NCSP Group has announced its consolidated financial results for the six months ended 30 June 2016.
NCSP Group’s revenue in H1 2016 totalled $442 million.
Group’s EBITDA increased by $29.7 million or 9.0% y-o-y and totaled $357.8 million.
Net profit for H1 2016 increased by $113.7 million or 45.4% y-o-y to $364 million.
Cash and cash equivalents increased three times since the beginning of the year and reached $331.7 million.
The Group’s debt including financial lease reduced by 1 % y-o-y, while Net Debt/EBITDA ratio improved to 1.73 versus 2.14 at the beginning of the year, due to increase in cash.
The Group has substantially improved its financing terms, including interest rate and borrowing term, by attracting $1 500 million loan from VTB Bank to repay the Sberbank loan of the same amount in June 2016.
Interest rate on the VTB loan is LIBOR 3M + 3.99%; the term of the loan is seven years till June 2023, new comfortable repayment schedule of two $100 million payments per year is also in place.
Terms of the Sberbank loan included interest rate at LIBOR 3M + 5%, and a one-off repayment of $800 million at maturity in January 2018.
NCSP Group Key Financial Indicators
|
(thousand US dollars) |
6M 2016 |
6M 2015 |
Change |
Change % |
|
Revenue |
441 964 |
438 118 |
3 846 |
0.9% |
|
EBITDA |
357 812 |
328 119 |
29 693 |
9.0% |
|
Profit for the period |
363 982 |
250 282 |
113 700 |
45.4% |
|
(thousand US dollars) |
30.06.2016 |
31.12.2015 |
Change |
Change % |
|
Debt (including financial lease) |
1 497 090 |
1 511 516 |
-14 426 |
-1.0% |
|
Cash and cash equivalents |
331 653 |
108 671 |
222 982 |
205.2% |
|
Net debt |
1 165 437 |
1 402 845 |
-237 408 |
-16.9% |
|
Net debt / LTM EBITDA |
1.73 |
2.14 |
|
|