NCSP posts 30.6% revenue growth but swings to 9 month net loss
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Net loss of Novorossiysk Commercial Sea Port (NCSP) under Russian Accounting Standards (RAS) for the nine-month period 2014 jumped by four-fold compared with the same period last year to RUB 7.12 billion, the company statistics said.
Revenue for the same period increased by 30.6% to RUB 10,6 billion rubles.
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP Group cargo turnover in 2013 totalled 141 million tonnes. Consolidated revenue to IFRS in 2013 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.