FESCO Transportation Group releases preliminary operational results for 2012

06 February 2013
FESCO Transportation Group (MICEX-RTS: FESH) releases its preliminary operational results for the year ended December 31, 2012. In the reporting period, the Company’s flagship container transportation and processing business demonstrated the solid growth.

Bilateral sea container transportation was up 14.1% YoY reaching 342.7 thousand TEU, while domestic sea container transportation volumes increased by 8.0% YoY to 68.0 thousand TEU. Intermodal freight transportation rose by 5.5% to 207.8 thousand TEU. Moreover, Vladivostok Commercial Sea Port (VMTP) container cargo throughput grew by 5.6% to 456.1 thousand TEU. Rail container transportation amounted to 264.7 thousand TEU (up 5.1% YoY). Reefer cargo transportation increased by 32.5% reaching 49.7 thousand TEU.

During the period under review, FESCO was continuously developing its services and transportation network. In September 2012, the Group launched FESCO Siberian Shuttle (eastbound) — a new regular container train linking Novosibirsk and Vladivostok. At the same time, FESCO Sochi Direct Line (FSDL) was extended with a new destination. Since October 2012, FSDL vessels are also calling Ambarli port in Istanbul. The installation of the new loading cranes contributed significantly to the increase in VMTP container cargo throughput.

In 2012, the non-container rail transportation demonstrated certain reduction in volumes. Thus, rail conventional cargo load decreased by 7.5% to 23.6 million tons, while the cargo turnover fell by 11.3% to 29.7 billion ton-kilometers. The negative dynamics was in large measure conditioned by the growing rolling stock turnover (by 4% to 10.8 days) due to average speed reduction within Russian Railways’ network, as well as Transgarant railway fleet drawdown by 2.3% to 16.2 thousand units.

In the reporting period, the automobiles and transportation vehicles throughput at VMTP soared by 20.3% and reached 85.1 thousand units. This goes in line with FESCO strategy of re-fitting the port for high value-added cargo. In 2012, VMTP non-container cargo throughput (excluding vehicles) grew by 3.2% and amounted to 3.0 million tons.

«We are pleased with the results of the past year. The Group proceeds with its strategy of container business development, strengthening the market positions and improving the efficiency. In order to provide our customers with the best transportation solutions, we are continuously improving the quality and expanding the geography of our services and optimizing the logistic chains for the container cargo transportation and handling», said FESCO President Yury Gilts.

1 The figure includes both intermodal freight transportation and freight forwarding

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