Global Ports reports loss of USD 53.0 million in 2017 compared to a profit in 2016
Global Ports Investments PLC (Global Ports) has announces its operational results and published its consolidated financial statements for the twelve-month period ended 31 December 2017.
The company reported a loss of USD 53.0 million in 2017 compared to a profit of USD 61.3 million in 2016.
Revenue in 2017 remained broadly flat at USD 330.5 million USD (0.3% decline compared to 2016).
Adjusted EBITDA in 2017 decreased 10.1% to USD 201.6 million.
Global Ports Investments PLC is the leading operator of container terminals in the Russian market. Global Ports’ terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal and Moby Dik in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland (Multi-Link Terminals Helsinki and Multi-Link Terminals Kotka). Global Ports also owns inland container terminals Yanino Logistics Park and Logistika-Terminal, both located in the vicinity of St. Petersburg, and has a 50% stake in the major oil product terminal AS Vopak E.O.S. in Estonia.