Financial analysis of JSCo «Russian Railways»
This financial profile page contains financial analisys of financial reports of JSCo «Russian Railways». Financial analysis of financial reports of JSCo «Russian Railways» includes the analisys of income, income and expenses growth rates, analisys of working capital structure and annual dynamics. JSCo «Russian Railways» .
Financial reports of JSCo «Russian Railways»
This financial profile page of JSCo «Russian Railways» cosists of links to annual financial reports of JSCo «Russian Railways». Flexible and user-friendly web-instruments enable horizontal and vertical analisys of indexes of financial reports of JSCo «Russian Railways».
Liquidity and financial strength of JSCo «Russian Railways»
This financial profile page includes dynamic analisys of liquidity and financial strength of JSCo «Russian Railways». Calculation of financial strength rating is based upon JSCo «Russian railways» methodics. Moreover, it presents Cash flow statement by indirect method for JSCo «Russian Railways» with the user-opportunity to change analitical period of cash flows of JSCo «Russian Railways». Cash flow statement by indirect metod illustrates the directions of cash flows of JSCo «Russian Railways» in the certain period.
* This report is based upon web-open information and data including company annual reports and annual financial statements
Balance sheet JSCo «Russian Railways»
Profits and losses statement JSCo «Russian Railways»
*JSCo «Russian Railways»
| Foundation | 2003 |
| TIN | 7708503727 |
| PSRN | 1037739877295 |
| Web-site | http://rzd.ru |
| Specialization | Infrustructure owner |
| Holding |
- Russian Railways Holding |
JSCo «Russian Railways» is a Russian vertically integrated company, both managing infrastructure and operating freight and passenger train services. Russian Railways is part of the global top three railway companies due to: huge volumes of freight and passenger transport; high financial ratings; qualified specialists in all areas of rail transport; big scientific and technical base; design and construction of power; significant experience in international cooperation.
Russian Railways consists of 16 regional railways which covers the whole russian territory from Kaliningrad to Sakhalin. The Company includes vertically integrated filials which are responsible for managing of certain type of business activity throughout the russian railway net by regional railway branches. The most important Russian Railways filials are Central Directorate of Infrastructure (CDI), Directorate of Locomotives (CT), Center of enterprise customer service (CFTO), Central Directorate of traffic management (CD). In these circumstances the executive officers of regional railways coordinate the activity of filials regional branches on the regional railway ground.
I.Financial results review
| Units | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Revenues | mln RUB | 1 376 582,0 | 1 401 729,0 | 1 510 757,0 | 1 577 465,0 | 1 697 553,0 |
| Expenses | mln RUB | 1 317 718,1 | 1 343 160,1 | 1 427 101,1 | 1 460 221,1 | 1 557 473,1 |
| Operating expenses | mln RUB | 1 317 718,0 | 1 343 160,0 | 1 427 101,0 | 1 335 027,0 | 1 425 324,0 |
| General and Administrative expenses | mln RUB | 0,0 | 0,0 | 0,0 | 125 194,0 | 132 149,0 |
| Commercial expenses | mln RUB | 84,0 | 73,0 | 64,0 | 71,0 | 81,0 |
| Operating income/loss | mln RUB | 58 780,0 | 58 496,0 | 83 592,0 | 117 173,0 | 139 999,0 |
| Income/loss before taxation | mln RUB | 19 399,0 | -39 238,0 | 24 961,0 | 43 621,0 | 52 426,0 |
| Net income/loss | mln RUB | 740,0 | -44 078,0 | 318,0 | 6 500,0 | 17 500,0 |
| EBITDA | mln RUB | 242 489,0 | 200 603,0 | 296 567,0 | 315 615,0 | 346 283,0 |
| inc.Depreciation | mln RUB | 197 902,0 | 205 148,0 | 207 095,0 | 207 766,0 | 238 636,0 |
Comparison of income, expenses and profit growth rates
| Units | 2014 | 2015 | 2016 | 2017 | |
| Income growth rate | % | 1,8 | 7,8 | 4,4 | 7,6 |
| Expenditure growth rate | % | 1,9 | 6,2 | 2,3 | 6,7 |
| Operating expenses growth rate | % | 1,9 | 6,2 | -6,5 | 6,8 |
| Commercial and Administrative expenses growth rate | % | -13,1 | -12,3 | 195 626,6 | 5,6 |
| Operating income growth rate | % | -0,5 | 42,9 | 40,2 | 19,5 |
| Profit before tax growth rate | % | -302,3 | 163,6 | 74,8 | 20,2 |
II.Return on capital
| Units | Abbr. | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Return on Sales | % | ROS | 0,05 | -3,14 | 0,02 | 0,41 | 1,03 |
| Pretax Profit margin | % | PPM | 1,41 | -2,80 | 1,65 | 2,77 | 3,09 |
| Operating margin | % | OPM | 4,27 | 4,17 | 5,53 | 7,43 | 8,25 |
| EBITDA profitability | % | EbitdaP | 17,62 | 14,31 | 19,63 | 20,01 | 20,40 |
| Return on Assets | % | ROA | 0,02 | -0,93 | 0,01 | 0,12 | 0,30 |
| Return on Invested Capital | % | ROIC | 0,65 | -0,22 | 1,49 | 1,49 | 1,41 |
| Weighted Average Cost of Capital | % | WACC | 0,5 | 0,4 | 1,2 | -10,0 | 0,9 |
| Cost of Equity | % | Re | 0,0 | -0,3 | 0,2 | -13,4 | 0,1 |
| Cost of Debt | % | Rd | 4,9 | 4,7 | 7,0 | 6,7 | 5,5 |
| Assets | mln RUB | A | 4 587 172,0 | 4 846 744,0 | 5 055 853,0 | 5 683 860,0 | 5 962 397,0 |
| Equity | mln RUB | E | 3 540 312,0 | 3 516 208,0 | 3 563 021,0 | 4 223 153,0 | 4 300 879,0 |
| Longterm Debt | mln RUB | D | 579 154,0 | 715 711,0 | 900 427,0 | 829 096,0 | 934 814,0 |
| Invested Capital | mln RUB | IC | 4 119 466,0 | 4 231 919,0 | 4 463 448,0 | 5 052 249,0 | 5 235 693,0 |
| Net Assets | mln RUB | NA | 4 579 850,0 | 4 809 552,0 | 5 048 166,0 | 5 677 041,0 | 5 957 327,0 |
III.Working capital
| Units | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Working capital | mln RUB | -88 978,0 | 5 130,0 | -14 401,0 | -115 519,0 | -118 698,0 |
| Current assets | mln RUB | 254 573,0 | 389 447,0 | 376 564,0 | 308 234,0 | 328 817,0 |
| Inventories | mln RUB | 90 239,0 | 72 276,0 | 66 204,0 | 66 231,0 | 80 143,0 |
| Accounts receivable | mln RUB | 57 326,0 | 122 718,0 | 135 325,0 | 121 983,0 | 124 222,0 |
| Cash and cash equivalents | mln RUB | 80 231,0 | 86 097,0 | 138 114,0 | 85 130,0 | 86 591,0 |
| Curent financial assets | mln RUB | 12 350,0 | 2 813,0 | 6 957,0 | 419,0 | 1 692,0 |
| Other current assets | mln RUB | 14 427,0 | 105 543,0 | 29 964,0 | 34 471,0 | 36 169,0 |
| Current liabilities | mln RUB | 343 551,0 | 384 317,0 | 390 965,0 | 423 753,0 | 447 515,0 |
| Accounts payable | mln RUB | 297 114,0 | 305 644,0 | 342 279,0 | 374 812,0 | 384 956,0 |
| Other current liabilities | mln RUB | 46 437,0 | 78 673,0 | 48 686,0 | 48 941,0 | 62 559,0 |
Working capital turnover
| Units | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Working capital turnover | days | -22,9 | -10,9 | -1,1 | -15,1 | -25,2 |
| Current assets turnover | days | 70,5 | 83,8 | 92,5 | 79,4 | 68,5 |
| Inventories turnover | days | 23,3 | 21,2 | 16,7 | 15,4 | 15,7 |
| Accounts receivable turnover | days | 15,5 | 23,4 | 31,2 | 29,9 | 26,5 |
| Current liabilities turnover | days | 93,4 | 94,8 | 93,7 | 94,5 | 93,7 |
| Accounts payable turnover | days | 80,8 | 78,5 | 78,3 | 83,2 | 81,7 |
IV.Liquidity and financial strength
Methodology for Financial strength evaluation
sustainable
satisf.
poor
crisis
| Units | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Financial strength Rating | cat. | C2 | D | C3 | C3 | C3 |
| Financial strength Score | point | 8,25 | 6,50 | 7,75 | 8,00 | 7,50 |
| Level of financial strength | - | poor | crisis | poor | poor | poor |
| Liquidy coefficients | ||||||
| Current Ratio | - | 0,67| 1p. | 0,74| 1p. | 0,79| 1p. | 0,60| 1p. | 0,56| 1p. |
| Quick Ratio | - | 0,39| 1p. | 0,40| 1p. | 0,58| 2p. | 0,40| 1p. | 0,36| 1p. |
| Absolute Liquid Ratio | - | 0,21| 4p. | 0,16| 4p. | 0,29| 4p. | 0,17| 4p. | 0,15| 3p. |
| Indexes of financial stability | ||||||
| Financial independence ratio | - | 0,77| 3p. | 0,73| 3p. | 0,70| 3p. | 0,74| 3p. | 0,72| 3p. |
| Return indexes | ||||||
| Return on Sales | % | 0,05| 2p. | -3,14| 1p. | 0,02| 2p. | 0,41| 2p. | 1,03| 2p. |
| Resurn on Equity | % | 0,02| 2p. | -1,25| 1p. | 0,01| 2p. | 0,17| 2p. | 0,41| 2p. |
| Return on Assets | % | 0,02| 2p. | -0,93| 1p. | 0,01| 2p. | 0,12| 2p. | 0,30| 2p. |
| Indexes of economic activity | ||||||
| Accounts receivable growth rate | % | -4,20| 3p. | 114,07| 1p. | 10,27| 1p. | -9,86| 3p. | 1,84| 2p. |
| Accounts payable growth rate | % | -4,87| 3p. | 2,87| 2p. | 11,99| 1p. | 9,50| 2p. | 2,71| 2p. |
| Accounts receivable to Accounts payable ratio | - | 0,19| 1p. | 0,40| 1p. | 0,40| 1p. | 0,33| 1p. | 0,32| 1p. |
| Accounts receivable to Accounts payable turnovers' ratio | - | 0,19| 1p. | 0,30| 1p. | 0,40| 1p. | 0,36| 1p. | 0,32| 1p. |
V.Cash flow statement indirect method
| Units | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Cash at the beginning of the period | mln RUB | 113 541,0 | 80 231,0 | 86 097,0 | 138 114,0 | 85 130,0 |
| Net profit | mln RUB | 740,0 | -44 078,0 | 318,0 | 6 500,0 | 17 500,0 |
| Amortization | mln RUB | 197 902,0 | 205 148,0 | 207 095,0 | 207 766,0 | 238 636,0 |
| Revaluation and deferred taxes [+] | mln RUB | -19 532,0 | -35 013,0 | -38 579,0 | -436 412,0 | 10 738,0 |
| Decrease in Inventories | mln RUB | -5 025,0 | 17 963,0 | 6 072,0 | -27,0 | -13 912,0 |
| Descrease in Accounts receivable | mln RUB | 2 514,0 | -65 392,0 | -12 607,0 | 13 342,0 | -2 239,0 |
| Increase in Accounts payable | mln RUB | -17 215,0 | 7 163,0 | 36 635,0 | 32 533,0 | 24 072,0 |
| Changes in other working capital | mln RUB | -2 724,0 | -58 880,0 | 45 592,0 | -4 252,0 | 11 920,0 |
| Net cash used in investing activities | mln RUB | -470 960,0 | -332 726,0 | -432 615,0 | -386 327,0 | -501 042,0 |
| Net cash from financial activities | mln RUB | 189 116,0 | 249 646,0 | 128 554,0 | -61 376,0 | 153 272,0 |
| Contribution to share capital [+] | mln RUB | 92 577,0 | 52 769,0 | 118 990,0 | 53 102,0 | 67 924,0 |
| Dividends and other distrubution of net profit [-] | mln RUB | -703,0 | 9 266,0 | -7 438,0 | 522 167,0 | -5 408,0 |
| Cash at the end of the period | mln RUB | 80 231,0 | 86 097,0 | 138 114,0 | 85 130,0 | 86 591,0 |
* This report is based upon web-open information and data including company annual reports and annual financial statements