News and Press Releases

13 December 2011

OJSC VTB Leasing Announces Results for 9 Months of 2011

OJSC VTB Leasing publishes its unaudited financial operating results compiled in compliance with International Financial Reporting Standards (IFRS) as of September 30, 2011.

MAIN FINANCIAL HIGHLIGHTS (for 9 months 2011) are as follows:

  • Revenue from core operations was 7.6 bn rubles
  • Net income (under IFRS) was 1.7 bn rubles
  • Net interest income was 1.2 bn rubles
  • Company’s capital was 11.4 bn rubles
  • Company’s assets were 175.8 bn rubles

Net investment in leasing as of September 30, 2011 was 119.4 bn rubles – an increase of +39% compared to September 30, 2010. Consolidated leasing portfolio (amount of client liabilities under leasing contracts less leasing payments already made) including transactions of OJSC VTB Leasing and its subsidiaries at the end of 9 months of 2011 was 151.8 bn rubles. Amount of leasing payments received was 79.9 bn rubles.

Key sectors in the industry breakdown of leasing portfolio as of end of 9 months of 2011 were:

· Rolling stock and railroad transport equipment - 61.8% of the total portfolio (166,7 bn rubles);

· Aircraft equipment – 22.2% of the total (59.9 bn rubles);

· Oil production and processing equipment – 6.3% (17.1 bn rubles);

· Power generation and machine-building equipment - 2.9 % (7.9 bn rubles)

· Real estate – 2.9% of the total, or 7.8 bn rubles.

In the list of important transactions the Company entered into in Q3 2011 we should mention the contract for delivery of leading-edge equipment – TEM8 single-unit eight-axle diesel-electric locomotives for OOO Mechel-Trans Vostok company. These locomotives were purpose-developed for operation in mountainous conditions. Another notable transaction includes a contract with Magnezit group for leasing of industrial equipment and acquisition and leasing of a non-residential real estate property with total floor space of 54,050 square meters (this property is known as Leiptsig Retail Center).

In September 2011 a large transaction was entered into with Magnezit Group of companies. Industrial equipment was leased under this contract.

Mr. A. Konoplev, CEO of VTB Leasing, said: “Taking into account the continuing presence of negative trends in global and national economies including a lack of balance between demand and supply and also decrease of funding available from financial institutions for various transactions, VTB Leasing continues entering into large-scale transactions: structured deals involving long-term leasing that are unique in their nature.

Our company continuously exercises its policy for business diversification – both for geographic distribution of transactions and for types of property leased; we are actively entering new lines of business – such as leasing of real estate; we are equally active in developing our existing lines of business such as aircraft leasing and leasing of rolling stock”.

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