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            july 16, 2019

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Indiaexportnews.com

Globaltruck announces operating results for the first quarter of 2019

  16.05.2019    

Public Joint Stock Company, one of the largest FTL-trucking companies in Russia and the leader in the Ural and Siberian markets, announced operating results for the first quarter of 2019.

Key operational indicators

The average number of operated trucks in Q1 2019 grew by 221 or 19.4% y-o-y, and reached 1,360 units, a company statement said.
The total distance covered by trucks increased by 24.8% y-o-y, and reached 60.5 mln km in 2018 versus 48.5
mln km in Q1 2018.
Average monthly distance per truck in Q1 2019 grew by 4.4% y-o-y to 15.0 th. km with the loaded run ratio of
92%.

Freight rates
The average freight rate (revenue) per loaded km in Q1 2019 increased by 2.4% and amounted to RUB 34.4 compared to RUB 33.6 in Q1 2018.

Cargo Pipeline
The number of semitrailers committed to ‘Cargo Pipeline’ expedited delivery service increased from 49 at the end of 2018 to 136 at the end of Q1 2019. Average monthly distance per truck on ‘Cargo Pipeline’ amounted 22.0 th. km in Q1 2019 with the loaded run ratio of 96.6%.

Truck fleet
Group’s truck fleet in operation totaled 1,352 units at the end of Q1 2019, which represents an increase of 218 trucks or 19.2% compared to the end of Q1 2019. Average age of the fleet in operation improved to 2.8 years from 3.4 years at the end of Q1 2018. The semitrailer fleet in operation grew by 21.5% or by 260 units to 1,470
units at the end of Q1 2019 compared to 1,210 units at the end of Q1 2018.
“Following a significant truck fleet growth in 2018, we have suspended the fleet expansion as the current situation in the trucking market prevents us from receiving the expected financial returns from business growth.
At the moment we see certain positive dynamics in tariffs, but for the time being we continue to adhere to the conservative scenario.
At the same time, in the first quarter of 2019, we continued to focus on improving operational efficiency and developing promising projects, such as Cargo Pipeline, where we almost tripled our semi-trailer fleet. Although such significant project growth put some pressure on its operating performance, its profitability remains higher
than in the traditional truck services segment,” said Aleksandr Eliseev, Globaltruck Co-Founder and CEO.



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