FESCO releases its FY2011 operational results: visible growth in the priority business segments

31 January 2012
FESCO Transportation Group (MICEX-RTS: FESH) today discloses its operational results for January – December 2011. In 2011, the highest growth rates were observed in the sphere of intermodal and rail container transportation, freight forwarding and container handling.

Based on the 12-months results, sea container trade volumes reached 430 659 TEU, that is 15% higher than in 2010. From this amount, bilateral and domestic sea container trade accounted for 367 331 TEU and 63 328 TEU respectively.

In the reporting period, intermodal transportation volumes increased by 40% amounting to 66 926 TEU, while freight forwarding grew by 43% (up to 121 007 TEU).

Rail container transportation demonstrated noticeable growth on the back of the increasing usage of the block-train service. In 2011, the Group’s rail container transportation volumes were 251 987 TEU, or 30% higher than in 2010. Moreover, rail conventional cargo load added 4% to the previous year figure totaling 25.5 mln tons. Rail cargo turnover decreased by 5% versus 2010 and stood at 33.5 bln ton-kilometers. This slight reduction was attributable to the decease of transportation distances.

In 2011, VMTP and VCT increased their total container cargo throughput by 27% (up to 432 062 TEU). On the other hand, VMTP general cargo handling decreased proportionally and amounted to 3 115 thsd tons. This goes in line with VMTP strategy of re-fitting the port for high value-added cargo such as containers and vehicles.

«I am pleased with the Group’s operational results in 2011. We obtained visible growth rates in the priority business directions keeping excellent performance in the high-margin container segment. I want to emphasize the solid development of intermodal transportation, which confirms the success of our strategy of providing integrated cargo transportation solutions to our clients», said FESCO President Sergey Generalov.

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