NCSP Group posts IFRS net loss of US$104.7 mln for 2013

NCSP Group posted a net loss of US$104.7 million for 2013, primarily due to loss from impairment of goodwill in the amount of $259.9 million and exchange rate losses totaling $125.4 million, the Group’s press center says.

NCSP Group’s consolidated revenue comprised U$928.1 million in 2013 and EBITDA totaled US$510.4 million.

Revenue decreased by US$105.6 million or by 10.2%; and EBITDA reduced by US$81.1 million or by 13.7% versus that of 2012, mostly driven by a drop in Group’s cargo traffic by 11.3% or 18 million tons, of which crude oil contributed 19 million tonnes decrease, and grain  contributed 4 million tonnes decrease, while partially offset by 5 million tonnes hike in oil products transshipment.

NCSP Group is the largest port operator in Russia in terms of cargo turnover. In 2013, the Group handled 141 million tonnes of cargo. NCSP Group consolidates the following companies: PJSC “Novorossiysk Commercial Sea Port”, LLC “Primorsk Trade Port”, PJSC “Novorossiysk Grain Terminal”, OJSC “Novorossiysk Ship Repair Yard”, OJSC “NCSP Fleet”, OJSC “NLE”, OJSC “IPP”, CJSC “Baltic Stevedore Company”, and CJSC “SFP”.