TransFin-M Announces RAS Results for 2019

30 March 2020
TransFin-M PC announced its annual results for 2019 according to the Russian Accounting Standards (RAS). Key financial indicators demonstrate solid growth and high efficiency of the business.

Here are some key figures for the year:

  • revenue amounted to RUB 66.702 billion, which is 30% higher than in 2018;
  • net profit amounted to RUB 9.095 billion, which is more than twice as much as compared with the last year’s figure;
  • retained earnings amounted to RUB 16.964 billion, also more than twice as much as in 2018.
  • equity grew 55%, reaching RUB 35.365 billion by the end of the reporting period.
The consolidated portfolio, which includes transactions by TransFin-M PC and its subsidiaries, amounted to RUB 216.2 billion. The company established a high-quality lease portfolio in 2019, aligned with the market forecasts and development trends. As of the end of the reporting period, the key segments of the lease portfolio are: railroad transport – 89% (RUB 192.3 billion); special-purpose machinery – 7% (RUB 14.6 billion); sea and river vessels – 3% (RUB 6.5 billion); other segments account for less than 1% of the company’s lease portfolio.

The results for 2019 are outstanding, with the company’s net profit exceeding RUB 9 billion and a 55% increase in equity.  This growth is caused by improvement in the interest rates and a stable quality of the leasing portfolio, combined with the company’s solid market position and high level of corporate governance.

Given the global and national economic situation, we chose to take a conservative approach to business growth last year, focusing on improving risk exposure of the portfolio instead. The company continued to develop its special-purpose machinery leasing business, gradually increasing presence in provinces, and strengthened operating activities. 

We expect our newly established rolling stock operator, Atlant, to become one of the largest railway operators in Russia this year, which will have a positive impact on TFM Group’s financial and economic performance and liquidity ratios.

TransFin-M Announces RAS Results for 2019
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