FESCO’s 10M’16 revenue down 24.3%, year-on-year, to $451.1 mln
FESCO has announced it preliminary financial results for the ten months ending October 31. The company says its revenue in January-October 2016 fell by 24.3%, year-on-year, to $451.1 mln. The company’s revenue in October 4.8% to $54.7 mln.
EBITDA fell by 24.6% to $74.3 mln, in October – grew by 12.9%, year-on-year, to $10.5 mln.
FESCO is one of the leading privately-owned transportation and logistics companies in Russia with operations in ports, rail, integrated logistics and shipping business. Diversified but integrated asset portfolio enables FESCO to provide D2D logistics solutions and control almost all steps of the intermodal transportation value chain. The majority of FESCO’s operations are located in the Russian Far East and the Group benefits from growing trade volumes between Russia and Asian countries. FESCO controls the Commercial Port of Vladivostok. FESCO is one of Russia’s top 10 private railcar operators providing services under the brands Transgarant (100%) and Russkaya Troika (50% JV with Russian Railways). FESCO owns and operates a fleet of 19 cargo ships and four icebreakers (in long-term time-charter).