Adjusted cost of sales defined as cost of sales less infrastructure and locomotive tariffs: loaded trips; cost of wagons and locomotives sold in trading transactions (not part of PPE); depreciation and impairment charge of property, plant and equipment, employee benefit expense and loss/(gain) on sale of property, plant and equipment assigned in EU IRFS to cost of sales.
Adjusted EBITDA (a non-GAAP financial measure) represents EBITDA excluding “net foreign exchange transaction (losses)/gains on financing activities”, “share of profit/(loss) of associates”, “other gains/(losses) – net”, “loss/(gain) on sale of property, plant and equipment” and “impairment charge on property, plant and equipment”.
Adjusted EBITDA margin (a non-GAAP financial measure) calculated as Adjusted EBITDA divided by Adjusted Revenue.
Adjusted revenue (a non-GAAP financial measure) is calculated as “revenue” less “infrastructure and locomotive tariffs: loaded trips”.
Average number of loaded trips per railcar is calculated as total number of loaded trips in the relevant period divided by average rolling stock operated.
Average price per trip is calculated as net revenue from operation of rolling stock divided by total number of loaded trips during the relevant period in the respective currency.
Average rolling stock operated is calculated as thee average weighted (by days) number of rolling stock available for operator services (not including rolling stock in maintenance, purchased rolling stock in transition to its first place of commercial utilisation or rolling stock leased out).
Tariff 10-01 differentiates between three classes of cargo – Classes 1, 2 and 3. Class 3 (which includes ferrous metals and scrap metals) attracts the highest prices and Class 1 (which includes iron ore and coal) the lowest.
Business and investing specific term for the geometric mean growth rate on an annualized basis.
EBITDA (a non-GAAP financial measure) represents “profit for the period” before “income tax expense”, “finance costs – net” (excluding “net foreign exchange transaction (losses)/gains on financing activities”), “depreciation of property, plant and equipment” and “amortisation of intangible assets”.
Empty run costs (a non-GAAP financial measure, meaning costs payable to OAO Russian Railways for forwarding empty railcars) is derived from management accounts and presented as part of the “empty run trips, other tariffs and services provided by other transportation organisations” component of “cost of sales” reported under EU IFRS. Empty run costs do not include costs of relocation of rolling stock in and from maintenance, purchased rolling stock in transition to its first place of commercial utilisation and rolling stock leased in or leased out. For the year of 2008, Empty run costs exclude the impact of the consolidation of AS Spacecom which discontinued its freight rail transportation services in the first half of 2008.
Empty run or empty runs means movement of railcars without cargo for the whole or a substantial part of the journey.
Empty run ratio is calculated as the total of empty trips in kilometres by respective rolling stock type divided by total loaded trips in kilometres of such rolling stock type. Empty trips are only applicable to rolling stock operated (not including rolling stock in maintenance, purchased rolling stock in transition to its first place of commercial utilisation or rolling stock leased out).
Freight rail turnover is a measure of freight carriage activity over a particular period calculated as sum of tonnage of each loaded trip multiplied by the distance of each loaded trip, expressed in tonnes-km.
Functional currency defined as the currency of the primary economic environment in which the entity operates, for Globaltrans Investment PLC is Russian Rouble.
Gondola is an open-top type of rolling stock that is used for carrying loose bulk materials.
Hopper car is a type of railroad freight car used to transport loose bulk commodities, and distinguished from a gondola car in that it has opening doors on the underside or on the sides to discharge its cargo.
Locomotive is a railway vehicle that provides the motive power for a train.
Net debt (a non-GAAP financial measure) is defined as the sum of current and non-current borrowings (including interest accrued) less “cash and cash equivalents”.
Net revenue from operation of rolling stock (a non-GAAP financial measure) is defined as the sum of “revenue from railway transportation - operators services (tariff borne by the Group)” and “revenue from railway transportation - operators services (tariff borne by the client)” less “infrastructure and locomotive tariffs: loaded trips” (excluding the impact of the transfer and consolidation of AS Spacecom and AS Intopex Trans for the year of 2008 as AS Spacecom discontinued its freight rail transportation services in the first half of 2008).
State owned railway company.
Operating cash costs (a non-GAAP financial measure) represent operating cost items payable in cash and calculated as “total cost of sales, selling and marketing costs and administrative expenses” less “depreciation of property, plant and equipment”, “amortisation of intangible assets”, “impairment charge for receivables”, “loss/(gain) on sale of property, plant and equipment”, “impairment charge for property, plant and equipment”.
Operating non-cash costs (a non-GAAP financial measure include line items such as “depreciation of property, plant and equipment”, “amortisation of intangible assets”, “impairment charge for receivables”, “loss/(gain) on sale of property, plant and equipment”, “impairment charge for property, plant and equipment”.
Other operating cash costs (a non-GAAP financial measure) include line items such as “operating lease rentals – office”, “auditors' remuneration”, “advertising and promotion”, “communication costs”, “information services”, “taxes (other than income tax and value added taxes)”, “cost of wagons and locomotives sold in trading transactions (not part of property, plant and equipment)” and “other expenses”.
Other tariffs and services provided by other transportation organisations (a non-GAAP financial measure) is presented as part of the ‘‘empty run trips, other tariffs and services provided by other transportation organisations’’ component of “cost of sales” reported under EU IFRS
Owned fleet is defined as rolling stock fleet owned and leased in under finance lease as of the end of period (it includes railcars and locomotives unless otherwise stated).
Tank car is a type of railroad rolling stock designed to transport liquid and gaseous commodities.
ROCE is defined as Adjusted EBITDA (last twelve months basis) less depreciation of property, plant and equipment divided by the sum of average balances between balance sheet dates of total equity (including minority interest) and total borrowings.
Share of empty run kilometres paid by Globaltrans is defined as the percentage of empty run kilometres paid by Globaltrans divided by the total amount of empty run kilometres incurred by the fleet operated by Globaltrans’ (not including costs of relocation of rolling stock in and from maintenance, purchased rolling stock in transition to its first place of commercial utilisation or rolling stock leased out) in the relevant period.
Total empty run ratio is calculated as total kilometers travelled empty divided by total kilometers travelled loaded by the fleet operated by Globaltrans (not including costs of relocation of rolling stock in and from maintenance, purchased rolling stock in transition to its first place of commercial utilisation or rolling stock leased out) in the relevant period.
Total fleet is defined as the total rolling stock owned and leased under finance and operating leases as of the end of period (it includes railcars and locomotives unless otherwise stated).
Transportation volume is a measure of freight carriage activity over a particular period measuring weight of cargo carried in million tonnes.
