Home / EMEA / TransContainer to dispose of interest in Kazakh JSC Kedentransservice

TransContainer to dispose of interest in Kazakh JSC Kedentransservice

JSC TransContainer has announced that on 18 February 201 that  its Board of Directors approved in principle the disposal of the company’s entire 50% equity stake in Logistic System Management B.V. to JSC National Company Kazakhstan Temir Zholy (KTZ).

Logistic System Management B.V. controls 100% of the share capital of JSC Kedentransservice, Kazakhstan rail container and terminal operator. As a result of this transaction, KTZ’s ownership in Logistic System Management B.V. will increase to 100% from 50% subject to receiving all necessary corporate and government approvals.

TransContainer reported that its total revenue for 2014 increased by 9.8% to RUR 36,413 million, while the adjusted  revenue (total revenue less subcontractors’ fees under the integrated freight forwarding and logistics services) decreased by 5.4% to RUR 20,490 million. Operating profit decreased by 28.4% to RUR 3,962 million and EBITDA declined by 6.7% to RUR 8,227 million compared to the same period of 2013.

The company’s net profit amounted to RUR 3,944 million, representing a 12.9% decrease compared to the corresponding period of 2013.

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