Russian Railways plans to sell a 49% stake in the Federal Freight Company (FGC) to partially improve its financial situation and raise funds for its investment program, a source familiar with the company’s financial plan told Kommersant. According to him, the state monopoly estimated the value of the company’s stake at 44 billion rubles and does not expect to make a profit from its sale.
According to Infoline data, FGC manages 134,300 units of rolling stock and is the second-largest railway operator in Russia. However, in January-September 2025, FGC reduced its loading by 30.3% year-on-year to 54.3 million tons. At the same time, this figure for the top 30 operators decreased by 6.9%. FGC’s revenue in 2024 increased by 10% to 126.98 billion rubles, while its net profit decreased by 2.8% to 46.97 billion. For Russian Railways, the company is one of the main sources of dividend income. In 2022, FGC paid out 20.6 billion rubles in dividends, or 50% of its profit, in 2023 – 31.1 billion (64%), and in 2024 – 22 billion (47%) (The Moscow Times).
