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An entrepreneurial success story

Globaltrans was formed in 2004 from two companies, led by entrepreneurs, and has since grown to become one of the leading freight rail transportation groups in Russia and the CIS. The owners’ commitment to transparency and good corporate governance enabled it in 2008 to become the first freight rail group focused on Russia to list shares (in the form of Global Depository Receipts) on an international stock exchange.

Today, the Group continues to be led by industry professionals with long-term experience in the freight rail transportation and infrastructure sectors. Click here for further details on Globaltrans’ ownership structure.

Operating through subsidiaries in Russia, the CIS and the Baltic states, Globaltrans has a Total Fleet is defined as the fleet owned and leased in under finance and operating leases as at the end of reporting period. It includes railcars, locomotives and petrochemical tank containers, unless otherwise stated, and excludes Engaged Fleet.
Total Fleet
exceeding 70,000 units at 30 June 2019. Click here for further details on Globaltrans’ business.

In 2012, Globaltrans reached an important milestone when the Group’s free float exceeded 50%. Today, well over half of the Company’s shares – almost 60% - are freely tradable in the form of GDRs on the stock markets.

Key milestones

  • 2004: Established in Cyprus.
  • May 2008: Successful listing of GDRs on the London Stock Exchange’s Main Market. The initial public offering (IPO), with a free float of about 30%, generated approximately USD 225 million in gross proceeds, used to fund the capital expenditure programme and expand the fleet.
  • 2008: Ukrainian subsidiary (Ukrainian New Forwarding Company) created. Majority stakes in two Estonian-registered subsidiaries (Spacecom and Spacecom Trans) acquired increasing the Group’s presence in the oil products and oil transportation markets in the CIS.
  • December 2009: Secondary offering of GDRs, generating approximately USD 100 million in gross proceeds. The Group also increased its presence in shipping of oil products and oil for Russian oil majors with the purchase of an effective 50% stake in BaltTransServis (stake increased to 60% in 2011)
  • May 2012:  Acquisition of Metalloinvesttrans (renamed Ferrotrans), captive freight rail transportation operator of Metalloinvest, a leading producer of hot briquetted iron, iron ore products and high quality steel. Globaltrans signed its first long-term service contract with Metalloinvest which covered 100% of the freight rail transportation needs of this client.
  • July 2012: Successful follow-on offering of GDRs generating gross proceeds of approximately USD 400 million, used to create flexibility to further capitalise on opportunities in the Russian freight rail market. 
  • February 2013: Acquisition of MMK-Trans (renamed Steeltrans), the captive freight rail operator of MMK Group, a leading Russian metals company and one of the world's largest steel producers. Globaltrans entered into a long-term service contract with MMK, covering at least 70% of the client’s freight rail transportation needs.
  • 2014: Launch of freight rail transportation of petrochemicals in tank containers on rail platforms; creation of a special subsidiary SyntezRail together with partners.
  • 2014-2015: Corporate structure simplification and optimisation (the Group’s subsidiaries Ferrotrans and Sevtekhnotrans were merged into GTI Management; Steeltrans was integrated into New Forwarding Company).
  • 2016: The Group successfully extended its long-term partnership with Rosneft for the next five years and with Metalloinvest for the next three years.
  • 2017: Enhanced dividend policy is introduced linking dividends to Attributable Free Cash Flow (a non-GAAP financial measure) means Free Cash Flow less Adjusted Profit Attributable to Non-controlling Interests. 
    Attributable Free Cash Flow
    and Leverage. Click here for Globaltrans’ Dividend Policy.
  • 2018: Long-term partnership with MMK extended for an additional 18 months until the end of September 2020. Further milestone was reached as the outsourcing partner for blue-chip companies – the new five-year contracts were signed with TMK, a leading global manufacturer and supplier of steel pipes for the oil and gas industry, and ChelPipe Group, a leading Russian manufacturer of pipe products and provider of integrated solutions for fuel and energy companies.

 

 

Last updated: 24.10.2019