OREANDA-NEWS. September 23, 2011. TransContainer posted strong 1H11 IFRS results with a particuarly pleasant surprise on the bottom line, with healthy EBITDA and net profit margins.

Though we expected considerable margin growth given that there have been no delayed crisis expenditure in 2011 (as in 2010) and higher asset utilisation, the company managed to beat our and market expectations (EBITDA margin of 34.6% vs Bloomberg consensus of 30.6%). We attribute most of this surprise to a higher share of high-margin integrated-logistics services.

The results release will be followed by an analyst call on Friday (23 Sep) at 11.00 UK time and 14:00 Moscow time. We expect to hear management’s outlook on 2H11, which may prove to be difficult for container transporting companies as container traffic is highly sensitive to macroeconomics conditions.

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Conference ID – 12271074