Analysis of income from transportation activities
Income from transportation activities totalled RUB 1,225.0 bln in 2014, which exceeded the plan by RUB 11.7 bln, or 1%, and signified a 1.3% increase compared with 2013.
Proportion of income from freight transportation in overall income of Russian Railways in 2014 78.9 %
Income from freight transportation
Income from freight transportation amounted to RUB 1,105.7 bln in 2014, which exceeded the plan by RUB 10.1 bln, or 0.9%. Compared with 2013, income increased by RUB 17.5 bln, or 1.6%, in 2014.
The change in income versus the previous year resulted from the following factors:
- 4.7% growth in loaded freight turnover influenced the increase in income by RUB +50.7 bln;
- a 2.5% decrease in the average revenue rate per 10 tkm led to income losses of RUB 33.2 bln due to the following main factors:
- deterioration in the freight turnover structure (RUB –37.5 bln):
- for freight classification
- (RUB –8.3 bln) due to growth in the proportion of first-class freight combined with a decline in the share of second- and third-class freight;
- for types of traffic (RUB –12.0 bln) due to a decrease in the proportion of transit freight turnover and international shipments via border crossings combined with a simultaneous increase in the proportion of less profitable freight coming through Russian ports and significant growth in distance due to the redirection of freight flows to Far East ports;
- for shipment categories growth in the proportion of block train shipments using a reduction factor vs. Price List
10–01 of up to 15% made it possible to increase the effective organisation of loaded railcar traffic and reduce the cost of sorting and processing freight by at least one technical station, however it influenced the decrease in income by RUB 17.2 bln; - applying multipliers to oil and petroleum product transportation tariffs as part of price caps (as of 9 August 2014) generated an additional RUB 7.1 bln;
- growth in the exchange rate of the Swiss franc vs. the rouble influenced the growth in income from transit shipments by RUB 2.3 bln;
- abolishment of the operation of the LRF (RUB –5.1 bln). (LRF railcars were finally returned to the management of Federal Freight Company as of July 2013).
- deterioration in the freight turnover structure (RUB –37.5 bln):
Income from locomotive traction services
Income from locomotive traction services totalled RUB 10.3 bln in 2014, or RUB 0.4 bln more than the plan (4%).
Income declined by RUB 0.7 bln, or 6.4%, versus the previous year primarily due to a reduction in the volume of services involving the delivery and removal of railcars to private railway tracks for the loading (unloading) of freight using the equipment of the consignor (consignees).
Income from long-haul passenger transportation
Russian Railways provides long-haul passenger transportation on the Sapsan, Lastochka (Desiro RUS) and Allegro trains. Income totalled RUB 9.1 bln in 2014, an amount exceeding the plan by RUB 0.6 bln (6.7%).
Income increased by RUB 0.5 bln, or 5.8%, versus the previous year.
The main factor behind the increase in income from long-haul passenger transportation on the Sapsan, Lastochka (Desiro RUS) and Allegro trains was a 2.5% increase in the number of passengers transported compared with 2013 to 3.9 mln.
The growth in the number of passengers transported is attributable to the addition of two double-decker Sapsan trains in August 2014 and the organisation of regular Lastochka (Desiro RUS) train service along the Moscow-Kursk route in June and the Moscow-Smolensk route in July 2014.
Income from suburban passenger transportation
Income from suburban passenger transportation amounted to RUB 0.9 bln in 2014.
Russian Railways provides suburban passenger transportation as a carrier in the Krasnodar Region using Desiro RUS (Lastochka) trains on the routes Tuapse- Aeroport, Tuapse-Olympic Park, Tuapse-Krasnaya Polyana and for other Olympic facilities. A total of 13.1 mln passengers were carried on suburban routes in 2014, an increase of 12.1 mln from the previous year primarily due to increased transportation numbers during the Olympic and Paralympic Games.
Income from infrastructure services
Income totalled RUB 99.0 bln in 2014, exceeding the plan by RUB 0.5 bln (0.5%), but down by RUB 2.7 bln (2.7%) compared with 2013
The change in income versus the previous year occurred for the following reasons:
- a 5% decrease in the volume of passenger transportation via Russian Railways infrastructure as measured in railcar km compared with 2013 as a result of traffic optimisation by carriers led to reduced income of RUB 4.5 bln, including a 5.6% decrease in long-haul transportation and a RUB
3-bln decline in income as well as a 3.2% decrease in suburban transportation as measured in railcar km and a reduction in income by RUB 1.5 bln in this segment; - growth in the volume of infrastructure services provided for the parking of the Company’s rolling stock not involved in the transportation process (due to a 0.8% decrease in handling volume compared with the previous year) generated additional income of RUB 1.8 bln.
Factor analysis of the decreased income from infrastructure services in 2014 compared with 2013
