In 2013, OJSC Russian Railways plans to gain about RUB 34 billion from the sale of its stakes in subsidiaries and affiliates, the company informed.
Russian Railways will continue selling shares of its subsidiaries and affiliates once such deals are approved by the Government of the Russian Federation.
In particular, the company intends to dispose of 75% less 2 shares in OJSC Novosibirsk Switch Plant, OJSC Vagonremmash, OJSC First Non-Metal Company and OJSC Moscow LRZ (a locomotive repair plant). Also, Russian Railways is set to sell 100% less 1 share in OJSC Saransky VRZ (a car repair plant), 25% plus 1 share in OJSC Roszheldorproject, 50% less 2 shares in OJSC RZDstroy and OJSC BetElTrans. Besides, shares in the car repair plants OJSC VRK-2 and OJSC VRK-3 will go on sale.
It will be recalled that Russian Railways' total revenue from the sale of its stakes in subsidiaries and affiliates amounted to about RUB 76 billion in 2012.
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.