NCSP posts the Q1 twofold income surge, to $83.941m
First-quarter net income of the Group of Novorossiysk Commercial Sea Port (NCSP) under IFRS jumped two times as much from Q1,2009, to $83.941 million, the Group’s statement said.
The three-month consolidated revenues of NCSP increased by 11.7% to $175.5 million. The quarter proceeds from services (handling of liquid, bulk and general cargo, including bunker) rose by 17,3 % to $138.766 million. The adjusted EBITDA for Q1 totaled $121.4 million versus $114.2 million in the corresponding period last year.
The three-month consolidated revenues of NCSP increased by 11.7% to $175.5 million. The quarter proceeds from services (handling of liquid, bulk and general cargo, including bunker) rose by 17,3 % to $138.766 million. The adjusted EBITDA for Q1 totaled $121.4 million versus $114.2 million in the corresponding period last year.
As of March 31st, the Group’s debts was at $455.7m, with the current portion of long-term loans, repayable within 12 months after the reporting date is $134.6 million. The short-term debt increase was due to repayment of a three-year syndicated loan of $118 million in July 2010.
Novorossiysk Commercial Sea Port is the largest Russian port operator. Last year’s throughput of NCSP was 86.5 million tons. Consolidated revenues of the Group for 2009 under IFRS amounted to $675.1 million, net income - $252.2 million
NCSP Group incorporates the following stevedores: Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Shipyard OJSC, NCSP Fleet OJSC, NovorosLesExport OJSC, IPP OJSC and Baltic Stevedoring Company.
Novorossiysk Commercial Sea Port is the largest Russian port operator. Last year’s throughput of NCSP was 86.5 million tons. Consolidated revenues of the Group for 2009 under IFRS amounted to $675.1 million, net income - $252.2 million
NCSP Group incorporates the following stevedores: Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Shipyard OJSC, NCSP Fleet OJSC, NovorosLesExport OJSC, IPP OJSC and Baltic Stevedoring Company.