During the conference-call April 25, 2018 Yevgen Kravtsov told investors about financial results of 2017
Management of Ukrzaliznytsia continues its regular dialogue with the company's bondholders and other financial market participants. Acting Head of the Board of Ukrzaliznytsia Yevgen Kravtsov during the conference-call April 25, 2018 told investors about financial results of 2017. Conference-call was held jointly with Concorde Capital.
During the conference-call acting Head of the Board of Ukrzaliznytsia told about positive changes – turnaround to the profitability, liberalization of freight railcar rates, large long-term contracts signed with GE and international financial organizations, and other.
Yevgen Kravtsov noted that company demonstrates stable positive progression and results of 2017 confirm it: net income UAH 114 mln, revenue growth (+12.9%) faster than costs (+1.8%), finance result as of 2017 improved by UAH 7.4 bn. The ability of the company to continue its continuous activity has been confirmed by an independent auditor Ernst&Young.
Also he noticed that Ukrzaliznytsia is going to continue co-operation with international financial organizations to financing on both current and new projects. Along with this company the company is considering the possibility of a new issue of Eurobonds by the end of this year, and has already received approval from ministries to issue local bonds totaling UAH 2 bln.
«At this moment Standard & Poors rating agency published updated rating for Ukrzaliznytsia and its Eurobonds. According to information received, the company rating has been improved from SD to CCC+, which is undoubtedly an additional indicator of positive changes in the company's operations.» - said Yevgen Kravtsov.
In total, 20 participants attended the conference call.
More detail of company presentation can be found by following link.