSC Russian Railways Logistics sells equity stake in Vanino Port

JSC Russian Railways Logistics (a subsidiary of JSC Russian Railways) withdrew from PJSC Vanino Port, the port informed.

Earlier, Russian Railways Logistics owned 24.99827% of the port's voting shares indirectly (through its subsidiary CJSC Titan).

PJSC Vanino Port (VMTP, English: Vanino Commercial Sea Port, tax number: 2709001590), a stevedoring company in Khabarovsk area, provides cargo handling and accompanying forwarding services. The port is a transshipment location from which the goods are delivered to the northeast regions of Russia, Australia, the USA, Japan, South Korea, China and other APR countries.

Vanino Port is located in the naturally deep Vanina Bay in the Strait of Tartary which links the Pacific Ocean's Sea of Okhotsk and Sea of Japan. Vanino is the largest transport hub in the Khabarovsk Region and one of Russia's ten largest ports. Navigation at the port is open year round.

According to the information and retrieval system DataCapital, RAS net profit of PJSC Vanino Port for 9 months 2013 increased 2.72-fold to RUB 406.619 million from RUB 149.442 million the year before. Revenue grew by 42.66% to RUB 1.612 billion from RUB 1.13 billion, sales profit 6.2-fold to RUB 526.105 million from RUB 84.834 million, pre-tax profit 3.06 times to RUB 573.692 million from RUB 187.502 million.

JSC Russian Railways (tax number: 7708503727) was established on October 1, 2003 on the basis of the Ministry of Railway Communication. The state holds 100% of the company's shares which owns a railway system stretching for 85.5 thousand km. The company's authorized capital is RUB 1.827 trillion.

IFRS net profit of the company for 2012 dropped 2.2-fold to RUB 78.262 billion from RUB 169.588 billion in 2011. Revenue increased by 4.1% to RUB 1.54 trillion from RUB 1.479 trillion. Operating profit (before subsidies from the federal and local budgets) was RUB 72.038 billion, EBITDA decreased by 8.9% to RUB 319 billion from RUB 350 billion, EBITDA margin to 21% from 24%.

According to the information and retrieval system DataCapital, RAS net profit of JSC Russian Railways for 9 months 2013 decreased 9.37-fold to RUB 4.258 billion from RUB 39.881 billion the year before. Revenue grew by 0.19% to RUB 1.022 trillion from RUB 1.02 trillion, sales profit decreased by 32.64% to RUB 62.476 billion from RUB 92.751 billion, pre-tax profit 3.24-fold to RUB 24.458 billion from RUB 79.242 billion.


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