Russian Railways cargo loading up by 3.6% y/y in 2011.

By bne IntelliNews January 17, 2012
Russian Railways (RZD) increased cargo loading by 3.6% y/y to 1.4bn tons in 2011, domestic railroad monopoly announced. To compare, in H1/11 cargo loading was up by 4% y/y to 607.7mn tons, while in 2010 RZD's cargo turnover went up by 8.8% y/y to 1.21bn tons. In 2011 RZD's domestic cargo turnover went up by 2% to 851mn tons, while international cargo turnover increased by 6% to 544mn tons. As reported, RZD announced that its investment program for 2012 is going to amount to RUB 428.4bn (USD 13.7bn). Previously, RZD's investment program for 2012-2014 was announced at RUB 1.1tn, out of which the investment program for 2012 alone was planned at RUB 411.6bn. At the same time the development plan of the company previously included average borrowings over the next three years at RUB 100bn, as the sales of shares in subsidiaries and reserves of RZD are not going to fully finance the investment program. RZD posted RAS net profit of RUB 48.5bn in Jan-June 2011. This made a 17% y/y decline. Revenues in H1/11 went up by 10.8% y/y to RUB 644.7bn.
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