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.RUB54537m
Last closeRUB3,925.00
High / Low (52 weeks)RUB4160.0 / RUB2940.0
Stock market listingMoscow, LN
Forecast net debt (RUBm)11288
Forecast gearing ratio (%)15
TeamIndustrials
SectorGeneral Industrials

Price performance

%1m3m12m
Actual20.626.615.4
Relative *15.314.312.3

* % Relative to local index

Other companies in sector Show

Company news

TransContainer PAO (TRCN.ME) Under the Watchful Eye of Investors

Tue, 26 Sep 2017 02:50:36 GMT

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

Fesco gives Hellman special mission

Tue, 02 Aug 2016 11:15:00 GMT

Aivars Taurins: "Containers with unprecedented speed are moving using ferry ...

Tue, 26 Aug 2014 13:31:51 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 28.3 9.9
2016A 21988.0 6377.0 4302.0 202.4 19.4 7.3
2017E 26708.0 9660.0 7702.0 443.2 8.9 5.8
2018E 28322.0 10210.0 7287.0 419.3 9.4 5.3

Last updated on 20/09/2017

Investment summary

Our increased three-year EBITDA CAGR of 20% for TransContainer is driven by rising rates of ‘containerisation’ in Russian rail freight, a gathering pace of economic rebound in Russia and strong operating efficiency delivered by company management. Our increased forecasts are the main driver behind an increase in fair value to RUB4,900, which implies 23% upside to current levels. The stock offers investors unique exposure to attractive structural and cyclical growth factors in Russia as well as a management team that has shown its ability to manage the business and cash flows during difficult macroeconomic conditions.

Last updated on 20/09/2017

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 06/09/2017

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
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