Edison Investment Research - TransContainer (TRCN) TransContainer - Strong Q2 results, led by a rise in productivity

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Edison Investment Research

TransContainer - Strong Q2 results, led by a rise in productivity

On 29 August, TransContainer announced Q218 IFRS results. The results showed further growth, with a 6% increase in revenue and 16% growth in EBITDA. We think the main point of interest is how TransContainer has continued to increase productivity by improving the ratio of â€˜profit-making runsâ€™ by its containers. The further acceleration in market container volumes in July bodes well for Q3. We have maintained our 2018 EPS but increased our DCF valuation by 2%.

04/09/2018 7 EN

Underlying

TransContainer

PJSC Transcontainer is engaged in the arrangement of rail-based container shipping and other logistics services. Rail-based transportation services primarily include arranging the transportation of its own and third-party containers by rail. Integrated freight forwarding and logistics services are service packages including rail container transportation, terminal handling, truck deliveries, freight forwarding and logistic services. As of Dec. 31, 2012, Co. owns and operates 46 container terminals along the Russian railway network, operated 17 branches in Russia, had a truck fleet of 860 units, fleet of 25,086 container flatcars and 19,425 medium-duty (3-ton and 5-ton) containers.

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RU000A0JPRX9 Moscow Exchange MICEX-RTS Russia

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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TransContainer - Strong Q2 results, led by a rise in productivity

TransContainer - Mandatory tender offer to be launched

TransContainer - Another beat, with structural and cyclical drivers

TransContainer - Q1 growth trend exceeds our expectations again

Basilea Pharmaceutica - Cresemba milestone payments continue to roll in

AAC Clyde Space - Solid start to the year with further order growth

Tinexta - Typical seasonality in Q124

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