NCSP Group’s revenue jumps 65.2 percent in 2011

Consolidated revenue (IFRS) of the group of companies of Novorossiysk Commercial Sea Port (NCSP Group) in 2011 soared 65.2 percent year-over-year to $ 1 billion 49.5 million, the Group financial statement said.

NCSP Group gross margin grew by 40.9% from the 2011’s numbers to $ 554.1 million, EBITDA increased by 32.3% to $ 550.3 million.

Novorossiysk Commercial Sea Port Group is the largest Russian port operator. The NCSP Group incorporates the following stevedore companies: PJSC Novorossiysk Commercial Sea Port, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NovorosLesExport, OJSC IPP, Baltic Stevedoring Company Ltd. and PJSC Primorsk Trade Port Ltd. Novoport Holding Ltd, which is beneficially owned by Transneft and Ziyavudin Magomedov (Summa Group), holds a 50.1% stake in PJSC NCSP.