Half Year 2024 Globaltrans Investment PLC Earnings Call Transcript
Key Points
- Globaltrans Investment PLC (LSE:GLTR) managed to improve its empty run ratio for gondolas to 32%, which helps reduce operational costs.
- The company increased its fleet of tank cars in operation, boosting turnover and volumes in the liquids segment.
- Despite market challenges, Globaltrans Investment PLC (LSE:GLTR) maintained stable pricing for its rolling stock compared to the end of 2023.
- Adjusted EBITDA increased by 9% compared to the first half of 2023, indicating improved profitability.
- The company's net debt is negative, standing at minus RUB50 billion as of June 30, 2024, reflecting strong financial health.
- Freight turnover and transportation volumes in the rail freight market declined by 6% and 3% respectively, impacting Globaltrans Investment PLC (LSE:GLTR)'s operations.
- The railcar turnaround time increased significantly, negatively affecting the number of trips per railcar and operational efficiency.
- The company experienced an 8% decline in consolidated revenue year-on-year for the first half of 2024.
- Operating cash costs increased by 6% due to inflationary pressures, particularly in repair and maintenance expenses.
- The Board of Directors decided to terminate the dividend policy, with no foreseeable resumption of regular dividend payments.
Dear colleagues, good day. We're happy to welcome all of you here today in our event regarding the publication of Globaltrans Group results for the first half of the year 2024.
I would like to introduce our speakers today. So Valery Shpakov, the Chief Executive Officer of the Globaltrans Group, and Dmitry Frolov, the CFO.
Now I would like to pass the floor to Valery Shpakov, the CEO.
Thank you, Mikhail. Valery Shpakov speaking. Good day to everyone, thanks for joining our call. So we will start with the presentation of our results, and then we'll answer your questions.
So I would like to start with slide 5. In slide five, you can see the situation in the rail freight transportation market. Throughout their reporting period, the first half of 2024, the market demonstrated some stable downward trends. So in the upper right-hand corner of this slide, you can see a graph showing changes in
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