Kryukiv Wagon sees output fall 77% yoy in 1H09
17 July 2009
Kryukiv Wagon (KVBZ) produced 873 passenger railcars in 1H09, 77% less yoy. Yegor Samusenko: The company is suffering heavily due to the lack of new rolling stock purchase programs by its main customers, the Russian and Ukrainian state railway operators. The fall in production was even steeper in 2Q09, down 85% yoy, than in 1Q09, when it was off 69% yoy. We view the news as negative for the stock.
