Sberbank - TransContainer (TRCN) ... Ð¢Ñ€Ð°Ð½ÑÐšÐ¾Ð½Ñ‚ÐµÐ¹Ð½ÐµÑ€ - ÐžÑÐ²ÐµÑ‰ÐµÐ½Ð¸Ðµ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸ Ð¿Ñ€ÐµÐºÑ€Ð°Ñ‰ÐµÐ½Ð¾

Report

Sberbank

Aleksey Ryabushko ...

Julia Gordeyeva

11/05/2018 2 RU

Underlyings

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

Transcontainer OJSC

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US8935561006 Russia

Provider

Sberbank

Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

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Analysts

Aleksey Ryabushko

Julia Gordeyeva

Other Reports on these Companies

Edison Investment Research

TransContainer - Mandatory tender offer to be launched

Following the sale of a majority stake in TransContainer to Delo Group as a result of the planned auction (at c RUB8,680/share), there is a legal requirement for Delo Group to launch a tender offer to minority shareholders. TransContainerâ€™s Q3 results showed strong earnings growth, albeit at lower rates than previous quarters. We have slightly reduced our DCF-based valuation to RUB9,100/share.

December 10, 2019 December 10, 2019 6 EN

Edison Investment Research

TransContainer - Another beat, with structural and cyclical drivers

Both cyclical and structural factors drove strong revenue growth in H119 (adjusted revenues up 32% y-o-y, above our expectations) which, combined with efficiency gains and economies of scale, led to EBITDA growth of 67% y-o-y and net income almost doubling. We forecast growth to continue, albeit at a more moderate pace, as we expect a stabilisation in rail container transportation prices. We have significantly increased our forecasts, which drives a 33% increase in our valuation to RUB9,460/share.

September 11, 2019 September 11, 2019 6 EN

Edison Investment Research

TransContainer - Q1 growth trend exceeds our expectations again

Following TransContainerâ€™s strong Q1 results, with adjusted revenues growing by more than 30% y-o-y, we have further increased our forecasts for FY19â€“20 (revenue up 6â€“9%). The growth in Q1 was boosted by increased sales to customers located outside Russia. We have increased our valuation to RUB7,100/share on the back of higher forecasts.

May 31, 2019 May 31, 2019 6 EN

Russian Consumer - Unemployment and Income: The Outlook for 2022

In its modern history, Russia has not suffered any major spikes in joblessness. Its unemployment rate has ranged from between 4.8% and 8.3% since 2005 (versus 3.6-9.9% in the US for the same period). However, considering the sectors currently affected and companies scaling down operations in Russia, we see 1.1 mln out of the total 71 mln jobs at risk. But because this comes amid a labor shortage, which emerged in late 2021, companies are aiming to hold on to personnel, while the government is announcing extra social support measures. In a conservative scenario, the unemployment rate could go u...

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Russian Banks - What We Know at This Stage

In this note, we sum up a few thoughts on the current situation for Russia's banks.> Immediate pressure weathered... Since the initial brief depositor panic in late February, deposit flows have stabilized and even turned into net inflows as banks have hiked short-term deposit rates to around 20%, in line with the key rate.> ... and the CBR has experience of crises. The CBR is well versed in supporting the banking system through crises and has already made important moves in providing liquidity and capital forbearance. The banking sector recapitalization that we saw in 2008-09 and 2014-15 is no...

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Commodities Daily - March 24, 2022

> Oil continues to rise as CPC oil export terminal in Black Sea halts loadings and amid upbeat EIA report. In our view, Brent is likely to start stabilizing near $120/bbl today. Investors will be watching the EU-NATO summit in Brussels, where countries will discuss their ability to reduce their reliance on the Russian energy sector.> Gold advances as US Treasury yields slide. Gold rose from $1,920/oz to $1,945/oz yesterday, while the 10y US Treasury yield declined from 2.39% to 2.29%. Gold is trading near $1,940/oz as we write. Today, the market will be eyeing the preliminary March Markit PMIs...

March 24, 2022 March 24, 2022 1 EN

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Ð¢Ñ€Ð°Ð½ÑÐšÐ¾Ð½Ñ‚ÐµÐ¹Ð½ÐµÑ€ - ÐžÑÐ²ÐµÑ‰ÐµÐ½Ð¸Ðµ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸ Ð¿Ñ€ÐµÐºÑ€Ð°Ñ‰ÐµÐ½Ð¾

TransContainer - Mandatory tender offer to be launched

TransContainer - Another beat, with structural and cyclical drivers

TransContainer - Q1 growth trend exceeds our expectations again

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

Commodities Daily - March 24, 2022

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