TAS-Logistics, a member of the TAS financial and industrial group, has increased its net income almost 3.3 times in January-June 2023 compared to the same period of 2022 – up to UAH 849.29 mln.
According to the interim statements of the company published in the information disclosure system of the National Commission on Securities and Stock Market (NCSSM), its net profit increased almost 20 times – up to UAH 199.22 mln.
The company in January-June received UAH 323.26 mln of operating profit – 2.3 times more than a year earlier, while gross profit increased more than 2.5 times – to UAH 434.56 mln.
The document notes that the company sees no reasons for a significant drop in income, despite the hostilities, but the situation with transportation requests in the second quarter of 2023 worsened due to two important factors: the ban on agricultural exports to Eastern Europe and the termination of the grain corridor in July.
“In the following years, we expect a general optimization of the number of railcars in the network and an increase in demand and price, and therefore an increase in profitability. In addition, a positive lever for the market increase should be the growth of the harvest compared to 2022,” the report said.
At the same time, it is planned to continue expanding its presence in the logistics market of Ukraine and development in the markets of neighboring countries.
“Over the past three years, the company has attracted more than 900 million UAH of investment in the formation of its own fleet of railcars, which allowed it to take a leading position among the owners of private rolling stock. According to the estimates of the management, the company ranks fourth in the number of grain cars among the private fleet of grain cars and its share among railcar operators, taking into account “Ukrzaliznytsia”, is 5.5%”, – is reported in the report.
It is specified that the company takes the first place among the owners of new grain carriages (up to 10 years) with the share of 14%, and among grain carriages with non-extended service life, with the share of 13% of the market.
The company notes that it builds stable partnership with agricultural holdings and traders on the terms of long-term cargo transportation deals.
This year, in particular, 55 flat cars, 21 tank cars have been purchased and a contract for purchase of 21 more tank cars has been concluded, the receipt of which is expected in the third quarter of this year.
At the same time TAS-Logistics prefers to purchase modern wagons with increased body volume and increased load capacity, which allows to reduce the cost of transportation of a ton of cargo and adds additional advantages in attracting new customers.
Among the competitive advantages among the rolling stock owner-operators, TAS-Logistics notes, in particular, one of the largest private car fleets, most of which consists of new cars (1,000 cars manufactured in 2018-2023); low debt load compared to competitors; provision of a full range of transportation and logistics services for the transportation of grain and oilseed cargoes.
“TAS-Logistics” was founded in 2008 and is part of the financial and industrial group “TAS” of businessman Sergei Tigipko.
According to information on its website, the company has a fleet of more than 2020 railcars, including 1,700 grain carriers, 160 gondola cars, 161 platforms and 32 tank cars. In 2017-2021, it purchased more than 1,700 freight cars from Dneprovagonmash JSC (part of the TAS group) and Krukiv VSZ. In 2022, the company bought 161 railroad platforms.
According to the financial report on the company’s website, in 2022 the net income of TAS-Logistic grew 4.4 times to 2021 – up to UAH 1 billion 630 million, net profit – more than tripled to UAH 386.5 million.
TAS Group was founded in 1998 by businessman Tigipko. Its business interests include financial sector (banking and insurance segments) and pharmacy sector, as well as industry, real estate and venture projects.
