NCSP Group has announced its consolidated financial results for the three months ended 31 March 2015 prepared according to International Financial Reporting Standards (IFRS).
NCSP Group revenue for the first three months of 2015 totaled $219.8 million versus $255.4 million in Q1 2014.
Group’s EBITDA in the reporting period increased by 11.0% or $16.7 million reaching $168.4 million. EBITDA margin rose to 76.6%.
In Q1 2015 NCSP Group recorded net profit of $71 million versus net loss of $32.2 million same time last year.
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 2014 totalled 131 million tonnes. Consolidated revenue to IFRS in 2014 totalled USD 956 million and EBITDA was USD 569 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.