Luhanskteplovoz boosts locomotive output 30% yoy in 8M12

Luhanskteplovoz (LTPL UK) manufactured 94 diesel locomotive sections in 8M12 (including two powered by General Electric), up 30% yoy compared to 64 diesel and eight electric sections in the same period of last year. Luhanskteplovoz also said it completed the assembly of a second DEL-02 diesel train for Ukrzaliznytsya. Overall output in value terms grew 4% yoy and exceeded UAH 1 bln, according to the company.

Roman Dmytrenko: The reported diesel section production volumes imply Luhanskteplovoz will face no trouble in achieving its overall output target of 156 units in 2012. At the same time, we believe that the management’s guidance of 50% yoy output growth in monetary terms to UAH 2.4 bln in 2012 looks unrealistic due to pricing issues.