OJSC Russian Railways sold 100% less 1 share of OJSC Saransk Railcar Repair Plant at an auction, Russian Railways informed.
CJSC Taltek won the auction which was held on February 14 pursuant to resolution 495-r of the Government of the Russian Federation dated March 24, 2011 and a corresponding decision made by the Board of Directors of Russian Railways.
The block of shares in the Saransk Railcar Repair Plant was sold for RUB 530 million, the starting price being RUB 527.83 million. One company and one individual applied for bidding, both were allowed to take part in the auction organized by OJSC TransCreditBank.
The Saransk Railcar Repair Plant is one of the largest enterprises specializing in major repairs of petrol/petroleum tanks and special purpose tanks extending their service life. The factory also produces rolling stock.
OJSC Russian Railways (tax number: 7708503727) was established on October 1, 2003 on the basis of the Ministry of Railway Communication. The state owns 100% of the company's shares which owns a railway system stretching for 85.5 thousand km.
IFRS net profit of Russian Railways for H1 2012 increased by 11% year-on-year to RUB 74 billion against RUB 67 billion the year before. Revenue increased by 5% and was RUB 745 billion against RUB 710 billion for H1 2011. Operating profit of the holding (before subsidies from the federal and local budgets) totaled RUB 86 billion EBITDA increased by 13% to RUB 211 billion.
According to the information and retrieval system DataCapital, net profit (RAS) of Russian Railways for 9 months 2012 decreased by 29% to RUB 39.881 billion from RUB 56.075 billion the year before. Revenue grew by 6% to RUB 1.02 trillion from RUB 962.286 billion, GP by 11.16% to RUB 92.824 billion from RUB 83.505 billion, pre-tax profit decreased by 12.3% to RUB 79.242 billion.