NCSP Group has announced its consolidated financial results for the year ended 31 December 2016.
NCSP Group’s revenue for 12M 2016 totaled $865.6 million.
Group’s EBITDA increased by $18.5 million or 2.8% y-o-y and totaled $675.5 million.
Net profit for 2016 totaled $638.2 million versus net loss of $83.4 million in 2015.
Cash and cash equivalents doubled since the last year and reached $234.1 million.
The Group’s debt including financial lease reduced by $115.7 million, while net debt reduced by $241.1 million or 17.2% y-o-y.
Net debt/EBITDA ratio improved to 1.72 versus 2.14 at the end of 2015.
NCSP Group Key Financial Indicators
|
(in thousand USD) |
2016 |
2015 |
Change |
Change % |
|
Revenue |
865 591 |
877 191 |
-11 600 |
-1.3% |
|
EBITDA |
675 481 |
657 018 |
18 463 |
2.8% |
|
Profit for the period |
632 834 |
-83 427 |
716 261 |
|
|
(in thousand USD) |
31.12.2016 |
31.12.2015 |
Change |
Change % |
|
Debt (including financial lease) |
1 395 835 |
1 511 516 |
-115 681 |
-7.7% |
|
Cash and cash equivalents |
234 138 |
108 671 |
125 467 |
115.5% |
|
Net debt |
1 161 697 |
1 402 845 |
-241 148 |
-17.2% |
|
Net debt / LTM EBITDA |
1.72 |
2.14 |
|
|
NCSP Group is the largest port operator in Russia and the third largest in Europe, in terms of cargo turnover in 2015. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). NCSP Group volumes in 2016 totaled 146,9 million tons. Consolidated revenue to IFRS in 2015 totalled USD 877 million, and EBITDA was USD 657 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.