Kryukiv Wagon freight car output falls 7% mom in August

Kryukiv Wagon (KVBZ UK) produced 980 freight railcars in August, down 6.6% mom, Interfax reported yesterday. Total wagon output grew 5% yoy to 7,562 units in 8M12. Passenger wagon output stood at 4 units in August, with total production rising almost 10x to 49 units in 8M12.

Roman Dmytrenko: Despite a slight decline the monthly output of freight railcars in August, Kryukiv continues to operate at close to its maximum production capacity of ~1,000 units/month, which brings it close to beating our full-year production target by 12% and manufacturing 11,500 freight cars in 2012. We also expect Kryukiv to produce another 15 passenger wagons for Tajikistan by yearend and post total revenues of an estimated USD 860 mln for the year (+12% yoy).