Baltic States – CIS, Estonia, Logistics, Railways, Transport

The financial results were negatively impacted by general developments in the group's business environment and political tensions. The political and economic situation in the world and in Russia damaged the financial and economic environment of the group's customers and that in turn impacted their ability to pay, Spacecom said in the annual report.

In 2015, the company planned to pay 6.5 million euros in dividends, but instead paid out 4.3 million euros during the year. This year the company plans to pay 2 million euros of dividends.

The management board of the group has two members, Oleg Ossinovski and Siarhei Psiola, and their remuneration amounted to 400,000 euros, up from 392,000 euros the year before. The company had an average of 19 employees in the past year or one person less than the previous year and labor costs totaled 1.9 million euros, down from 2.4 million euros a year before.

Spacecom's core business is rental of railway rolling stock. At the end of 2015 the group owned a fleet of 4,969 rail tank cars. The cars are rented mainly for periods ranging from one to three years.

Spacecom's parent company is Cyprus-registered Globaltrans Investments Holding PLC. It has a subsidiary, Ekolinja, in Finland, and a 25.27% holding in the Latvian company Daugavpils Lokomotivju Remonta Rupnica.