OREANDA-NEWS. July 10, 2012. JSC Freight One published consolidated IFRS statements for 2011.

The company's revenue at year-end 2011 increased by 13% (compared to 2010) and

reached 117.37 billion rubles. At the same time operating expenses increased by 6.5%, up to 85.63 billion rubles, 39.26 billion rubles of which accounted for freight services.

Freight One operating income increased by 37% (compared to 2010) and reached 31.74 billion rubles. Operating margin was 27%. Net profit increased by 32% to 26.22 billion rubles.

EBITDA increased by 42% (compared to 2010) to 40.9 billion rubles, EBITDA margin was 35%.

The main 2011 corporate event was 75% minus two shares auction of JSC Freight One in October, 2011. OOO "Independent Transport Company"(LLC) was recognized the winner of the auction. The result of the transaction was Freight One's becoming the part of UCL Rail (International rail transport division of Universal Cargo Logistics Holding).


"In 2011 Freight One reached convincing financial results, showing a significant increase in financial highlights - revenue, EBITDA and net profit. The growth of rates compared to the last year was mainly determined by reducing the costs of empty freight car mileage through improving the efficiency of organization of transport, as well as by reducing the rolling stock maintenance cost. In addition, last year and after the accounting period, Freight One undertaken a number of measures aimed at increasing client portfolio and expanding its market presence. These measures included:  transition to standalone operation of gondola park and offering public offer services to the market. Taking into account the effective financial policy and stable production base, Freight One considers acquiring locomotives for independent implementation of transportation by railroad and creating its own car-maintenance base", said Oleg Bukin, Freight One CEO.