NCSP Group announced its consolidated operating and financial results for the three months, ended 31 March 2019, prepared under International Financial Reporting Standards (IFRS).
Transshipment of cargo in Q1 2019 totaled 35 950 thousand tons, including 26 540 thousand tons of liquid cargo, 3 678 thousand tons of bulk cargo, 4 092 thousand tons of general cargo, 1 509 thousand tons (161 thousand TEU) of containers and 131 thousand tons of other cargo.
NCSP Group’s consolidated revenue for Q1 2019 increased by $1 977 thousand or 0,8% year-on-year and totaled $239 885 thousand.
Group’s EBITDA and net profit in the reporting period totaled $186 684 thousand* and $167 737 thousand respectively.
Cash and cash equivalents at 31 March 2019 totaled $183 224 thousand. Net debt reduced to $837 794 thousand.
Net debt to LTM EBITDA ratio improved to 1,22* versus 1,26* at the beginning of the year.
NCSP Group Key Financial Metrics for the Q1 2019
|
(thousand US dollars) |
Q1 2019 |
Q1 2018 |
Change |
Change % |
|
Revenue |
239 885 |
237 908 |
1 977 |
0,8% |
|
EBITDA* |
186 684 |
167 997 |
18 687 |
11,1% |
|
EBITDA Margin* |
77,8% |
70,6% |
7,2% |
|
|
Profit for the period |
167 737 |
111 170 |
56 567 |
50,9% |
|
(thousand US dollars) |
31.03.2019 |
31.12.2018 |
Change |
Change % |
|
Debt (incl. financial lease) |
1 021 018 |
1 017 042 |
3 976 |
0,4% |
|
Cash and equivalents |
183 224 |
172 865 |
10 359 |
6,0% |
|
Net debt* |
837 794 |
844 177 |
-6 383 |
-0,8% |
|
Net debt / LTM EBITDA* |
1,22 |
1,26 |
|
|
* Management accounts
Additionally inform that in April 2019, the Group sold 99,9968% of LLC NZT. The transaction price was $543 709 thousand and should be adjusted by the amount of deviation of the actual working capital of LLC NZT from the estimated value of $4 600 thousand.
NCSP Group is the largest port operator in Russia and the third largest in Europe, in terms of cargo turnover in 2018. 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 cargo turnover in 2018 totalled 140,2* million tonnes. Consolidated revenue to IFRS in 2018 totalled USD $951 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk shiprepair yard, JSC FNCSP, JSC NLE, LLC IPP, LLC Baltic Stevedore Company, and LLC SFP.