[281215.EN.BIZ] FESCO's Box Volume and Consolidated Revenue Fall In First Nine Months

ONE of Russia's largest privately owned transportation and logistics company FESCO Transportation Group reported that consolidated revenue in the first nine months of the year decreased 35.6 per cent to US$543.5 million compared to the same period in 2014.

Consolidated EBITDA fell by 32.7 per cent from $131.5 million to $88.5 million, while the group's EBITDA margin increased by 0.7 per cent to 16.3 per cent, according to St Petersburg's PortNews.

The Group's total container throughput in nine-month period decreased by 32 per cent from the same period last year to 259,200 TEU in line with negative market trends. During the same period, general cargo volumes fell 14 per cent to 1.5 million tonnes.

The port division's revenue decreased 36.7 per cent year on year to $89 million on the back of weakening volumes. EBITDA declined 28.8 to $48.2 million while EBITDA margin improved six percentage points to 54.2 per cent due to cost-cutting initiatives.

Rail container transportation by Transgarant and Russkaya Troyka decreased by 11.4 per cent over the first nine months of last year to 209, 600 TEU in 9M2015. Rail Division's revenue in the nine-month period amounted to $81.8 million a decrease of 34.9 per cent year on year due to the effect of currency devaluation.

Source : HKSG.