Kryukiv Wagon raises freight railcar output by 20% y-o-y in 9M11

Kryukiv Wagon (UX: KVBZ UK, BUY) increased production by 20% y-o-y to 8,278 freight railcars in 9M11, Interfax reported yesterday. September output came to 1,065 units, up 2% m-o-m. Vitaly Gorovoy: The announced results are generally in line with our expectations of around 10,800 units in 2011E, up 19% y-o-y. In monetary terms, we revenue from sales of freight railcars to reach USD 790 mln this year, up 60% y-o-y, based on an increase in the average price per unit by 35% y-o-y in 2011.