The Board of Directors of OJSC Mostotrest approved the acquisition of 25.9% of the shares in Transstroymekhanizatsiya LLC (TSM) and the withdrawal from Engtransstroy Corporation LLC, Mostotrest informed.
For the purpose of this transaction, the 25.9% stake in TSM was estimated at RUB 125.8 million. As a result, Mostotrest will hold 76% in TSM.
OJSC Mostotrest (tax number: 7701045732) is a diversified company engaged in infrastructure development projects.
Mostotrest's core competences include construction and rehabilitation of automobile, railway and urban bridges, automobile roads and other infrastructure.
The company was established in 1930 as a developer of complex and oversized bridges, and has built and rehabilitated more than 7,500 infrastructure projects (bridges, flyovers, tunnels and interchanges) to date.
Mostotrest's ownership structure is as follows: Marc O'Polo Investments (beneficiary shareholders: Arkady and Igor Rotenberg and top-managers of the transport group N-Trans Konstantin Nikolayev, Nikita Mishin and Andrei Filatov) holds 38.6%; Transfingroup Management Company, trust management of NPF Blagosostoyanie's pension funds holds 27.1%. The free float is 34.3%.
Net profit (IFRS) of OJSC Mostotrest for H1 2012 increased by 14% year-on-year to RUB 1.8 billion. Revenue increased by 25% to RUB 45.7 billion, GP by 6% to RUB 6 billion, EBITDA by 7% to RUB 4.5 billion.
According to the information and retrieval system DataCapital, net profit (RAS) of Mostotrest for 9 months 2012 decreased by 28% to RUB 1.977 billion from RUB 2.755 billion for 9 months 2011. Revenue increased almost 1.5-fold to RUB 43.636 billion from RUB 29.461 billion. GP decreased by 21.2% to RUB 4.59 billion from RUB 5.823 billion, pre-tax profit by 28.3% to RUB 2.463 billion from RUB 3.434 billion.