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.