In Q1 2014 NCSP Group posted net loss of $32.2 million against $37.8 million in QI'13.
NCSP consolidated revenue in Q1 2014 increased 6.7% year-on-year to $255.4 million. EBITDA increased 10.4% year-on-year reaching $151.7 million.
Commenting on Q1 consolidated financials PJSC NCSP CEO Yuriy Matvienko said:
«In the first quarter of 2014 NCSP Group succeeded in growing its revenue and EBITDA through quality improvements in the cargo mix, increased volumes or certain cargo, partially thanks to the effect of the terminals’ re-equipment and operating efficiency boost programs.
Recovery in grain volumes was the key driver for revenue growth contributing $15.8 million of extra revenue. Revenue from oil products and container handling increased by $2.7 million and $2.2 million on the back of volumes growth.
On the other hand, these positive developments were partially mitigated by the $10.2 million reduction of crude oil revenues».
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP shares are traded on Russia's Moscow Exchange and on the London Stock Exchange in the form of GDRs. NCSP Group cargo turnover in 2013 totalled 141 million tonnes. Consolidated revenue to IFRS in 2012 totalled USD 928 million and EBITDA was USD 510 million. 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.