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Russian Railways expects RUB 9 bn in dividends from subsidiaries in 2012

December 21, 2012, 4:46 UTC+3
Total revenues from the sale of subsidiaries for the year should exceed 70 billion roubles
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MOSCOW, December 21 (Itar-Tass) —— Russian Railway’s subsidiaries showed positive performance in 2012, with their revenues expected to reach 800 billion roubles and net profit 32 billion roubles.

Dividends totalling 9.1 billion roubles are projected. Total revenues from the sale of subsidiaries for the year should exceed 70 billion roubles, Valery Reshetnikov, Senior Vice President of Russian Railways, said.

According to Reshetnikov, one of the most important decisions made in 2012 was to expand the holding’s business into transport and logistics services, which should result in a significant growth in Company revenues.

“We have made significant steps in this direction. We are now completing the transaction to acquire the French logistics operator GEFCO. We have initiated the creation of an integrated transport and logistics company in the Common Economic Space and decided to establish a transportation and logistics services segment in the holding’s business structure,” Reshetnikov said.

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