Sinara-Transport Machines (CTM)

Sinara-Transport Machines JSC (STM) is a division engineering holding of the Sinara Group, unites the scientific, technical and production potential of Russian enterprises for engineering, production, maintenance of railway equipment and diesel industrial installations.

Performance indicators

2023: 7.2% decrease in revenue to RUB 1.58 billion

In 2023, Sinara - Transport Vehicles Holding (Sinara-TM) received revenue of 1.58 billion rubles. This is 7.2% less compared to 2022, when the value was 1.71 billion rubles. Financial indicators are given in a report published in early March 2024.

Deliveries of products to the domestic market in 2023 brought the company about 391.57 million rubles, which corresponds to 24.7% of total revenue. For comparison, a year earlier, the share of supplies in the Russian Federation was 38.9%. The cost of sales on an annualized basis rose by 15.9% - from 1.94 billion rubles to 2.25 billion rubles.

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Sinara-TM Holding demonstrated a net profit of 2.96 billion rubles in 2023. In 2022, profit was estimated at 583.63 million rubles. Thus, 5.1-fold growth was recorded. Accounts payable of the machine-building enterprise decreased from 262.03 million rubles as of December 31, 2022 to 150.2 million rubles as of December 31, 2023, accounts receivable - increased from 5.67 billion rubles to 8.05 billion rubles.

Currently, [by the beginning of 2024], the company is not experiencing significant financial difficulties associated with geopolitical instability, the report notes.

According to the data published on the holding's website, the total number of its personnel exceeds 26 thousand employees (at the beginning of 2024). The group's activities cover the entire life cycle of locomotives and track machines - from creation to service. The holding's assets are located in the Sverdlovsk and Kaluga regions. During 2023, several subsidiaries left the holding: for example, in April, the group sold its parent company a 100% stake in Sinara - City Rail Transport LLC, Sinara - Energy Solutions LLC, Sinara - GM LLC^[1]

History

2022

Revenue increase by half - up to 1.7 billion rubles

At the end of 2022, the Sinara - Transport Machines group (STM) raised 1.7 billion rubles, which is twice as much as a year earlier (794.94 million rubles). The company's net profit during this time decreased from 1.8 billion rubles to 583.6 million. This is stated in the report of the engineering holding, which was published in early March 2023.

According to Interfax, citing STM materials, in 2022 the group's cost of sales reached 1.9 billion rubles, which is 24% more than a year ago. Gross loss decreased by 3.3 times, amounting to 231.5 million rubles, income from participation in other organizations decreased by 2 times and amounted to 1.4 billion rubles.

At the end of the year, the company's net profit decreased by 1.3 billion rubles

In 2022, Sinara - Transport Machines produced and sold 140 electric train cars (+ 10 units by 2021), 118 electric locomotives (+ 12 units), 49 shunting diesel locomotives (+ 18 units), 708 units of track equipment (-136 units), maintenance and repair 330 units of locomotives (-17 units). More than 8,100 sections were serviced at the company's sites.

The STM noted that in 2022 the direction of urban public transport (129 units were implemented) and infrastructure services were actively developed - a project was launched to provide a new service for cleaning crushed stone ballast of the upper structure of the track, as well as electrical contact welding of rails on the way.

STM notes that the debt burden remains at a level comfortable for the holding. The ratio of net debt to EBITDA in 2022 was 3.2. STM Holding in 2022 continued to optimize its debt portfolio by placing a third bond issue for 10 billion rubles with a maturity of five years. The funds from the placement were used to replace short-term and expensive loans.^[2]

Agreement with Novomet on the receipt of electric motors

Russian high-speed trains will receive domestic electric motors of the Novomet company. Rusnano reported this on July 19, 2022.

Sinara - Transport Machines agreed with the Perm enterprise. The memorandum of intent for the joint development of traction equipment components for high-speed electric trains was signed by Evgeny Gritsenko, Vice President of Sinara Group, and Maxim Perelman, General Director of Novomet.

The parties agreed on the joint design, testing, certification and serial production of a traction kit for electric vehicles, which includes an electric motor with a capacity of 120 kW, as well as its control and cooling systems.

In the development and production of electric machines, Novomet patents and know-how will be used. STM will take over the technological part of the development.

2021: Participation in the creation of the Consortium for Hydrogen Development in Transport

On July 6, 2021, it became known that Sinara - Transport Machines Holding, Ural Federal University, Institute of High-Temperature Electrochemistry, Ural Branch of the Russian Academy of Sciences, Agency for Technological Development and Advent Engineering entered into a cooperation agreement. Read more here.

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