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Sinara – Transport Machines expects $1.5 bln of revenue in 2024

4 April 2024
Reading time ~ 1 min
The ES104 Finist EMUs at Shartash station, Sverdlovsk region
The ES104 Finist EMUs at Shartash station, Sverdlovsk region. Source: Kirill Shirokov/railgallery
Belov Sergey, Editor-in-Chief, ROLLINGSTOCK Agency
Reading time ~ 1 min
Savenkova Ekaterina, Editorial Contributor to International Projects of ROLLINGSTOCK Agency

Russia: The projected revenue in RUB is 141 bln, which is a remarkable one-third increase from the estimated revenue for 2023 of RUB 106 bln ($1.2 bln, +25%) and one and a half times higher than the revenue in 2022, RUB 94 bln ($1.4 bln, +7%).

The company is committed to achieving its goal of increasing EBITDA to 13.8% and significantly reducing its debt burden.

Sinara – Transport Machines (STM) anticipates a 15% increase in sales of electric locomotives in 2024, along with a revenue recovery for electric trains. This growth will be facilitated by the finalisation of a new contract with Russian Railways for the supply of 100 ES104 Finist cars by year-end. The contract includes the production of eight-car and bi-mode trainsets.

The current orders for diesel locomotives will use more than 80% of production capacity. The company is increasing its exports, which accounted for 8% of deliveries last year. STM aims to export to strategic destinations such as the BRICS countries and countries that plan to join the organisation.

According to STM, the value of contracts until 2054 is estimated to reach RUB 1.7 trn ($18.3 bln). It is important to highlight that this amount does not include high-speed trains, as a separate project company will be established for this expected contract.

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