Income from operating activities amounted to RUB 185.6bn in the reporting period, which is 5.3% lower vs 2013 level. In turn, expenses decreased to RUB 204.9bn or by 1.8% to the 2013 level.
Subsidies from the federal budgets amounted to RUB 23.3 billion.
EBITDA at the end of the year totalled RUB 16.9bn which is lower than the 2013 level by RUB 5.8bn.
Loss at year end totalled RUB 0.4bn.
The decline in income flows and hence the loss is due to the drop in transfer volume in the international traffic and tight national macroeconomic situation.
However, the company took some action to cut costs and minimise loss which resulted in saving RUB 15.3bn of the Company’s budgeted costs.
Investment totalled RUB 24.5bn which is 11.1% lower than in the previous year. Investment in new rolling stock as in the previous year accounted for the main part of the programme, RUB 21.1bn or 86.1% of the entire volume.
Long-term liabilities grew from RUB 11.1 billion to RUB 15.8 billion or by 46.8%. The growth is determined by the growth of long-term loans by RUB 5.3bn.
Short-term liabilities increased to RUB 35.5bn or by RUB 2.7bn compared to 2013. The growth is determined by the growth of short-term liabilities in the loan portfolio by RUB 2.2bn due for settlement within 12 months.
|Indicators||2012||2013||2014||Growth 2014 on 2013, %|
|— income from passenger service||164.1||175.4||164.2||93.7|
|— income from other activities||18.9||20.7||21.4||103.2|
|— expenses for passenger service||190||194||189.7||97.8|
|— expenses on other activities||14.2||14.7||15.2||103.8|
|— from passenger service||–25.9||–18.7||–25.4||136.4|
|— from other activities||4.7||6.0||6.2||101.7|
|Total effect on other income and expenses||27.1||20.0||20.5||102.6|
|Subsidies from the federal budget||29.6||23.2||23.3||100.2|
|Profit (loss) before tax||5.9||7.4||1.2||16.6|
|EBITDA margin (including subsidies)||10.1||10.4||8.1||— 2.3 p.p.|
|Profit tax and other similar liabilities||3.5||3.3||1.6||49.1|
|Net profit / loss||2.4||4.1||— 0.4||—|
|Net profit margin||1.31||2.09||–0.21||—|