The consolidated financial statements for the group of companies belonging to Russian Railways under IFRS takes into account the figures of all subsidiaries (over 150) and associated companies (170) of the Russian Railways holding company.
The holding’s revenues in 2010 rose to 1,334.24 billion roubles from 1.126.10 billion roubles in 2009, an increase of 18%. The relative increase in revenue was largely the result of the poor performance in 2009 due to the economic crisis. During 2010, the holding company successfully held its operating expenses under control, keeping their increase to 12%, which saw them rise from 1,012.75 billion roubles in 2009 to 1,135.37 billion roubles in 2010.
Measures to optimise expenditures contributed to an increase in the holding’s operating profits (before subsidies from the federal and local budgets) of 75.4% to 198.87 billion roubles in 2010 compared to 113.35 billion roubles in 2009. EBITDA (earnings before interest, taxes, depreciation and amortisation) in 2010 increased by 30% compared with the corresponding figure in 2009 and amounted to 443.62 billion roubles. EBITDA margin in 2010 was 33%, up slightly from the figure of 30% in 2009. As of 31 December 2010, TransCreditBank was removed from the holding’s consolidated figures in connection with the transfer of control over its current activities to VTB Bank. As a result, the assets and liabilities of TransCreditBank were excluded from the holding’s statements, including its liabilities to creditors and depositors, which helped improve liquidity and financial stability. As a result of significant growth in traffic in 2010 and measures to optimise costs, the holding’s net profit in the reporting period rose to 208.3 billion roubles from 121.3 billion roubles in 2009, an increase of 75%
The holding company increased its capital investment in 2010 to 413 billion roubles from 346 billion roubles in 2009, while Russian Railways capital investments amounted to 317.4 billion roubles in 2010, up from 265.6 billion roubles in 2009.
The holding is one of the largest taxpayers in Russia, paying 87.1 billion roubles in corporation tax in 2010, more than twice as much as in 2009.
Also in Russia today, City.Mobi is celebrating the success of its new guide to Moscow.
City.Mobi offers the most comprehensive mobile travel guides available, with over 800 cities in 200 countries listed. Each is developed by the City.Mobi team to combine into a single global travel directory.
Moscow.mobi is the latest in this illustrious line up, offering click to call functionality – which means no scribbling down telephone numbers.
Most entries are also linked to websites where users can quickly access more detailed information if needed.
Other key features include information on accommodation, restaurants, attractions, entertainment, nightlife, shopping, and transport.
City.Mobi guides include user reviews and traveller utilities such as a translation guide, currency converter, news and local weather guide.