TransContainer (TRCN)

Business description

TransContainer owns and operates rail freight assets across Russia. Its assets comprise rail flatcars, handling terminals and trucks, through which it provides integrated end-to-end freight forwarding services to its customers.

Stock data

Market cap.RUB60442.2m
Last closeRUB4,350.00
High / Low (52 weeks)RUB4750.0 / RUB2940.0
Stock market listingMoscow, LN
Forecast net debt (RUBm)11288
Forecast gearing ratio (%)15
TeamIndustrials
SectorGeneral Industrials

Price performance

%1m3m12m
Actual(5.4)31.815.7
Relative *(9.1)18.510.5

* % Relative to local index

Other companies in sector Show

Company news

Moody's: Most Russian companies have sufficient liquidity to repay debt ...

Thu, 15 Oct 2015 15:16:09 GMT

Moody's Interfax Rating Agency withdraws National Scale Ratings

Thu, 17 Mar 2016 22:05:10 GMT

Belozerov believes Transcontainer sale will not be possible this year‍​

Tue, 24 Oct 2017 09:22:14 GMT

Transcontainer Q3 container transportation up 16.0% Y-O-Y

Fri, 20 Oct 2017 06:00:03 GMT

Transcontainer to spin off tank-container transportation business

Thu, 14 Sep 2017 06:40:11 GMT

Y/E Dec Revenue (RUBm) EBITDA (RUBm) PBT (RUBm) EPS (fd) (RUB) P/E (x) P/CF (x)
2015A 20311.0 5744.0 3530.0 138.7 31.4 11.0
2016A 21988.0 6377.0 4302.0 202.4 21.5 8.1
2017E 26708.0 9660.0 7702.0 443.2 9.8 6.4
2018E 28322.0 10210.0 7287.0 419.3 10.4 5.9

Last updated on 23/10/2017

Investment summary

TransContainer’s strong operating performance continues, with a 48% improvement in H117 EBITDA, driven by top-line expansion of 49%. End-markets continue to grow strongly (+21% July 2017/July 2016), giving us confidence in our increased earnings estimates. Our 52% FY17 year-on-year (company definition) EBITDA growth with a 20% three-year CAGR is well-supported by demand trends and augmented by strong levels of operating efficiency. The result is that our underlying EPS forecasts for FY17 and FY18 have increased by 41% and 29%, respectively. Our fair value has increased by 37% to RUB4,900.

Last updated on 02/11/2017

Industry outlook

The Russian rail-freight market has good long-term fundamentals, as an increasing portion of goods are transported by rail containers at the expense of box cars. Current 'containerisation' levels of 5% are well below Europe and the US at 14% and 18%, respectively. In recent years, however, transport and logistics in Russia have suffered due to the decline in the oil price and economic sanctions.

Last updated on 02/11/2017

Key management

Andrey Zhemchugov, Director for Capital Markets & IR
Alexander Shakhanov, Deputy Director for Capital Markets & IR

Company address

Oruzheyniy Pereulok 19
Moscow, Russian Federation
125047
United Kingdom
+7 495 788 17 17
View website