Globaltrans Investment : Selected operational information for the year ended 31 December 2020

GLTR FY2020

Selected operational information for the year ended 31 December 2020
Terms that require definitions are marked with capital letters and their definitions are provided below in alphabetical order.
Fleet (incl. rolling stock and tank containers)
12/31/20	12/31/19	Change	Change, %
Owned Fleet
Gondola cars	45,483	45,516	-33	-0%
Tank cars	17,697	17,767	-70	-0%
Locomotives	74	75	-1	-1%
Flat cars	1,604	1,407	197	14%
Other railcars (incl. hopper cars, etc)	90	90	0	0%
Specialised containers (incl. petrochemical and other)	2,814	2,814	0	0%
Total	67,762	67,669	93	0%
Owned Fleet as % of Total Fleet	95%	96%	-	-
Leased-in Fleet
Gondola cars	164	104	60	58%
Tank cars	2,720	1,969	751	38%
Flat cars	443	466	-23	-5%
Other railcars (incl. hopper cars, etc)	79	132	-53	-40%
Specialised containers (incl. petrochemical and other)	520	380	140	37%
Total	3,926	3,051	875	29%
Leased-in Fleet as % of Total Fleet	5%	4%	-	-
Total Fleet (Owned Fleet and Leased-in Fleet)
Gondola cars	45,647	45,620	27	0%
Tank cars	20,417	19,736	681	3%
Locomotives	74	75	-1	-1%
Flat cars	2,047	1,873	174	9%
Other railcars (incl. hopper cars, etc)	169	222	-53	-24%
Specialised containers (incl. petrochemical and other)	3,334	3,194	140	4%
Total	71,688	70,720	968	1%
Total Fleet by type, %
Gondola cars	64%	65%	-	-
Tank cars	28%	28%	-	-
Locomotives	0.1%	0.1%	-	-
Flat cars	3%	3%	-	-
Other railcars (incl. hopper cars, etc)	0.2%	0.3%	-	-
Specialised containers (incl. petrochemical and other)	5%	5%	-	-
Total	100%	100%	-	-
Average age of Owned Fleet
Gondola cars	11.9	10.9	-	-
Tank cars	15.9	14.9	-	-
Locomotives	13.2	12.2	-	-
Flat cars	3.0	5.1	-	-
Other railcars (incl. hopper cars, etc)	13.4	12.4	-	-
Specialised containers (incl. petrochemical and other)	2.9	1.9	-	-
Total	12.4	11.5	-	-
Operation of rolling stock (excl. Engaged Fleet)*
2020	2019	Change	Change, %
Freight Rail Turnover, billion tonnes-km
Metallurgical cargoes	68.2	73.1	-5.0	-7%
Ferrous metals	29.7	28.0	1.8	6%
Scrap metal	2.9	3.3	-0.4	-12%
Iron ore	35.5	41.8	-6.3	-15%
Oil products and oil	19.1	22.0	-2.9	-13%
Coal (incl. coke)	42.2	33.8	8.4	25%
Construction materials	9.7	6.3	3.3	52%
Crushed stone	7.9	5.3	2.7	51%
Cement	0.3	0.2	0.1	75%
Other construction materials	1.4	0.9	0.5	54%
Other	11.2	11.8	-0.6	-5%
Total	150.3	147.1	3.2	2%
Freight Rail Turnover by cargo type, %
Metallurgical cargoes (incl. ferrous metal, scrap metal and iron ore)	45%	50%	-	-
Oil products and oil	13%	15%	-	-
Coal (incl. coke)	28%	23%	-	-
Construction materials (incl. cement)	6%	4%	-	-
Other	7%	8%	-	-
Total	100%	100%	-	-
Transportation Volume, million tones
Metallurgical cargoes	39.0	43.9	-4.9	-11%
Ferrous metals	13.8	14.9	-1.1	-8%
Scrap metal	3.0	2.9	0.1	2%
Iron ore	22.2	26.0	-3.8	-15%
Oil products and oil	18.6	21.9	-3.3	-15%
Coal (incl. coke)	14.5	11.4	3.1	27%
Construction materials	10.2	7.1	3.1	44%
Crushed stone	9.0	6.3	2.7	42%
Cement	0.2	0.1	0.1	53%
Other construction materials	1.0	0.6	0.3	54%
Other	6.6	7.3	-0.7	-10%
Total	88.9	91.6	-2.7	-3%
Average Rolling Stock Operated, units
Gondola cars	43,669	43,486	183	0%
Rail tank cars	13,550	12,968	583	4%
Locomotives	55	51	3	7%
Other railcars	210	340	-130	-38%
Total	57,484	56,845	639	1%
Average Number of Loaded Trips per Railcar
Gondola cars	23.9	23.6	0.3	1%
Rail tank cars	22.7	27.8	-5.1	-18%
Other railcars	82.3	87.0	-4.7	-5%
Total	23.8	25.0	-1.1	-5%
Average Distance of Loaded Trip, km
Gondola cars	1,898	1,834	64	4%
Rail tank cars	1,025	993	33	3%
Other railcars	269	502	-233	-46%
Total	1,681	1,591	90	6%
Average Price per Trip, RUB	36,909	45,807	-8,898	-19%
Net Revenue from Operation of Rolling Stock by cargo type, RUB million
Metallurgical cargoes	17,124	26,467	-9,343	-35%
Ferrous metals	8,908	11,141	-2,233	-20%
Scrap metal	1,398	1,901	-502	-26%
Iron ore	6,818	13,425	-6,607	-49%
Oil products and oil	19,257	21,009	-1,752	-8%
Coal (incl. coke)	8,834	9,380	-546	-6%
Construction materials (incl. cement)	1,973	3,105	-1,132	-36%
Other	3,338	5,034	-1,695	-34%
Total	50,527	64,994	-14,467	-22%
Net Revenue from Operation of Rolling Stock by cargo type, %
Metallurgical cargoes (incl. ferrous metal, scrap metal and iron ore)	34%	41%	-	-
Oil products and oil	38%	32%	-	-
Coal (incl. coke)	17%	14%	-	-
Construction materials (incl. cement)	4%	5%	-	-
Other	7%	8%	-	-
Total	100%	100%	-	-
Net Revenue from Operation of Rolling Stock by largest clients (incl. their affiliates and suppliers), %
Rosneft	25%	23%	-	-
Metalloinvest	13%	21%	-	-
MMK	14%	12%	-	-
Gazprom Neft	7%	5%	-	-
TMK	4%	3%	-	-
UGMK-Trans	2%	2%	-	-
Evraz	3%	2%	-	-
TAIF	2%	3%	-	-
SDS-Ugol	1%	0.5%	-	-
ChelPipe	1%	1%	-	-
Other (incl. small and medium enterprises)	28%	26%	-	-
Empty Run Ratio, %
Gondola cars	45%	42%	-	-
Rail tank cars and other railcars	89%	90%	-	-
Total Empty Run Ratio, %	51%	49%	-	-
Empty Run Costs, RUB million	15,799	14,752	1,047	7%
Share of Empty Run Kilometres Paid by Globaltrans, %	99%	89%	-	-
Operation of rolling stock (incl. Engaged Fleet)*
2020	2019	Change	Change, %
Freight Rail Turnover, billion tonnes-km
Metallurgical cargoes	76.7	85.2	-8.5	-10%
Ferrous metals	32.9	30.7	2.2	7%
Scrap metal	3.3	3.4	-0.1	-3%
Iron ore	40.5	51.2	-10.6	-21%
Oil products and oil	19.1	22.2	-3.0	-14%
Coal (incl. coke)	45.2	35.9	9.3	26%
Construction materials	9.8	6.4	3.4	53%
Crushed stone	8.1	5.3	2.8	52%
Cement	0.3	0.2	0.1	75%
Other construction materials	1.4	0.9	0.5	54%
Other	11.4	11.9	-0.6	-5%
Total	162.1	161.5	0.6	0%
Transportation Volume, million tones
Metallurgical cargoes	43.4	50.3	-6.9	-14%
Ferrous metals	15.2	16.5	-1.4	-8%
Scrap metal	3.3	3.0	0.3	10%
Iron ore	24.9	30.8	-5.9	-19%
Oil products and oil	18.6	22.1	-3.4	-16%
Coal (incl. coke)	16.1	12.3	3.8	31%
Construction materials	10.3	7.1	3.1	44%
Crushed stone	9.1	6.4	2.7	43%
Cement	0.2	0.1	0.1	53%
Other construction materials	1.0	0.6	0.3	54%
Other	6.8	7.5	-0.8	-10%
Total	95.2	99.4	-4.2	-4%
Specialised container segment
2020	2019	Change	Change, %
Net Revenue from Specialised Container Segment, RUB million	1,923	1,623	299.4	18%
Engaged Fleet
2020	2019	Change	Change, %
Net Revenue from Engaged Fleet, RUB million	152	202	-50	-25%
Operating leasing of rolling stock*
12/31/20	12/31/19	Change	Change, %
Leased-out Fleet
Gondola cars	68	152	-84	-55%
Tank cars	6,597	6,568	29	0%
Locomotives	0	0	0	0%
Other railcars (incl. flat, hopper cars, etc)	367	122	245	201%
Total	7,032	6,842	190	3%
Leased-out Fleet as % of Total Fleet	10%	10%	-	-
Employees
12/31/20	12/31/19	Change	Change, %
Total	1,697	1,640	57	3%
Definitions (in alphabetical order)

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*Excluding operational and financial information of the specialised container transportation business. Average Distance of Loaded Trip is calculated as the sum of the distances of all loaded trips for a period divided by the number of loaded trips for the same period. Average Number of Loaded Trips per Railcar is calculated as total number of loaded trips in the relevant period divided by Average Rolling Stock Operated. Average Price per Trip is calculated as Net Revenue from Operation of Rolling Stock divided by the total number of loaded trips during the relevant period in the respective currency. Average Rolling Stock Operated is calculated as the average weighted (by days) number of rolling stock available for operator services (not including rolling stock in maintenance, purchased rolling stock in transition to its first place of commercial utilisation, rolling stock leased out, Engaged Fleet, flat cars and containers used in specialised container transportation). Empty Run or Empty Runs means the movement of railcars without cargo for the whole or a substantial part of the journey. Empty Run Costs (a non-GAAP financial measure meaning costs payable to RZD for forwarding empty railcars) is derived from management accounts and presented as part of the "Infrastructure and locomotive tariffs: empty run trips and other tariffs" component of "Cost of sales" reported under EU IFRS. Empty Run Costs do not include costs of relocation of rolling stock to and from maintenance, purchased rolling stock in transition to its first place of commercial utilisation, rolling stock leased in or leased out, Engaged Fleet, flat cars and containers used in specialised container transportation. Empty Run Ratio is calculated as the total of empty trips in kilometres by respective rolling stock type divided by total loaded trips in kilometres of such rolling stock type. Empty trips are only applicable to rolling stock operated (not including rolling stock in maintenance, purchased rolling stock in transition to its first place of commercial utilisation, rolling stock leased out, Engaged Fleet, flat cars and containers used in the specialised container transportation). Engaged Fleet is defined as rolling stock subcontracted or otherwise engaged from a third-party rail operator for a loaded trip from the point of origination to the cargo's destination, at which point the railcar is then released to such third-party. Freight Rail Turnover is a measure of freight carriage activity over a particular period calculated as the sum of tonnage of each loaded trip multiplied by the distance of each loaded trip, expressed in tonnes-km. It excludes volumes transported by Engaged Fleet (unless otherwise stated) and the performance of the specialised container transportation business. Leased-in Fleet is defined as fleet leased in under operating leases, including railcars, locomotives and specialised containers. Leased-out Fleet is defined as fleet leased out to third parties under operating leases (excluding flat cars and containers used in specialised container transportation). Net Revenue from Engaged Fleet (a non-GAAP financial measure, derived from management accounts) represents the net sum of the price charged for transportation to clients by the Group utilising Engaged Fleet less the loaded railway tariffs charged by RZD (included in the EU IFRS line item "Infrastructure and locomotive tariffs: loaded trips") less the cost of attracting fleet from third-party operators (included in the EU IFRS line item "Services provided by other transportation organisations"). Net Revenue from Operation of Rolling Stock is a non-GAAP financial measure, derived from management accounts, describing the net revenue generated from freight rail transportation services which is adjusted for respective "pass through" loaded railway tariffs charged by RZD (included in the EU IFRS line item "Infrastructure and locomotive tariffs: loaded trips"). Net Revenue from Specialised Container Transportation is a non-GAAP financial measure, derived from management accounts, that represents the revenue generated from the specialised container operations (included in the EU IFRS line item: "Revenue from specialised container transportation") less the respective "pass through" loaded railway tariffs charged by RZD (included in the EU IFRS line item "Infrastructure and locomotive tariffs: loaded trips"). Owned Fleet is defined as the fleet owned and leased in under finance lease as at the end of the reporting period. It includes railcars, locomotives and specialised containers, unless otherwise stated, and excludes Engaged Fleet. Share of Empty Run Kilometres paid by Globaltrans is defined as the percentage of empty run kilometres paid by Globaltrans divided by the total amount of empty run kilometres incurred by the fleet operated by Globaltrans (not including relocation of rolling stock to and from maintenance, purchased rolling stock in transition to its first place of commercial utilisation, and rolling stock leased-out, Engaged Fleet, flat cars and containers used in specialised container transportation) in the relevant period. Total Empty Run Ratio is calculated as total kilometres travelled empty divided by the total kilometres travelled loaded by the rolling stock fleet operated by Globaltrans (not including the relocation of rolling stock to and from maintenance, purchased rolling stock in transition to its first place of commercial utilisation, or rolling stock leased out, Engaged Fleet, flat cars and containers used in specialised container transportation) in the relevant period. Total Fleet is defined as the fleet owned and leased in under finance and operating leases as at the end of reporting period. It includes railcars, locomotives and specialised containers, unless otherwise stated, and excludes Engaged Fleet. Transportation Volume is a measure of freight carriage activity over a particular period, measuring weight of cargo carried in million tonnes. It excludes volumes transported by Engaged Fleet (unless otherwise stated) and volumes related to the specialised container transportation business.