Global Ports revises 2014 CAPEX plan
Global Ports Investments PLC today announces that at a meeting on 14 March 2014, the Board of Directors of Global Ports updated the Group’s capital expenditure (CAPEX) program for 2014, the company said in its press release.
Driven by the recent acquisition of NCC Group Limited and rapid growth of the Group’s VSC container terminal in the Russian Far East, the Group has revised its 2014 CAPEX plan. The Group’s consolidated CAPEX for 2014 is expected to amount approximately USD 66 million, compared to USD 79 million spent by Global Ports and NCC Group on an illustrative combined basis in 2013. Over 95% of the CAPEX is expected to be spent in the Russian Ports segment.
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 1 and Moby Dik2 in the St. Petersburg and Ust-Luga port cluster, and Vostochnaya Stevedoring Company in the Vostochny Port) and two container terminals in Finland3 (Multi-Link Terminals Helsinki and Multi-Link Terminals Kotka). Global Ports Group also owns Yanino Logistics Park4 and inland Logistika-Terminal, both located in the vicinity of St. Petersburg, and 50% of the major oil product terminal, AS Vopak E.O.S., in Estonia. Global Ports acquired the NCC Group in the end of 2013.
In 2013, gross container throughput of Global Ports Group and NCC Group on an Illustrative Combined basis was 2,774 thousand TEU, a 2.9% increase compared to 2012 gross container throughput5. Global Ports Group 2013 revenue on an Illustrative Combined basis was USD 736.8 million, with an Adjusted EBITDA6 on an Illustrative Combined basis in 2013 of USD 420.0 million.
Global Ports’ major shareholders are Transportation Investments Holding Limited (operating under the brand name of N-Trans), one of the largest private transportation and infrastructure groups in Russia (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals B.V. is a global terminal network of 65 operating port facilities and 160 inland services operations, giving APM Terminals B.V. a global presence in 68 countries. 20.5% of Global Ports shares are held in the form of global depositary receipts listed on the Main Market of the London Stock Exchange. Ilibrinio Establishment Limited and Polozio Enterprises Limited (former owners of NCC Group) each own 9% of the share capital of Global Ports.