Rus News Journal

The Russian Railway is considered by incomes

Railway monopoly almost on 50 % the Favorable conjuncture in the raw markets has increased net profit

and a monetization of social benefits have positively affected financial indicators of the main transport company of the country. The company gain last year has grown almost on 15 % to 750 mlrd rbl., and incomes of passenger transportations and at all on 36 % (94,5 mlrd rbl.) . Experts are assured that it not a limit and following the results of 2006 the company can improve the indicators.

yesterday Open Society the Russian railways have published the financial reporting on MSFO for last year. As it was found out, to railwaymen is to that to be glad. The Russian Railway net profit in 2005 has increased by 49 % to 114,41 mlrd rbl. company Incomes incomes of passenger transportations have grown on 14,9 % to 749,25 mlrd rbl. Thus have increased on 36,8 % and have made 94,5 mlrd rbl., from cargo - on 10,3 % to 584,7 mlrd rbl. the Profit to the taxation has made 138,11 mlrd rbl., having decreased for 47,4 %.

indicators of solvency of the company Have improved also. According to the report, the Russian Railway debt receivable has increased by 33,5 % to 15,58 mlrd rbl., and the accounts payable, on the contrary, has decreased with 77,24 mlrd to 75 mlrd rbl. This result will be reached at the expense of steady growth of volumes of transportations, efficient control operational expenses and reception of return from the enclosed investments, by increases of labour productivity, rational use of a rolling stock and material resources - mark in a press - company service.

that is interesting, Russian Railway net profit for last year on RSBU (9,7 mlrd rbl.) More than in 10 times less than the published indicator on MSFO whereas gain indicators are almost identical (748,68 mlrd rbl. on RSBU). In the Russian Railway distinction of indicators explain a difference in the sum of the added amortisation (127,8 mlrd rbl. on RSBU against 64 mlrd rbl. on MSFO), restoration of reserves under judicial claims (2,1 mlrd rbl. on MSFO), capitalisation of expenses on capital repairs (36 mlrd rbl. on MSFO).

According to the analysts interrogated daily, growth of incomes of the Russian Railway is connected with a conjuncture favorable for it. in particular, the monetization of social benefits has allowed to reduce losses from passenger transportations, and growth of tariffs for freight traffic has allowed to increase considerably net profit, - analyst IK " has told daily; finam Sergey Filchenkov. - In this plan it is possible to say that the Russian Railway has received dividends from a favorable conjuncture in the raw markets - after all the basic incomes of monopoly are connected with transportation of ferrous metals, iron and manganous ores, cement . Besides, according to experts, the Russian Railway effectively enough operated the costs - at many representatives of private business they have grown more considerably.

it is possible to expect that during the current year the company will increase net profit not less than by 30 %, - Sergey Filchenkov speaks. - Allocated daughters monopolies are focused on active attraction of investments that also can become the driver of growth of incomes of the Russian Railway . In the Russian Railway daily have informed that the forecast of financial indicators for 2006 is corrected.

EVGENIE GAVRILJUK

Open Society the Russian railways it has been formed in October, 2003. The unique shareholder of a society - the Russian Federation. For today of the Russian Railway is the largest transport company of the country and enters into a three of the largest transport companies of the world. On a Russian Railway share it is necessary about 40 % of a cumulative turnover of goods and about 40 % passazhiroperevozok. Last year the Russian Railway have sent 1,27 mlrd t cargoes and have transported 1,33 mlrd passengers.