The revenue of the international division of TMH International has grown almost 6 times
The revenue of TMH’s international division grew almost 6 times in the first half of 2021.
According to the manufacturer’s IFRS reporting, TMH International’s revenue under contracts with customers in the first half of the year amounted to more than RUB 15 billion against 2.6 billion rubles, following the results of the same period in 2020, informs Railway Supply magazine.
Its main share (13.2 billion rubles, 88%) is on the sales of passenger cars.
In the total revenue of TMH for the period, the share of TMH International amounted to almost 11%. TMH International is now, in particular, implementing a contract in Egypt (the first shipments of wagons began in June 2020), and also maintains and deeply modernizes passenger railcars for the national Hungarian carrier MAV-Start.
At the same time, TMH, despite the growth in total revenue (138.1 billion, 13.4% compared to half-year 2020), in the first half-2021 recorded a decrease in profit by 7.2 billion rubles: from 10.8 up to 3.6 billion rubles.
According to the reports, the manufacturer’s cost of sales increased significantly – by 17%, from 100.4 to 117.5 billion rubles.
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