March 25, 2014

Record results for Brazil's MRS Logistics

Written by  Gustavo Ferrari
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BRAZILIAN railfreight operator MRS Logistics carried a record 151.6 million tonnes of freight in 2013 according to the company's annual results, which show net profits increased by 6.6% year-on-year to Reais 469.4m ($US 202m).

MRS says volumes grew significantly in the second half of the year after a lacklustre first quarter, when it was hit by poor weather and operational issues with customers.

Ebitda rose by 9% to Reais 1.2bn, a 9% increase compared with 2012, while net income grew by 1.6% to Reais 3bn.

MRS Logistics shareholders have approved a budget of Reais 996.4m for 2014, including Reais 364.6m for infrastructure, Reais 451.6m for locomotives and rolling stock, and Reais 113.4m for signalling.

MRS Logistics is positive about its prospects for 2014 and expects volumes to grow by 11.5% to 174.2 million tonnes this year. Revenues are expected to rise 13% to Reais 3.75bn.

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