Highlights | 2013 | 2014 | 2015 |
---|---|---|---|
Overall performance | |||
Passenger turnover, million passenger kilometres | 107,022 | 94,554 | 86,066 |
Revenues, RUB bn | 196.07 | 185.61 | 181.23 |
Subsidies, RUB bn | 23.24 | 23.28 | 24.65 |
Expenses, RUB bn | 208.67 | 204.91 | 198.99 |
EBITDA, RUB bn | 22.70 | 16.86 | 18.56 |
EBITDA margin (including subsidies), % | 10.35 | 8.07 | 9.02 |
Net profit, RUB bn | 4.099 | –0.390 | 0.141 |
ROA (revenue + subsidies / fixed assets), RUB | 1.11 | 0.95 | 0.91 |
Liquidity | |||
Absolute liquidity ratio | 0.46 | 0.31 | 0.32 |
Current liquidity ratio | 0.88 | 0.71 | 0.67 |
Equity to total assets | 0.80 | 0.78 | 0.78 |
Margin | |||
Sales margin (including subsidies), % | 4.85 | 1.91 | 3.35 |
Return on equity (ROE), % | 2.45 | Neg. | 0.08 |
Return on assets, ROA, % | 1.94 | Neg. | 0.06 |
Liabilities | |||
Liabilities in the balance sheet total | 0.20 | 0.22 | 0.22 |
Financial leverage (interest bearing borrowings / equity) | 0.26 | 0.28 | 0.27 |
Total debt / EBITDA | 0.50 | 1.04 | 0.87 |
Total debt / revenue (including subsidies) | 0.05 | 0.08 | 0.08 |
Sales margin went up by 1.44 p.p., from 1.91% in 2014 to 3.35% in 2015 due to savings on transport services in the amount of RUB 6.0 billion, or 3.2%, which has also helped increase EBITDA.
In 2015, EBITDA increased by 10.1% year-on-year to RUB 18.6 billion (mainly due to lower operating costs and higher interest payables). EBITDA margin went up by 0.9 p.p., from 8.1% in 2014 to 9.0% in 2015.
In 2015, ROA increased to 0.06%, due to improvement of operating performance year-on-year.
In 2015, liquidity ratios generally remained flat year-on-year.
Absolute liquidity was the most improved ratio — up to 0.32 due to higher cash and cash equivalents, as well as lower current liabilities.
In 2015, the current liquidity ratio was 0.67 — down by 0.03 year-on-year due to a current assets decrease of RUB 1.7 billion, or 6.9%.
In 2015, equity to total assets remained flat year-on-year at 0.78.