Kryukiv Rail Car

Kryukiv Rail Car (KVBZ) is Ukraine’s monopoly producer of passenger railcars and top manufacturer of freight cars, with nameplate annual capacity of 12,000 freight cars and 300 passenger cars, which was heavily underutilized in recent years. Kryukiv is among the main suppliers of railcars to Ukrainian Railway and local municipal subway operators.

Shareholders Structure

SUMMARY

Market Price ($) 0.743
Market Cap ($m) 85
Enterprise Value ($m) 29
Shares Outstanding 114,679,552
Code KVBZ

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2017 2018 2019 2020 2021E
Sales ($m) 145 203 *** *** ***
EBITDA ($m) 14 20 *** *** ***
Net Income ($m) 12 18 *** *** ***
Net Debt ($m) (31) (20) *** *** ***
Indicator 2017 2018 2019 2020 2021E
P/E 6.83 4.76 *** *** ***
P/Sales 0.59 0.42 *** *** ***
EV/EBITDA 3.8 3.2 *** *** ***
P/Book 1.09 0.89 *** *** ***

Latest news about Kryukiv Rail Car

May 26, 2021
| Railcars

Kryukiv Rail Car — Reports weak 2020 results and 4M21 production

Kryukiv Rail Car (KVBZ), the largest local producer of freight cars and sole manufacturer of passenger railcars, reported sharply weaker 2020 results: sales slid by 62% y-o-y to $124m, EBITDA tumbled by 84% to $6.9m, and net income shrank to $2.6m (-92%). Net Debt/EBITDA increased to 8.1x from 0.7x in 2019.
Feb 05, 2021
| Manufacturing

Kryukiv Rail Car – Production down 70% y-o-y in 2020, in line with industry-wide slump

Kryukiv Rail Car (KVBZ), the largest Ukrainian producer of freight railcars and only domestic manufacturer of passenger cars, made 1,569 freight cars in 2020, down 70% y-o-y, as well as repaired 26 passenger cars (vs. 18 in 2019). Total freight car production in Ukraine also fell 70% y-o-y in 2020, to 3,241 vehicles.
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