EX-99.2 5 dex992.txt GENESEE & WYOMING INC. REPORTS TRAFFIC FOR NOVEMBER 2001 Exhibit 99.2 Genesee & Wyoming Inc. Reports Traffic for November 2001 GREENWICH, Conn., December 13, 2001/PRNewswire - Genesee & Wyoming Inc. (GWI) (Nasdaq: GNWR) today reported November 2001 traffic volumes for its North American and 50% owned Australian operations. North American carloads in November 2001 were 35,495, an increase of 3,680 carloads over November 2000. Australian carloads in November 2001 were 73,657 compared with 21,711 carloads in November 2000. Australia's 2000 carloads include traffic on the Australia Southern Railroad (ASR) only, while Australia's 2001 carloads are the results of the Australian Railroad Group (ARG), which is composed of ASR and the Australia Western Railroad (AWR) - formerly known as Westrail Freight. As of December 16, 2000, GWI contributed ASR to ARG and now owns 50% of ARG. GWI reports its ownership of ARG using the equity method of accounting. Given ARG's material impact on the financial results of GWI, the Company reports the total carloads of ARG on a monthly basis. The table below sets fourth North American carloading information for November 2001 and November 2000: North America by November % of November % of Commodity Group 2001 Total 2000 Total Coal Coke & Ores 11,067 31.2% 10,062 31.6% Metals 4,357 12.3% 2,606 8.2% Pulp & Paper 3,773 10.6% 4,356 13.7% Minerals & Stone 3,668 10.3% 3,774 11.9% Farm & Food Products 2,801 7.9% 2,905 9.1% Lumber & Forest Products 2,353 6.6% 1,806 5.7% Petroleum Products 2,241 6.3% 2,337 7.3% Chemicals 1,406 4.0% 1,339 4.2% Autos & Auto Parts 1,277 3.6% 557 1.8% Other 2,552 7.2% 2,073 6.5% Total 35,495 100.0% 31,815 100.0% North American carloads in November 2001 increased by 3,680 carloads, or 11.6%. Excluding 3,313 carloads shipped by the South Buffalo Railway, which was acquired on October 1, 2001, North American carloads in November 2001 increased by 367 carloads, or 1.2%. South Buffalo contributed 1,755 carloads of metals, 1,110 carloads of auto parts, 140 carloads of minerals and stone and 308 carloads of other commodities. Excluding South Buffalo, North American traffic was led by an increase in coal of 888 carloads and an increase in lumber and forest products of 411 carloads. Pulp and paper declined by 583 carloads, while autos and auto parts declined by 390 carloads. All other commodities increased by a net 41 carloads. The table below sets forth North American carloading information for the fourth quarter of 2001 through November and the fourth quarter of 2000 through November: North America by Q-T-D % of Q-T-D % of Commodity Group NOV 2001 Total NOV 2000 Total Coal Coke & Ores 23,018 31.9% 19,427 31.0% Metals 9,120 12.6% 5,433 8.7% Minerals & Stone 7,909 11.0% 7,169 11.4% Pulp & Paper 7,619 10.6% 8,964 14.3% Farm & Food Products 5,292 7.3% 5,589 8.9% Lumber & Forest Products 4,810 6.7% 3,647 5.8% Petroleum Products 4,099 5.7% 4,509 7.2% Chemicals 2,860 4.0% 2,613 4.2% Autos & Auto Parts 2,599 3.6% 1,105 1.8% Other 4,808 6.6% 4,170 6.7% Total 72,134 100.0% 62,626 100.0% North American carloads for the fourth quarter through November 2001 increased by 9,508 carloads, or 15.2%. Excluding 6,990 carloads shipped by the South Buffalo Railway, which was acquired on October 1, 2001, North American carloads for the fourth quarter through November 2001 increased by 2,518 carloads, or 4.0%. The table below sets forth Australian carloading information for November 2001 and November 2000. Included in Australia's November 2001 carloads are the results of the ARG, which is composed of ASR and AWR. On December 16, 2000, GWI contributed ASR (formerly wholly owned) to ARG and now owns 50% of ARG: Australia by November % of November % of Commodity Group 2001 Total 2000 Total Grain 15,445 20.9% 5,622 25.9% Iron Ores 14,078 19.1% 8,254 38.0% Alumina 11,943 16.3% - 0.0% Bauxite 10,500 14.2% - 0.0% Other Ores & Minerals 6,034 8.2% 1,250 5.8% Gypsum 4,552 6.2% 2,569 11.8% Hook and Pull 4,488 6.1% 4,016 18.5% Other 6,617 9.0% - 0.0% Total 73,657 100.0% 21,711 100.0% Australia carloads in November 2001 increased by 51,946 carloads. ASR's traffic increased by 2,676 carloads and the inclusion of AWR accounted for 49,270 carloads. ASR's gypsum traffic increased by 1,983 carloads while hook and pull traffic increased by 472 carloads. AWR's traffic was led by 11,943 carloads of alumina, 10,500 carloads of bauxite and 10,061 carloads of grain. The table below sets forth Australian carloading information for the fourth quarter of 2001 through November and the fourth quarter of 2000 through November. Included in Australia's 2001 carloads are the results of the ARG, which is composed of ASR and AWR: Australia by Q-T-D NOV % of Q-T-D NOV % of Commodity Group 2001 Total 2000 Total Iron Ores 27,242 19.6% 17,738 41.5% Grain 26,023 18.8% 7,727 18.0% Alumina 22,582 16.3% - 0.0% Bauxite 20,776 15.0% - 0.0% Other Ores & Minerals 14,881 10.7% 2,490 5.8% Gypsum 8,992 6.5% 6,271 14.7% Hook and Pull 6,392 4.6% 8,541 20.0% Other 11,851 8.5% - 0.0% Total 138,739 100.0% 42,767 100.0% GWI is a leading operator of short line and regional freight railroads in the United States, Canada, Mexico, Australia and Bolivia, and provides freight car switching and related services to industrial companies that have extensive railroad facilities within their complexes. The Company operates in five countries on three continents over 7,700 miles of owned and leased track. It also operates over an additional 2,700 miles under track access arrangements. This press release contains forward-looking statements regarding future events and the future performance of Genesee & Wyoming Inc. that involve risks and uncertainties that could cause actual results to differ materially including, but not limited to, economic conditions, customer demand, increased competition in the relevant market, and others. The Company refers you to the documents that Genesee & Wyoming Inc. files from time to time with the Securities and Exchange Commission, such as the Company's Forms 10-Q and 10-K which contain additional important factors that could cause its actual results to differ from its current expectations and from the forward-looking statements contained in this press release. SOURCE: Genesee & Wyoming Inc. -0- 12/13/01 /CONTACT: Thomas P. Loftus, Senior Vice President, Finance, Genesee & Wyoming Inc. 203-629-3722/ /Web site: http://www.gwrr.com/