Ovk · RUS:UWGN
Ovk — United Wagon Company — H1 2015 Earnings Presentation
12 slides from Ovk's earnings presentation, 2015
Slide 1: United Wagon Company - financial results for the first half of 2015
Research and production corporation United Wagon Company - financial results for the first half of 2015 Moscow 2015
Slide 2: High growth dynamics for UWC
High growth dynamics for UWC Commentary Revenue dynamics Revenue increased by 8 times to RUB 17 billion in the first half of 2015 18 000 17 028 16 000 This positive dynamic was driven by higher production levels, an increase in the share of 14 000 railcar sales on the market and a corresponding 12 0
Slide 3: Financial results for the production division
Financial results for the production division Commentary Revenue dynamics Revenue grew by 1.5 times year-on-year to RUB 15 015 16 000 15 billion in the first half of 2015 14 000 The production division achieved a profitable 12 000 10 568 EBITDA level in the first half of 2015, which amounted to RUB
Slide 4: Financial results of the sales division
Financial results of the sales division Commentary Revenue dynamics Revenue rose steadily in line with fleet growth to 2 250 RUB 2.2 billion in the first half of 2015 2 194 2 200 This was due to the planned expansion of the 2 150 railcar fleet, which amounted to nearly 28,000 2 100 railcars as of Au
Slide 5: Cost structure of UWC's divisions
Cost structure of UWC’s divisions Cost structure of the production division in Commentary the first half of 2015 The production division’s cost segment was stable in the first half of 2015 6,8% The main cost item in the production division was tangible assets, including rolled stock, railcar parts 1
Slide 6: UWC's working capital
UWC’s working capital Commentary Working capital structure (*) The sharp growth in inventories was due to a 807 (1 055) 8 293 change in the accounting methodology for tangible (*) 10 000 6 924 goods after shifting from sales within the company to direct sales to market 5 000 2 430 267 Starting from
Slide 7: UWC's debt portfolio as of 30.06.2015
UWC’s debt portfolio as of 30.06.2015 Commentary Structure of debt portfolio At the end of the first half of 2015, the Company’s By creditors By currency debt amounted to RUB 85.5 billion with 5.9% denominated in foreign currency 5,9% The Company’s debt burden depends on market 21,9% Sberbank 29,4%
Slide 8: EBITDA Calculation
EBITDA Calculation UWC Production Sales division division Consolidated revenue as per UWC Income + Revenue 17,028 15,015 2,195 Statement Consolidated Cost of Sales as per UWC Income - Cost of Sales 15,456 14,221 1,357 Statement Selling, general and administrative expenses - Other income/expenses 1,2
Slide 9: Income Statement
Income Statement RUB mln 1H 2014 1H 2015 REVENUE 2,129 17,028 Cost of Sales (1,438) (15,456) Depreciation and Amortization (698) (2,414) Property tax (109) (322) Raw and other materials (308) (8,473) Salaries and social security contributions (68) (1,665) Repair and maintenance costs (157) (1,069) R
Slide 10: Balance Sheet 1/2
Balance Sheet 1/2 RUB mln 2014 1H 2015 ASSETS NON-CURRENT ASSETS Machinery and equipment 70,819 67,178 Long term deferred tax assets 1,852 2,080 Intangible assets 2,839 3,023 Investments in joint ventures 159 360 Long term loans issued 1,659 793 Finance lease receivables 261 252 Other accounts recei
Slide 11: Balance Sheet 2/2
Balance Sheet 2/2 RUB mln 2014 1H 2015 EQUITY Authorised share capital 0 106 Unissued share capital 100 - Additional paid-in capital 12,429 16,159 Non-controlling interests 1 1 Retained earnings/ losses (4,969) (10,113) Reserves from foreign exchange revaluation - - Effect of acquiring a related ent
Slide 12: Cash Flow Statement
Cash Flow Statement RUB mln 1H 2014 1H 2015 Operating cash flow (1,949) 5,106 Profit/loss before tax (2,290) (5,295) Depreciation and amortization (1) 698 2,521 Impairment loss - - Foreign currency transactions gain (6) 1,585 Financial expenses 2,595 4,640 Financial income (157) (585) Increase/(decr