H1 2019 performance and CAPEX in line with expectations; dividend outlook re-affirmed
Globaltrans Investment PLC (the “Company” and together with its consolidated subsidiaries “Globaltrans” or the “Group”; LSE ticker: GLTR) announces that its performance in the first six months of 2019 was in line with management expectations as strong demand for the Group’s services allowed for the anticipated price increases and full deployment of all new fleet acquired.
The moderate CAPEX plan for 2019, principally focused on niche projects (flat cars and specialised containers), remains on track with the majority of planned investments already undertaken. Approximately 1,000 units were delivered during the six months, bringing Globaltrans’ Total Fleet to more than 70,000 units at 30 June 2019.
The Group’s strong free cash flow generation and continued low leverage during the first half, enables Globaltrans to confirm its target of a total first-half 2019 interim dividend (regular and special) of RUB 8.3 billion, payable in September.
Globaltrans Investor Relations|
Mikhail Perestyuk / Daria Plotnikova
+357 25 328 860
For international media
+44 7799 413351
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of Globaltrans. You can identify forward-looking statements by terms such as 'expect', 'believe', 'anticipate', 'estimate', 'intend', 'will', 'could', 'may' or 'might', the negative of such terms or other similar expressions. Globaltrans wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Globaltrans does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Globaltrans, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries Globaltrans operates in, as well as many other risks specifically related to Globaltrans and its operations.