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Russian Railways Russian Railways

Company

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Russian Railways was established by Decree of the Government of the Russian Federation of September 18, 2003 No. 585. The creation of the Company was the result of the first stage of reforming the railway industry in accordance with the Decree of the Government of the Russian Federation of May 18, 2001 No. 384.

Owners:
Federal Agency for State Property Management (Federal Property Management Agency)

Content

Revenue and Net Profit billions Ths. rub

Number of employees

Assets

Owners

+ Russian Railways (RZD)


The main function of Russian Railways is the operation of railway infrastructure owned by the state, that is, in other words, almost all railways in the country. As of August 2013, there are almost no private roads in Russia, and those that are or are planned only confirm the rule: without Russian Railways in Russia, you can build only a local branch from the field to the plant.

Russian Railways building in Moscow

As part of the reform of Russian Railways, which involved the liberalization of transportation by railways, the state monopoly lost only to the fleet of cars (and even those were only partially privatized), and retained the rest (infrastructure and locomotives themselves). The division of the industry, like the crushing of RAO UES of Russia, did not work: for 2013, rather, Russian Railways resembles Gazprom, which operates the infrastructure and fills it with gas of its own production, in this case, it leases its locomotives. It is the "railway Gazprom" that Russian Railways is called in the antimonopoly service.

According to the results of 2014, the share of Russian Railways in the total volume of cargo turnover is 86.6%. The share in passenger turnover was 26.4%.

Aktivs

The company's property was formed by adding 987 federal railway transport organizations to the authorized capital of Russian Railways at the carrying amount of assets.

Railways

Russian Railways Map 2021

Non-core assets

In 2013, Russian Railways has dozens and hundreds of non-core assets that have only a distant relation to railways. So, the monopoly owns one hundred percent "daughter" "Zheldoripoteka," which over the past 10 years has built 1.4 million square meters of housing. Mainly, this company provides housing for Russian Railways employees, but this does not limit its functions: anyone can buy an apartment from Zheldoripoteka.

Another "non-core" asset of Russian Railways is Transtelecom, which has laid a network along the railways and is now one of the largest telecom operators in Russia. By 2015, the company would like to occupy up to 15 percent of the country's broadband internet market.

The list can be continued almost indefinitely - among the assets of Russian Railways there will be companies engaged in the production of rubble, scrap metal collection, providing various kinds of tourist services, with half a thousand cafes and canteens, sports clubs and much, much more. In fact, Russian Railways remained a ministry, small (or rather, not so small: according to 2009 data, about a million people work in the company) by the state in the state.

Russian Railways regularly sells non-core assets - at the end of 2012, revenue from this type of activity amounted to almost 79 billion rubles (most of it fell on two transactions - leaving the First Freight Company and Transcreditbank, which was also sold to state-owned VTB), in 2013 it is planned at the level of 34 billion. The Zyfras are quite impressive, but at such a pace the sale will drag on for many years, especially since Russian Railways does not hide: in some cases they deliberately slow down the process of alienating property, for example, when the asset is city-forming.

Do not think that the company is engaged exclusively in asset sales, not at all participating in transactions as a buyer. In 2013 alone, monopolies passed 50 percent of the already mentioned Zheldoripoteka, as well as 75 percent of the French logistics operator Gefco. The deal amounted to 800 million euros[1].

Russian Railways Board of Directors

Main article: Russian Railways Board of Directors

Performance indicators

2023

Profit growth 2.5 times to 118.3 billion rubles

In 2023, the net profit of Russian Railways amounted to 118.3 billion rubles, which is 2.5 times more than the profit a year ago. Revenue reached 2.61 trillion rubles, an increase of 16.4% compared to 2022. Such data in accordance with Russian accounting standards (RAS) were released in early March 2024.

EBITDA in 2023 amounted to 736.9 billion rubles, which is 38.5% more than in 2022. Gross profit amounted to 556 billion rubles, an increase of 35% on an annualized basis.

Net profit of Russian Railways amounted to 118.3 billion rubles

According to Interfax, citing materials from Russian Railways, by the end of 2023, open and unused Russian Railways credit lines were measured at 1.37 trillion rubles, which roughly corresponds to the result of a year ago. The company has the opportunity to use an overdraft in the amount of up to 45 billion rubles for more efficient work with cash balances.

In 2023, freight turnover on the railway network amounted to 3.3 trillion ton-km, while a historical maximum was provided for tariff freight turnover within the boundaries of the Eastern landfill in 2023. Container transportation at the end of 2023 reached a historically record value of 7.4 million DFE, which is 14.1% more than in 2022. The volume of passenger traffic in 2023 amounted to 136.3 billion pass.-km (+ 11.0% by 2022), 1 199.6 million passengers were sent (+ 5.7% by 2022).

By the end of 2023, the total assets of Russian Railways reached 8.99 trillion rubles, which is 13.1% more than a year earlier. The results of the work of Russian Railways for 2023 include performance indicators of more than 50 branches and representative offices of the company and largely reflect the situation in the Russian economy and industry, given the close connection with the work of the largest manufacturers of products and goods in the country, the company noted.[2]

Record volume of traffic in communication with China - 161 million tons

The volume of rail traffic between Russia and China in 2023 amounted to a record 161 million tons, which is 36% more than a year earlier. The CEO RUSSIAN RAILWAY Oleg Belozerov announced this in mid-February 2024.

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More than a year ago, taking the planned indicators for 2023, we considered the growth in the volume of traffic in communication with the PRC by 10% as an optimistic estimate. The results exceeded all expectations, "he said.
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The volume of railway traffic between Russia and China in 2023 amounted to a record 161 million tons

According to Belozerov, the work of border crossings played an important role in these transportation. The new transition Nizhneleninskoye - Tongjiang has entered the stage of active operation, more than 3 million tons have already been transported through it, the head of Russian Railways said.

We are talking about a bridge across the Amur River Nizhneleninsky (Jewish Autonomous Region, Jewish Autonomous Region) - Tongjiang (Heilongjiang Province, China), which was commissioned in November 2022. Its construction was carried out as part of an agreement concluded between Russia and China in 2008. Financing at the level of more than 70% of the total budget for the construction of the Russian part of the bridge, together with Chinese partners, was provided by the Russian Direct Investment Fund. It was reported that the investors of the project were also "ВЭБ.РФ" and Russian Railways.

According to the general director of Russian Railways Alexei Shilo, the removal of covid (we are talking about the COVID-19 coronavirus pandemic) restrictions on cross-border transportation with China has a positive effect on the volume of container traffic. After the removal of covid restrictions in China, the situation should become more positive, because it was they who largely interfered with the operation of the terminals, agrees Mikhail Burmistrov, general director of Infoline Analytics. Due to the congestion of the Far Eastern ports, there is a great potential for increasing the passage of goods through land terminals, the expert believes.[3]

Growth in the number of traffic by 5.4% to 1.2 billion passengers

In 2023, Russian Railways transported almost 1.2 billion passengers, which is 5.4% more than in 2022. The company published such statistics on January 9, 2024.

As reported on the Russian Railways website, in 2023, 1.07 billion passengers were sent from stations and stations as part of suburban traffic, which is 4.6% higher than the result of a year ago. Passenger traffic on long-distance trains increased by 12.7% and reached 122 million people.

Russian Railways transported almost 1.2 billion passengers

According to Russian Railways' own data, passenger turnover at the company in 2023 increased by 11% compared to the previous year and amounted to 136.2 billion pass.-km, including in suburban traffic - 33.1 billion pass.-km (+ 5.3%), in long-distance travel - 103.1 billion pass.-km (+ 12.9%).

The carrier also cited data according to which 4.9 million people were transported by long-distance trains on the infrastructure of Russian Railways during the New Year holidays from December 29, 2023 to January 8, 2024. This is 6.8% more than in the same period of the New Year holidays last year, and by 8% - the pre-pandemic (we are talking about the COVID-19 coronavirus pandemic) period (2019/2020), when passenger transportation was record.

The peak departure date for passengers was December 29, 2023. On this day, 495 thousand passengers left the stations and stations. For their transportation, a record number of trains sent on the same day were involved - 741.

According to Russian Railways, in December 2023, 97.8 million passengers used the company's services, which is 3.6% more than in the same period of the previous year.

In December 2023, passenger turnover amounted to 9.9 billion passenger-kilometers (+ 11%), including 2.6 billion passenger-kilometers (+ 3.4%) in suburban traffic, and 7.3 billion passenger-kilometers (+ 14%) in long-distance traffic[4] said[5]

Railway freight transportation in Russia decreased

Railway freight transportation in Russia in 2023 decreased by 0.2% compared to 2022 and reached 1.23 billion tons. This was reported to Russian Railways on January 9, 2024. Read more here.

2022

Cargo loading station up to 109 million tons in February

Loading into the railway of the Russian Railways network increased by 2.1% YoY to 109.1 million tons - this is the maximum growth rate from January 2022. However, if we compare with the maximum cargo turnover of 119 million tons in March 2008, over 15 years a decrease of 8.5%.

According to Spydell Finance for February 2023

Growth of freight turnover with China by 28% to 123 million tons

In 2022, the Russian Railways (RZD) transported the maximum volume of cargo in the entire history in the eastern direction - 276 million tons. This is 3.3% more compared to 2021, said Deputy Head of Russian Railways Alexei Shilo in mid-February 2023. According to him, the record was also the transportation of goods in communication with China - 123 million tons (+ 28%).

Shilo also cited data according to which coal exports to the east reached 101.1 million tons, an increase of + 0.5% compared to 2021. Freight transportation increased by 42% in communication with Turkey, including through the ports of the Azov-Black Sea basin, as well as by 65% along the North-South international transport corridor (MTK).

Freight transportation on the railway network in communication with China in 2022 increased by 28%

After the sanctions imposed due to the military special operation of the Russian Federation in Ukraine, difficulties arose in sending goods in a number of directions, but the Chinese direction remained stable. This year, there was a sharp increase in container traffic in the direction of ports and border crossings of the Far East.

Earlier, Russian Railways reported that in 2022, cargo transportation through the Eastern landfill amounted to 148.8 million tons, which is almost 5 million tons more than the current transportation indicators of the landfill. At the same time, the company plans to increase the carrying capacity of the Eastern landfill (BAM and Transsib) to 173 million tons by the end of 2023 and transfer more than 160 million tons.

The growth in transit container traffic from China to Europe through the territory of Russia in 2022 was replaced by a fall. According to Alexei Shilo, in 9 months of 2022, container transit through the Russian Railways network decreased by 17.6%, including in the China-Europe-China message by 35%. For comparison: from January to September 2021, transit transportation of goods in containers by rail from China to the EU through the territory of Russia increased by 47% compared to the same period in 2020 and amounted to 568,700 TEU (equivalent to a 20-foot container).[6]

Freight transportation on railways in Russia for the year decreased by 3.8%

Freight transportation by rail in Russia in 2022 decreased by 3.8% compared to 2021 and amounted to 1.23 billion tons. This was reported to Russian Railways in January 2023. Read more here.

Passenger transportation increased by 7.8%, but did not reach pre-pandemic indicators

Passenger transportation by rail in Russia in 2022 increased by 7.8% compared to 2021 (up to 1.136 billion people), but did not reach pre-pandemic indicators. The COVID-19 coronavirus pandemic began in 2020. Regarding 2019, the passenger traffic of the railway (then it was measured by 1.2 billion passengers) in 2022 decreased by 5.3%, according to Russian Railways data released on January 9, 2023.

According to Vedomosti, citing company statistics, long-distance transportation increased the most in 2022 - by 17.8% to 108.3 million people. This is due, among other things, to the closure of 11 airports in the south and in the central part of the country after the start of a special military operation of the Russian Federation in Ukraine: to meet the demand for transportation in the southern direction, Russian Railways appointed additional trains during the year.

Passenger turnover in Russia increased in 2022

Independent industrial expert Maxim Shaposhnikov adds that the achievement of 2019 indicators, among other things, was prevented in 2022 by the "total drop in disposable incomes of citizens."

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The failure of Russian Railways to achieve dock-like indicators in the volume of passenger transportation by the end of 2022 is due to the preservation of a generally difficult socio-economic situation, "agrees Mikhail Shirybov, a leading expert analyst at the Institute for Problems of Natural Monopolies (IPEM).
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Pavel Ivankin, President of the Transportation and Infrastructure Research Center, recalls that this year Russian Railways has increased the number of passenger trains not only to the south, but also in other directions, in particular, the geography of tourist trains has expanded. When assessing the dynamics of passenger transportation, in his opinion, it is also necessary to take into account the insignificant volumes of international passenger traffic in 2022 "due to foreign policy reasons."

Passenger turnover on the Russian Railways network in 2022 increased by 18.8% compared to 2021 and reached 122.9 billion passenger-kilometers, including in suburban traffic - 31.4 billion pass.-km (+ 8.5% compared to 2021), in long-distance travel - 91.5 billion passenger-kilometers (+ 22.8%).

Suburban traffic in 2022 accounted for 1.027 billion passengers, which is 6.8% more than a year ago.[7]

Take-off of transportation of rare earth metals from China to the EU

The main railway route for freight trains passes through the territory of Russia, which carry rare earth metals from China to the EU, necessary in the production of microchips, electronics and other modern military equipment.

EU data shows that Russian railways are a key conduit for strategic metals. China supplies more than 90% of the volume of rare earth metals used in the EU. For nine months of 2022, the volume of railway supplies through Russia increased to 36 thousand tons, which is twice as much as for the entire 2021. At the same time, raw materials were transported, among other things, by Russian Railways trains, despite the company's inclusion in the EU sanctions list.

2021: Revenue growth by 11% to RUB 2.5 trillion

According to the results of 2021, Russian Railways revenues amounted to more than 2.5 trillion rubles, an increase of 11% compared to 2020 (according to international financial reporting standards). The state-owned company received a net profit of 50.7 billion rubles, while in 2020 there were net losses of 6.3 billion rubles (although other losses appeared in the annuity for 2020 - 52.9 billion rubles; the reason for the revision of the numbers is not named). Such data for 2021 were released at the end of March 2022.

Russian Railways revenue for the year rose by 11%

In 2021, Russian Railways revenues from freight transportation and access to infrastructure increased by 8% - to 1.6 trillion rubles. Revenues from passenger traffic increased significantly - by 43.7%, to 223.7 billion rubles. Operating expenses in 2021 increased by 11.4% and reached 2.4 trillion. rubles. EBITDA in 2021 rose 1.2 times and amounted to 503.82 billion rubles.

As of December 31, 2021, the volume of long-term borrowed funds of Russian Railways amounted to 1.32 trillion rubles (as of December 31, 2020 - 1.32 trillion rubles), short-term - 289.99 billion rubles (as of December 31, 2020 - 298.5 billion rubles).

By the end of 2021, the operating length of Russian Railways was 85.6 thousand km, the share in the cargo turnover of the Russian Federation - 47.2%, in the passenger turnover - 25%. Russian Railways operated about 20 thousand locomotives, through subsidiaries they own 145.2 thousand freight cars, 18 thousand long-distance passenger cars. Commuter service was operated by 24 commuter passenger companies.

As of December 31, 2021, the authorized capital of Russian Railways was measured at 2.56 billion ordinary shares and 150 million preferred shares with a par value of 1 thousand rubles each.[8]

2020

Combined revenue of Russian Railways - 13,685,367 thousand rubles

At the end of 2020, Russian Railways reduced revenue by 2% - to 13,685,367 thousand rubles Data include the combined revenue of four Russian Railways insourcing companies with the following turnover for 2020: Infotrans Industry Service Company LLC (2,626,758 thousand rubles), JSC (NIIAS 6,250,612 thousand rubles), (CRF 4,272,372 thousand rubles), "" (Russian Railway technology 535,625 thousand rubles) In the ranking, " TAdviser "The largest IT insourcing companies in Russia Russian Railways took third place. In 2019, the same figure was 13,944,228 thousand rubles.

Revenue decrease by 9% to RUB 2.27 trillion, loss of RUB 52.9 billion

According to IFRS, the net loss of Russian Railways in 2020 amounted to 52.9 billion rubles against profit in 2019. The reason for this result is the unprofitability of the passenger segment. Russian Railways revenues against the background of the COVID-19 pandemic in 2020 decreased by 9.1% compared to the level of 2019 and amounted to 2.279 trillion rubles. Revenues from freight transportation and access to infrastructure, which are included in this value, decreased by 4.2% (in comparable conditions, excluding Transcontainer indicators for 2019 - by 2.2% with a drop in loading by 2.7%).

Revenues from passenger traffic in the context of anti-coronavirus measures fell by 41.7%. Revenues from the provision of logistics services - by 8.1%. Operating expenses decreased by 4.1%. They amount to 2.252 trillion rubles. Russian Railways also noted that the investment program of the holding in 2020 was implemented in the amount of more than 717 billion rubles. This is the maximum since the creation of Russian Railways.

Informatization and Digital Technologies

Main article: Information technologies in Russian Railways

Russian Railways operates one of the largest information systems in the world and TAdviser closely monitors its development.

Digital Transformation Strategy

Main article: Strategy for the digital transformation of Russian Railways

IT Insourcing in Russian Railways

Main article: IT insourcing in Russian Railways

Quantum technologies

Main article: Quantum technologies in Russian Railways

Unmanned trains in Russian Railways

Main article: Unmanned trains in Russian Railways

History

2023

Development of an investment program for 11 trillion rubles until 2030

JSC Russian Railways (RZD) has developed an investment program of 11 trillion rubles until 2030. First Deputy Prime Minister Andrei Belousov, who oversees the transport industry in the Government of the Russian Federation, spoke about this in mid-December 2023. According to him, the main directions of development of the railway industry included in the document were:

Russian Railways developed an investment program for 11 trillion rubles until 2030
  • reorienting freight flows for the benefit of all shippers;
  • ensuring the transportation of passengers, where "it is important to find a balance between freight and passenger transportation, and the transportation of certain types of goods";
  • technological independence. According to Belousov, the country's railway complex should rely on its own Russian developments and solutions.

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All indicated directions will be reflected in the financial plan and investment program of Russian Railways in the period until 2030, - said the First Deputy Prime Minister at the opening of the IV Railway Congress in mid-December 2023.
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The Ministry of Economic Development proposes to direct the funds of the NWF to finance the deficit of the Russian Railways investment program until 2030, since, as noted in the department, the tariffs of the monopoly in 2024-2030 will grow more slowly than inflation. This initiative, according to the ministry, will reduce the costs of shippers, specified in the explanatory note to the document. But with the growth of the Russian Railways tariff slower than inflation, the deficit of own and budgetary funds (including funds from the NWF) to finance the investment program of Russian Railways may amount to about 40% (or 11-13% of revenue), the Ministry of Economic Development notes. Borrowing and additional funds of the NWF will fill the deficit. It is not clear how much funds the NWF Ministry of Economic Development proposes to direct to finance the deficit of the monopoly's investment program by December 2023. [9]

Hiring convicts

In November 2023, it became known about the decision of Russian Railways to hire convicts of forced labor and foreign citizens. As the deputy general director of the company Dmitry Shakhanov clarified, first of all, Russian Railways needs such workers in hard-to-reach areas of the Trans-Baikal Territory.

According to Shakhanov, Russian Railways has already begun interaction with the Federal Penitentiary Service on the issue of employment of those convicted of forced labor. At the same time, the company understands all the risks of such people, but considers this an additional opportunity.

Russian Railways decided to hire convicts of forced labor and foreign citizens

The second option to fill the personnel deficit may be to attract foreign citizens. Although here, as Shakhanov noted, there are a number of problems with their involvement, including the fact that it concerns wages in terms of rubles. The need for such employees will be determined in the context of specific enterprises.

As the deputy head of Russian Railways noted, by November 2023, all Russian industry and all companies have to work in unprecedented conditions.

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In a different way, except for personnel hunger, these processes cannot be called, "Shakhanov emphasized, adding that there are no free personnel on the market, and the priority for personnel divisions is to attract personnel.
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The reasons for the shortage of labor, in his opinion, lie in the demography and active development of industry, including defense. The top manager stressed that the situation leads to a "race" of wages.

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In reality, there is a "race" of wages. This process, of course, needs to be stopped, and at the state level, he said.
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To attract and retain employees, Russian Railways use such methods as changing corporate culture, increasing wages, efficiency in the selection and training of personnel, improving social support, Shakhanov explained.[10]

Additional capitalization from the state for 162 billion rubles

The Russian government will capitalize on Russian Railways (RZD) for 162 billion rubles. This was announced in early November 2023 by the Minister of Transport of Russia Vitaly Savelyev at a meeting of the Cabinet.

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Russian railways will ensure a record implementation of the investment program in the amount of 1.2 trillion rubles. At the same time, it should be noted that more than 90 billion rubles are ahead of the next years, Savelyev said.
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The Russian government will capitalize on Russian Railways for 162 billion rubles

According to him, the increase in the authorized capital of Russian Railways by 162 billion rubles will take place before the end of 2023 in order to form additional sources of investment. At the same time, it is possible to use 45.5 billion rubles by decision of the government from 2024 for investment in 2023, he added.

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These funds will be used to further implement the project for the development of the Central Transport Hub, quantum communications and the purchase of new modern rolling stock, the minister explained (quoted by Interfax).
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The formation of the investment program for 2024 was based on the forecast parameters of the socio-economic development of Russia. All indicators of Russian Railways are planned with growth. Thus, loading for the next year is estimated at 1.265 billion tons (+ 1.7% to the level of 2023). Cargo turnover will amount to 3.4 trillion tkm (+ 3.4%). In addition, further growth of passenger turnover to 128 billion pass.-km (+ 1%) is predicted.

230 billion rubles are planned for the renewal of rolling stock. It is planned to purchase over 500 locomotives, more than 280 cars of electric trains "Lastochka" and other motor-car rolling stock, which, in turn, will ensure the employment of the complex of domestic engineering. The investment program also includes funds for the implementation of a program to update the infrastructure complex, within which more than 5.5 thousand km of track will be repaired.[11]

Russian Railways investments for 20 years reached 9.3 trillion rubles

Over 20 years of operation, Russian Railways investments reached 9.3 trillion rubles. Oleg Belozerov, CEO of the company, spoke about this in early October 2023.

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We have been going with a very serious increase in recent years. They bought almost 21 thousand new passenger cars in 20 years. Purchased about 9.5 thousand locomotives. The Zyfras are grandiose, - said the head of Russian Railways in an interview with RIA Novosti.
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Russian Railways investments for 20 years of operation reached 9.3 trillion rubles

According to him, in 2023 alone, Russian Railways invested about 1.2 trillion rubles, and for 2024 the company is preparing an investment program for 1.3 trillion rubles.

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General opinion: if there is an opportunity, we need to be supported as much as possible so that we, in turn, do not restrain the economy, "Belozerov added.
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As noted by RIA Novosti, the capital expenditures of Russian Railways for 2023 initially amounted to over 1.07 trillion rubles. It was a record volume. The investment programs of the state monopoly, created in 2003, in previous years did not exceed this bar.

In early October 2023, Oleg Belozerov also said that the length of the main tracks of the Russian railways is about 86 thousand kilometers, but if we take the expanded length, it is 127 thousand kilometers.

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For example, we are building second tracks on the BAM and Transsib. Along the total length of the main paths, we do not grow much, but along the unfolded length, growth is very noticeable. From the new - we have built approaches to the Crimean bridge, bypassing Ukraine, a unique road to the mountain cluster in Sochi and much more, - he listed.
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Belozerov also noted that Russian Railways regularly break USSR records and see that the demand for transportation by rail exceeds the capabilities of infrastructure.

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We regularly beat record figures from the time of the Soviet Union. We have higher cargo turnover, speed and a number of other indicators. We climbed to the top positions in the world ranking of railways. Russian railways today are the most loaded in the world, occupy the second place in terms of cargo turnover, the third place in terms of length, he added.[12]
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Allocation of 20 billion rubles for railways to the ports of the Azov-Black Sea basin

Russian Railways allocate 20 billion rubles for railways to the ports of the Azov-Black Sea Basin (ACB). This was announced on July 10, 2023 by the deputy head of the company Andrei Makarov. According to him, we are talking about funds for 2023, and their volume is more than expenses for 2022 (as far as he did not specify).

According to Makarov, by July 2023, the carrying capacity of railway approaches to the ports of the ASB is 125 million tons against 100 million tons two years earlier. By 2025, the carrying capacity should reach 131 million tons per year, and by 2030 - 150 million tons.

Russian Railways allocate 20 billion rubles for railways to the ports of the Azov-Black Sea basin
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This is the target indicator of the ACB development program until 2030, which is currently being developed by our institutes, - added a top manager of Russian Railways.
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He noted that the holding has already modernized the Tikhoretskaya station of the North Caucasus Railway, the throughput capacity of the section increased by 27% compared to 2022. The holding continues to modernize other sites.

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We work on Timashevskaya, we work on Privolzhskaya, according to Maxim Gorky, we work on Volzhsky at stations in order to additionally take the measures that we have remaining on the ASB in order to complete them, - explained Makarov (quote from TASS).
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The source Businessman"" in the market notes that the planned volume of 150 million tons by 2030 will not be enough. Already by July 2023, according to the interlocutor, about 180 million tons are needed and at least 200-220 million tons per year by 2030.

According to the head of Infoline-Analytics Mikhail Burmistrov, the volume of traffic through the ports of the ASB will grow faster than predicted before the start of the special operation. He notes that there are now serious infrastructure problems on the approaches to the ports of the south. One example is restrictions on the export of coal from Taman and on the export of containers from Novorossiysk. Demand for transportation is increasing due to the growth of freight traffic, passenger traffic and demand for export and import transportation through southern ports.[13]

2022

The government approved a large-scale repair of the infrastructure of Russian Railways for 7.6 trillion rubles

At the end of December 2022, the government approved a program to bring railway tracks into a "regulatory state," the cost of which, taking into account the purchase of equipment, should amount to 7.6 trillion rubles in 2023-2035.

As Kommersant writes with reference to the corresponding document, the program involves the overhaul of 82.2 thousand km of the railway track. More than half will fall on the North-West landfill (44.2 thousand km). It is planned to repair 15.5 thousand km at the Southern training ground, 22.6 thousand km at the Eastern training ground. It is also planned to reconstruct more than 4 thousand artificial structures.

Investments, taking into account the costs of 2022, but excluding investments in travel equipment, are estimated at 6.6 trillion rubles. From 2023, and taking into account track equipment, this figure will amount to 7.6 trillion rubles. Russian Railways confirmed to the publication that the program was approved by the authorities.

At the same time, it is noted that in the period from 2023 to 2035, about 3.8 trillion rubles will be spent on major repairs of tracks, about 2.6 trillion rubles - on the reconstruction of artificial structures and the improvement of the roadbed, and another 1.1 trillion rubles are planned to be invested in updating the fleet of track and road construction equipment.

The Russian government approved a plan for the repair of the infrastructure of Russian Railways for 7.6 trillion rubles

The program for the phased withdrawal of the Russian Railways track complex to the regulatory level until 2035 notes that all work should be financed by the monopoly, but there is no detailed financing plan.

The head of Infoline-Analytics, Mikhail Burmistrov, believes that the main question is how much Russian Railways is able to implement such large-scale plans without prejudice to key projects, primarily the Eastern landfill, that is, to mobilize labor resources, equipment, and so on. The distribution of work by direction in the short term would be advisable to adjust, he believes: now the issues cause insufficient attention to financing on approaches to the ports of the south, where the work should be intensified, while in the north-west they can be attributed to a later date.[14]

Mishustin approved the investment program of Russian Railways at 1.07 trillion rubles

In November 2022, the Government of the Russian Federation approved the investment program of Russian Railways for 2023 in the amount of 1.074 trillion rubles, which is almost a third more than in 2022. As Vedomosti writes with reference to the press service of the Cabinet, the government apparatus approved the main parameters of the financial plan and the investment program of the monopoly, and the board of directors of the company will accept them.

Transport Minister Vitaly Savelyev listed the main areas of investment in 2023. According to him, 440 billion rubles, or more than 40% of the investment program, are provided for the implementation of projects of a comprehensive plan for the modernization and expansion of the main infrastructure, of which 250 billion rubles will be allocated for the development of the second stage of the Eastern landfill.

Russian Prime Minister Mikhail Mishustin

In 2023, 350 billion rubles are relied on railway infrastructure renewal projects, of which 160 billion rubles will be allocated for the repair of more than 4.8 thousand km of tracks. Funds for the purchase of rolling stock have been increased 1.5 times relative to previously approved parameters and will amount to more than 202 billion rubles.

Another 15 billion rubles will have a contribution to the authorized capital of the Federal Passenger Company (a subsidiary of Russian Railways engaged in long-distance trains) for the purchase of 225 passenger cars, almost 9 billion rubles for social development projects.

Russian Prime Minister Mikhail Mishustin drew attention to the fact that railway transport is a strategic industry that "contributes to the growth of the national economy, contributes to an increase in trade turnover and the loading of domestic industry, and the expansion of production cooperation."

{{quote 'Russian Railways is one of the largest customers for small and medium-sized businesses, creates additional jobs in mechanical engineering, mining, manufacturing, as well as in the field of information technology, - said the head of the Cabinet[15] }}

Investment program in 2023-2025 will exceed 3 trillion rubles

The investment program of Russian Railways in 2023-2025 will exceed 3 trillion rubles. This became known on October 18, 2022.

{{quote 'To finance priority investment projects, the volume of the Russian Railways investment program this year will amount to over 800 billion rubles. For the next three years, its size will total more than 3 trillion rubles, which will also help the development of related industries and enterprises that ensure the production and supply of necessary products, - said Prime Minister RFMikhail Mishustin at a meeting on the development of railway infrastructure in the Russian Federation. }}

Russian Railways investment program in 2023-2025 will exceed 3 trillion rubles

On October 12, 2022, the Board of Directors of Russian Railways approved an adjusted investment program for 2022 in the amount of 847 billion rubles, it is additionally planned to finance the modernization of locomotives, the renewal of track infrastructure and motor car rolling stock.

According to the Prime Minister, in the context of unprecedented sanctions, the government's focus is on the creation of new transport routes, primarily corridors of the Eastern and Azov-Black Sea directions, as well as the international North-South.

{{quote 'To build new export-import logistics, the government has formed a comprehensive plan of measures and projects, which is aimed at building high-tech infrastructure. All road maps are designed until 2030 with a total funding of over 4.5 trillion rubles, including about 300 billion from the federal budget, - said Mishustin. }} He added that according to the conservative version of the forecast, the volume of cargo traffic by all types of transport in the North-South direction will grow over this period by 135% compared to the level of 2021, to about 32.5 million tons, in the Azov-Black Sea direction - by almost 70%, and will amount to about 300 million tons, and in the eastern - will increase by a quarter, reaching about 350 million tons.[16]

The Cabinet of Ministers increased the authorized capital of Russian Railways by 22 billion rubles

In August 2022, Prime Minister Mikhail Mishustin signed an order that increased the authorized capital of Russian Railways (Russian Railways) by 21.88 billion rubles. The build-up will include:

  • 18.3 billion rubles by offering 18.3 million additional preferred shares of type B with a nominal value of 1 thousand rubles per share, which are to be used for the development of the infrastructure of the Central Transport Hub;
  • By 3.58 billion rubles by placing 3.6 million additional ordinary shares worth 1 thousand rubles. Of these, 2.05 billion rubles - for the reconstruction of the Lianozovo point of the Moscow central diameters (MCD-1); 1.5 billion rubles - for transport services for MTsD-4; 0.03 billion rubles - for a pedestrian crossing through the railway line to Vnukovo airport.

The Cabinet of Ministers increased the authorized capital of Russian Railways

According to the Russian Railways website, as of April 19, 2022, the authorized capital of the company amounted to 2 trillion 723,302,181 billion rubles, and was divided into 2 billion 573 million 302 thousand 181 ordinary and 150 million preferred shares with a par value of 1000 rubles each.

In March 2022, Izvestia wrote that more than 1 trillion rubles will be allocated from the federal budget for the implementation of priority measures to support the Russian economy. One of the big spending items is transport. It is planned to allocate 250 billion rubles for the additional capitalization of Russian Railways to support the implementation of the investment program and digitalization, another 25 billion rubles will go to help airlines, including subsidizing lending, leasing payments and current activities.

According to Vedomosti, the Ministry of Economic Development initiated a discussion of the schedule for the development of a new system of railway tariffs and on August 9, 2022 held a meeting of the committee on tariff regulation of the Consumer Council on the activities of Russian Railways.[17]

2021

Third place in the ranking of the largest Russian companies in terms of capital investments

In November 2022, Forbes magazine published a rating of the largest Russian companies in terms of capital investments for five years - 2017-2021. During this period, the rating companies invested a total of almost 42 trillion rubles. Read more here.

The government approved the investment program of Russian Railways for 3 trillion rubles

The Russian government at a meeting on December 2, 2021 approved the investment program of Russian Railways for 3 trillion rubles. It is designed for three years.

According to the financial plan of Russian Railways, the company will spend 1.02 trillion rubles in 2022, 1.14 trillion rubles in 2023 and 1.1 trillion rubles in 2024.

The volume of the Russian Railways investment program operating by the beginning of 2021 until 2023, approved at the beginning of 2021, is about 2.3 trillion rubles, including 731.6 billion rubles for 2021, 807.4 billion rubles for 2022 and 760.6 billion rubles for 2023.

The government approved the investment program of Russian Railways for 3 trillion rubles

Russian Prime Minister Mikhail Mishustin called Russian Railways an entire industry important for the economy and infrastructure development of the regions. According to him, for the first time, railway workers will receive more than 3 trillion rubles of funds, however, the tasks facing them are large-scale.

Among the priority, the Chairman of the Government of the Russian Federation named the continuation of work within the framework of the eastern corridor project, which includes BAM and Transsib. Also in the plans to create a northern latitudinal passage for the development of transport infrastructure in the Arctic, updating the railway connection of the central transport hub and a number of other directions.

File:Aquote1.png
Particular attention will be paid to the quality of rolling stock. Passengers must ride in comfortable, modern carriages with all amenities, including access to digital services, be it long-distance routes or commuter trains. In addition, it is important to continue the repair and renewal of railway tracks, the construction of bridges and other facilities, the prime minister listed.
File:Aquote2.png

Earlier, the government published a draft resolution on the allocation of subsidies to Russian Railways of 140 billion rubles in 2025-2026. By allocating funds for operating activities in the future, the government is replenishing the company's EBITDA and the ratio of debt with it in the present, which will allow Russian Railways to borrow additional funds in 2022 to cover the deficit of the investment program.[18]

Construction of a new headquarters for 127 billion rubles

On February 25, 2021, ВЭБ.РФ announced that the state corporation had been appointed the organizer of a syndicated loan for the construction of a new headquarters of Russian Railways.

We are talking about a multifunctional complex, which should be built on the territory of the Riga freight yard in Moscow. The expected amount of financing for the public and business part of the project will be about 127 billion rubles.

There are already interested banks under this syndicated loan, "for which it is important to organize this project through the mechanism of the" Project Financing Factory. " This mechanism implies that the syndicate of creditors, organized by the state corporation, will take on 80% of the financing, that is, 101.6 billion rubles.

Russian Railways will be engaged in the construction of a new headquarters for 127 billion rubles

The total building area will be 457.1 thousand square meters. m, the project will be erected on the territory of the Riga freight yard in Moscow. The new public and business district will include objects of culture, sports, education, modern formats of office space and trade and recreational areas, the state corporation noted ВЭБ.РФ.

File:Aquote1.png
The construction of the headquarters of Russian Railways will be the largest project for the development of the urban area within the framework of the Project Financing Factory. ВЭБ.РФ, as the operator of this government program, not only selects investment projects for participation in the program, but also is one of the participants in the syndicate, "said Nikolai Tsekhomsky, First Deputy Chairman - Member of the Board of the ВЭБ.РФ.
File:Aquote2.png

According to him, the project will make it possible to turn the forecourt into a modern urban space, which is consonant with the strategic vector of ВЭБ.РФ for the development of the urban economy.

On the part of Russian Railways, the project is supervised by the deputy general director of the state-owned company Alexander Plutnik, who previously headed the Дом.РФ company. Construction of the complex is scheduled to begin in 2022.[19]

2020

Russian Railways chief information officer Yevgeny Charkin was promoted to deputy general director of the company

In December 2020, Yevgeny Charkin, who since 2015 served as director of IT for Russian Railways, was appointed deputy general director of the company by a decision of the board of directors. Read more here.

The investment program of Russian Railways in 2020 will be reduced by 200 billion rubles due to a decrease in design costs

The investment program of Russian Railways in 2020 will be reduced by 200 billion rubles by reducing design costs, Interfax reports.

Initially, financing was supposed to be 820 billion rubles.

The reduction in investments, first of all, affected projects where it is possible to move the timing of their implementation and not lay off staff.

The company will also continue to carry out construction work on projects implemented on behalf of the Government of the Russian Federation, including the modernization of the BAM and Transsib, in compliance with measures that ensure the protection of workers and employees in unfavorable epidemiological conditions.

In addition, construction projects related to the organization of a continuous transportation process will be implemented.

2019

Data 700 thousand employees of Russian Railways were in the public domain

On August 27, 2019, it became known that the personal data of 703 thousand Russian Railways employees were publicly available on the Internet. The leak was reported in the technoblog by Habr.com specialist in corporate data protection, technical director of DeviceLock Ashot Hovhannisyan.

Such data as full name, date of birth, SNILS, address and phone number leaked to the Internet. In addition, positions and photographs of employees were made publicly available.

Where the leak came from is unknown, Hovhannisyan said, but there is speculation it is a security database.

Personal data of 703 thousand Russian Railways employees were publicly available on the Internet

In the comments to the post, users made several assumptions. For example, some believe that the data that was used when registering on a certain personnel portal launched six months ago could have been lost. Relatives of employees note that information security courses were held in Russian Railways. At the same time, logins and passwords for testing were provided by the company's security service.

According to Ashot Hovhannisyan, the attackers who gained access to someone else's data? thanked Russian Railways for "the information provided, by careful handling of the personal data of its employees."

A representative of Russian Railways told RBC that the company began an audit regarding the publication of personal data of company employees in open sources.

File:Aquote1.png
Materials are being prepared for transfer to law enforcement agencies, he added.
File:Aquote2.png

Russian Railways also said that the leak did not affect the personal data of customers, since the ticket sales system has protection for personal data of a high degree of reliability.

By the end of June 2019, the number of Russian Railways personnel was about 730 thousand people. Thus, the leak affected 96% of the employees of the railway operator.

A service portal has been created for Russian Railways employees. Employees of the company can also get access to their personal account from a computer, tablet and smartphone.

Approved a long-term development program for Russian Railways until 2025

A government order of March 19, 2019 approved a long-term development program for Russian Railways until 2025.[20]. As part of the implementation of the program, in particular, the transition to the "digital railway" is envisaged.

TAdviser studied the material and highlighted the points related to the digitalization of the railway company. Read more here.

2018: Plan to lay off 42,000 employees by 2025

On June 29, 2018, it was announced that Russian Railways plans to reduce the number of employees by 42 thousand people by 2025, follows from the company's long-term development program.

At this time, 737.4 thousand people work in Russian Railways. The number of employees is planned to be reduced due to the natural outflow of personnel, the redistribution of labor resources and the introduction of new technologies.

It is noted that after such a step, the average salary in the company will grow to about 80 thousand rubles, while now it is 55 thousand[21].

2014: Net loss under RAS - 44 billion rubles

Revenue of Russian Railways in 2014 increased by 1.8%, to 1.402 trillion rubles. At the same time, the cost of sales increased by 1.9% (to 1.343 billion rubles). As a result, gross profit remained at the level of 58.569 billion rubles, and profit from sales - at the level of 58.5 billion rubles. (both indicators decreased by 0.5%)[22].

As a result, Russian Railways in 2014 received a net loss under RAS in the amount of 44.078 billion rubles, the company said in a report.

In 2013, the carrier received a net profit of 740 million rubles. The main reason for the loss in 2014 was a significant increase in "other" expenses - from 233.9 billion rubles. up to 315.5 billion rubles. A source in Russian Railways explained to Interfax that we are talking about an increase in exchange rate differences due to the devaluation of the ruble at the end of the year.

"During 2014, Russian currency markets were subject to high volatility, and the ruble exchange rate against the main world currencies decreased significantly. Part of the loan portfolio (RZD - IF) is denominated in foreign currency (dollars, euros, Swiss francs and pounds sterling). As a result of a significant depreciation of the ruble in the IV quarter, there was an increase in financial costs in ruble equivalent and losses from exchange rate differences arose, "the reporting says
.

The representative of Russian Railways reminded Interfax that the "freezing" of tariffs for freight railway transportation led to the fact that the company received less than 67 billion rubles. revenues. Also, according to him, the continuing slowdown in economic growth in Russia had a negative impact on financial results in 2014, which is why loading decreased by 0.8%.

To compensate for the negative impact of these factors, according to the interlocutor of the agency, allowed to increase internal efficiency, reduce costs and increase the efficiency of operating activities (including by increasing the share of more marginal cargo in the transportation structure). In addition, structural transformations ensured the growth of other revenues, supported by liquidity management, interest income and risk management.

The amount of Russian Railways liabilities on loans and loans increased in 2014 by 32.3%, to 856.22 billion rubles, while short-term debt increased by 3.8 times, to 140.5 billion rubles. (from 5.7% to 16.4% of the total portfolio).

Despite the fact that the share of Russian Railways in the total volume of cargo turnover is 86.6%, which allows the company to be considered a monopolist, financial results indicate an almost dire situation. According to the results of 2014, the share in passenger turnover was 26.4%, but this figure is also decreasing.

In 2005, net profit reached 114.4 billion rubles, but over the next 10 years, the indicator not only did not grow, but Russian Railways slipped into a loss. At the end of 2014, the loss amounted to 99.3 billion rubles. In the company itself, the loss is explained by negative exchange rate differences, under this article the loss amounted to almost 140 billion rubles[23].

It should be noted that compared to 2013, the losses of Russian Railways significantly decreased, since then the loss exceeded 198 billion rubles. In 2013, such a huge amount of loss is associated with impairment of property, plant and equipment and intangible assets. In any case, for a state-owned company, such inefficiency can hardly be justified.

At the same time, the problems were traditionally explained by too weak an increase in tariffs, and at the beginning of 2014 Yakunin called the freezing of tariffs for the transportation of oil and petroleum products the reason for the loss. However, the company then received 26 billion in the form of compensation for losses for the modernization of infrastructure. The total amount of state support in 2014 amounted to 112.2 billion rubles.

It is noteworthy that, based on an increase in losses, Russian Railways in 2015 achieved an increase in tariffs for cargo transportation by 10%, and should also receive about 30 billion rubles. in the form of new subsidies. And already in 2016, according to the head of Russian Railways, the company will need subsidies in the amount of 140 billion rubles.

Experts note that the state-owned company has chosen the easiest way to increase revenues by increasing tariffs, and not, for example, by increasing revenues from loading due to the modernization of infrastructure, increasing turnover due to more favorable conditions, and so on.

Back in 2014, large metallurgical companies of the country complained about the tariff policy of Russian Railways. A corresponding letter was sent to President Vladimir Putin and Prime Minister Dmitry Medvedev. In it, representatives of companies noted that they were forced to reduce the volume of traffic, and this would strike both at the enterprises themselves, several dozen of which would be forced to close or be on the verge of bankruptcy, and at the railway company.

At the same time, automobile and air carriers are quite successful in competing with Russian Railways, offering customers favorable conditions, thereby taking away the company's share even in export transportation.

Although the share of passenger traffic in the income of Russian Railways is low and it is several times less than the income from cargo transportation, the latest scandals were associated with this segment.

In 2014, about 580 electric trains were canceled in 26 regions, while their total number does not exceed 6.5 thousand. Of course, some settlements were offered alternative bus routes, but it must be borne in mind that there are simply no normal roads to some, and the train was the only way to get to the place without your car.

On the other hand, since 2010, not Russian Railways itself has been responsible for suburban traffic in the regions, but its subsidiaries, and each region, setting tariffs, must pay the difference between the carrier's costs and real expenses.

Suburban service was not profitable at all, as often occupancy is provided only in season, and at other times they run half-empty; some destinations are less popular than others, etc.

According to RAS Russian Railways, before the allocation of suburban traffic to subsidiaries, losses reached 25-30 billion rubles. in year. But then no one talked about cancellation. When the burden of expenses fell on the shoulders of the regions, it turned out that many were simply dissatisfied with the opaque tariff policy, and the costs were considered overestimated.

"We are not ready to compensate for the ineffective costs of the Russian Railways subsidiary. Approximately 80-85% of the costs are for maintenance of rolling stock and its lease from the parent company. These are opaque figures for us, we do not recognize these figures, "said Oleg Kuvshinnikov, Governor of the Vologda Region
.

Only after the intervention of Vladimir Putin, the decision to cancel electric trains was canceled and the issue of reducing the load on carriers and regions began to be worked out. But it is unclear why Russian Railways, knowing about all the problems, chose to simply evade responsibility for suburban services, rather than offering alternative options to the government?

The volume of the investment program of Russian Railways is simply colossal. In 2015, expenses on these items are planned at the level of 414 billion rubles, and usually at least 300 billion rubles are allocated for these purposes. (in 2014, 396 billion rubles were allocated).

But the effectiveness of such costs, judging by the indicators, is very doubtful. The government, apparently, understands this, since in 2014 the KPI indicators for Russian Railways were introduced. Commercial, operational efficiency, efficiency of locomotives, maintenance and modernization of infrastructure, wagons are assessed. It is unclear when they will be published or whether they will be implemented at all.

Recall that Vladimir Yakunin came to Russian Railways in order to implement the reform of railway transport, which began back in 2000. At the same time, the reform itself was developed by the consulting company McKinsey.

Perhaps initially the reform, which was based on European countries, did not correspond to Russian reality. Now Russian Railways simply does not have sources of domestic financing with a growing debt.

Image:Структура долга РЖД в валюте 2010-2014.jpg

If you try to balance the budget at the expense of income, then it will be necessary to increase tariffs so much that hardly anyone can use the railways at all. The only way out is government subsidies. But this, of course, does not negate issues of low efficiency.

2013: Plan to allocate 150 billion rubles for the modernization of BAM

As of August 2013, the allocation of 150 billion rubles from the National Welfare Fund for the reconstruction of the BAM and Transsib can be considered a fait accompli.

2012: Working to Zero

The net profit of Russian Railways in 2011 amounted to almost 170 billion rubles, in 2012 - 78 billion, of which 56.7 billion fell on direct subsidies from the federal and local budgets. Russian Railways receives them as compensation for tariff regulation by officials.

Without taking into account budget money, Russian Railways would actually be at zero, and without taking into account the sale of non-core assets, it would be completely unprofitable. Numerous subsidiaries brought Russian Railways in the form of dividends only a modest 14 billion rubles.

In the structure of Russian Railways expenses, most of them are wages and social contributions - they accounted for 649 billion rubles out of 1.5 trillion in total expenses.

Company value: 1.1 trillion rubles or $34 billion

At the end of 2012, the head of the company Vladimir Yakunin noted that with the existing situation, 25 percent of the shares of the monopoly could be sold on the market for 280 billion. rubles It turns out that Yakunin estimated the entire company at 1.12 trillion rubles (about 34 billion at dollars current rates). It turns out that Russian Railways estimates its assets cheaper than the market estimates other large state-owned companies - "" (Gazprom 3.1 trillion rubles), "" (Rosneft 2.4 trillion) and (Sberbank almost two trillion). In addition, according to such an estimate, Russian Railways is even cheaper "" (Lukoil 1.6 trillion).

Yakunin's assessment can be considered conservative, especially since at the end of 2012 he himself was extremely interested in underestimating it: a small amount of income from privatization was supposed to scare away (and scare away) the government from selling 25 percent of Russian Railways shares. Yakunin himself stated that in four to five years Russian Railways should cost 86-129 billion dollars (2.8-4.3 trillion rubles at current rates).

This assessment is already from the category of extremely optimistic: the monopoly was not so expensive at least all post-crisis times. Earlier, Finance magazine annually published a rating of the largest companies in Russia, including non-public ones, and in the latest issue of this rating, Russian Railways was estimated at $90 billion (2.5 trillion rubles at the then rates). Over the year, Russian Railways, according to Finance, has risen in price by 90 percent, and in two years - three times.

The team of analysts at Finance moved to another publication - CEO. According to the expert of the magazine Andrei Shkolin, who managed to contact "Ленте.ру," as of August 2013, the cost of Russian Railways could be estimated at $50-60 billion, that is, significantly more expensive than Yakunin did, but cheaper than it was quoted a couple of years ago. Among the main reasons for the decline in the assessment, Shkolin named the general fall in the Russian stock market and the weakening of the ruble.

The expert explained that he considered the capitalization of Russian Railways by conducting analogues with publicly traded companies of a similar profile, primarily Canadian Pacific Railway and Canadian National Railway. "At the same time, it was conditionally believed that the lower efficiency of Russian Railways was compensated by the exclusive position of the monopoly in the Russian market," added Andrei Shkolin.

There are other methods of evaluating Russian Railways on the market. Thus, Alexey Pavlov from the brokerage house "Otkritie" suggested looking not at the capitalization of foreign analogues, but at Russian companies, say, at Globaltrans, a transport operator in Russia, the CIS and the Baltic countries. It is valued on the market at five EBITDA measures (earnings before amortization and taxes). According to Pavlov, Russian Railways, as a state-owned company, is less efficient, so the market can give it a slightly smaller valuation than Globaltransa, somewhere in the region of 4 EBITDA. In 2012, Russian Railways had a profit of 319 billion rubles before depreciation and taxation, which gives the company an overall estimate of 1.28 trillion rubles ($38.7 billion). Of this amount, Pavlov also proposes to deduct net debt, which is about one annual profit.

At the same time, the analyst emphasizes that in August 2013, an extremely unsuccessful situation developed on the market for Russian companies, especially state companies, which are now estimated at the lowest multipliers.

The most optimistic estimate of the value of Russian Railways "Ленте.ру" was given to Alpari: according to the calculation of the analyst of this company Anna Kokoreva, based on the latest financial statements of the monopoly, Russian Railways can cost 95-100 billion dollars.

The range of estimates is primarily due to the fact that although the capitalization of the company, which investors are guided by, is determined by market quotes, traders react not only to the financial indicators of the issuer. Almost more important for them are "secondary" factors: how many shares are traded on the market (free float), what is the situation, how much the company is ready to pay as dividends, and so on. One thing is clear: in recent years, Russian Railways has not risen in price in any way and it is not known when investors will be able to evaluate it in the same way as several years ago - especially if the company does not clear the rubble from non-core business and continues to seek funding for large projects exclusively in the country's treasury. The time for ultra-profitable privatization of the monopoly is gone, now it makes sense for Russian Railways to sell only in order to improve the investment climate: the notorious minority shareholders will take care of the effectiveness of Russian Railways much more carefully than the state.

1.49 billion for payments to board members

In 2012, the monopoly spent 1.49 billion rubles from the salary fund on payments to 24 members of the Russian Railways board, the rest of the company's employees are forced to be content with much lower salaries. If we assume that about a million people still work in the monopoly, then it will turn out on average 54 thousand per person per month "dirty"; if you take on faith a closed document of Russian Railways leaked on the Internet on the number of employees and working conditions in a monopoly, then the average salary will increase to 60 thousand.

1916

A study car on the train of Emperor Nicholas II. Russian Empire, 1910s.
An employee vacuuming second-class cars, St. Petersburg-Warsaw Railway, Russian Empire, 1916.

Pay attention to the rare type of vacuum cleaner now - "pneumatic," powered by compressed air. There are no electric motors in it - suction is carried out by ejection from a stream of compressed air, the vacuum cleaner is connected not to the power grid, but to a compressed air network, like those installed in car services, to work with pneumatic tools. Compared to electric, it is very quiet, not buzzing, but quietly hissing. Complete electrical safety. And a lot of suction energy.

Again, pneumatic destructors without an electric drive in Russia appeared almost a hundred years later.

1905: Double-decker cars

Double-decker train car in the Russian Empire, 1905.

1891: The start of construction of the Trans-Siberian Railway

Trans-Siberian Railway (Transsib), Great Siberian Way (historical name) is a railway between Chelyabinsk and Vladivostok connecting the European part of Russia with the largest East Siberian and Far Eastern industrial cities. Built in 1891-1916.

Construction of the Trans-Siberian Railway. Russia, the beginning of the XX century.

The length of the highway at the end of construction was 8.3 thousand km.

See also

Notes

  1. Ministry of Ways of Multiplication
  2. Net profit of Russian Railways under RAS increased 2.5 times in 2023
  3. Russian Railways in 2023 recorded a 36% increase in traffic with China
  4. [https://company.rzd.ru/ru/9397/page/104069?id=290218 , the report
  5. . In 2023, 1.2 billion ]passengers were transported to the Russian Railways network
  6. In 2022, Russian Railways transported the maximum volume of cargo in history to the east
  7. Passenger traffic of the railway in 2022 did not reach the dock-like indicators
  8. Net profit of Russian Railways under IFRS in 2021 amounted to 50.7 billion rubles
  9. [Russian Railways has developed an investment program for 11 trillion rubles until 2030 https://www.interfax.ru/russia/936360]
  10. Russian Railways decided to hire convicts and migrants
  11. RF will capitalize Russian Railways by 162 billion rubles - head of the Ministry of Transport
  12. Russian Railways investments in 20 years exceeded nine trillion rubles
  13. More than 20 billion rubles will be allocated for the development of the railway network of the Azov-Black Sea basin
  14. The paths of the program are impenetrable
  15. The government approved the investment program of Russian Railways for 2023 in the amount of 1.074 trillion rubles
  16. Mishustin: the total volume of the investment program of Russian Railways in the next three years will exceed 3 trillion rubles
  17. The Cabinet of Ministers increased the authorized capital of Russian Railways by almost 22 billion rubles
  18. Government meeting
  19. Russian Railways will find money for a new headquarters through the sale of real estate and bank loans
  20. The long-term development program of JSC "Russian Railways" until 2025 was approved
  21. Russian Railways will reduce 42 thousand jobs
  22. Russian Railways in 2014 received 44 billion rubles of net loss
  23. Why in fact Yakunin leaves Russian Railways