NCSP Group has announced its consolidated financial results for the nine months ended 30 September 2016.
NCSP Group’s revenue for 9M 2016 totaled $649 million.
Group’s EBITDA increased by $28.6 million* or 5.9%* y-o-y and totaled $516.9 million*.
Net profit for 9M 2016 totaled $488.5 million versus that of $156.5 million for 9M 2015.
Cash and cash equivalents increased nearly fourfold since the beginning of the year and reached $383.2 million.
The Group’s debt including financial lease reduced by $14.9 million, while net debt reduce by $289.4 million or 20.6% y-o-y. Net debt/LTM EBITDA ratio improved to 1.62* versus 2.14* at the beginning of the year.
NCSP Group Key Financial Indicators
|
(in thousand USD) |
9M 2016 |
9M 2015 |
Change |
Change % |
|
Revenue |
649 305 |
654 676 |
-5 371 |
-0.8% |
|
EBITDA* |
516 929 |
488 353 |
28 576 |
5.9% |
|
Profit for the period |
488 469 |
156 502 |
331 967 |
212.1% |
|
(in thousand USD) |
30.09.2016 |
31.12.2015 |
Change |
Change % |
|
Debt (including financial lease) |
1 496 605 |
1 511 516 |
-14 911 |
-1.0% |
|
Cash and cash equivalents |
383 209 |
108 671 |
274 538 |
252.6% |
|
Net debt* |
1 113 396 |
1 402 845 |
-289 449 |
-20.6% |
|
Net debt / LTM EBITDA |
1.62 |
2.14 |
|
|
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 2015 totalled 139.7 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, JSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.