Fesco reported group consolidated ebitda, excluding one-off amounts, of $34.5m,down from $48.1m in the first quarter of 2013 as revenues fell by 11.9% to$242.5m.
Slowed economic growth caused rail market weakness which was exacerbatedby devaluation of the ruble, the company says.
Fesco’s port and export-import liner shipping operations reportedincreases in volumes of 8% and 11% year-on-year.
Its rail container unit alsoincreased volumes by 9.5% to 70,000-teu, but its revenues fell 40%, and Ebitda53% due to continued decreases in rates and ruble devaluation.
The company continues to invest in its ports division as per itsstrategic direction.
