Net profit of DeloPorts in H1’18 totaled RUB 2.9 billion, up 49.4% Y-o-Y
OOO “DeloPorts”, a major Russian stevedoring holding company, consolidating the assets of Delo Group in the grain and container segments, published its consolidated financial results for the six months ended 30 June 2018 in accordance with IFRS.
Key financials:
• Consolidated revenue RUB 5,416 mln (+34.2%)
• Consolidated EBITDA RUB 4,019 mln (+47.1%)
• EBITDA margin 74.2% as against 67.7% in 1H 2017
• Adjusted net profit RUB 2,916 mln (+49.4%)
• Operating cash flow RUB 2,943 mln (+55.6%)
• CAPEX RUB 1,542 mln (+189.3%)
• Net debt as of 30 June 2018 RUB 16,047 mln (three times growth compared to 31 December 2017 in connection with the placement of a new dollar bond loan)
• Net debt/EBITDA 2.2x as of 30 June 2018 versus 1.0x as of 31 December 2017
Key operating results:
• Total volume of cargo handling 4.6 mln tonnes (+30.3%)
• Grain handling volume 2.3 mln tonnes (+40.4%)
• Container throughput 185,898 TEU (+12.2%)
Key developments:
• New record volumes reported at NUTEP in March 2018 – 40,776 TEU;
• Since March 2018, all vessels entering DeloPorts terminals are serviced by own tugboats;
• The highest financial indicators of quarterly net profit and EBITDA for the entire history of the Company based on the results of the first half of 2018