DeloPorts revenue increased by 33% in 2020 according to IFRS
DeloPorts, a stevedore asset of the largest transport and logistics holding in Russia, Delo Group, has consolidated financial results for 2020 in accordance with International Financial Reporting Standards (IFRS).
Key financial indicators:
• Consolidated revenue RUB 13,099 mln (+ 33.2%)
• Consolidated EBITDA RUB 10,620 mln (+ 57.2%)
• EBITDA margin 81.1% versus 68.7% in 2019
• Operating cash flow RUB 8,988 mln (+ 60.4%)
• Capital expenditures RUR 1,949 mln (-52.9%)
• Net debt RUB 21,594 mln (-2.4%)
• Net debt / EBITDA 2x versus 3.3x as of 31 December 2019
Key operating indicators:
• Total volume of cargo handling 11.2 mln tons (+ 36.1%)
• Grain transshipment volume 5.1 mln tons (+ 43.3%)
• Container turnover 487 thous. TEUs (+ 29.8%)
The indicated revenue and EBITDA are the highest in the entire history of the stevedore holding.
During 2020, the assets of DeloPorts set several records: in the monthly transshipment of NUTEP Container Terminal in March - 50,518 TEU, in the monthly transshipment of KSK Grain Terminal in September - 667,991 tons, and in the annual transshipment of grain at the end of 2020 - 5.1 million tons.
Moreover, a new effective mobile application for the freight forwarders has been introduced at NUTEP Container Terminal, which makes it possible to speed up the transportation and inspections, as well as to minimize interaction with the terminal’ employees.
In 2021, DeloPorts will complete the implementation of a large investment project “Reconstruction of the grain terminal with an increase in cargo turnover to 4 million tons” by the beginning of the grain season, within the framework of which a permit from Rosmorrechflot has already been obtained to launch the deep-water grain berth No. 40A, fleet, motor transport and railroad components have been updated.
Igor Yakovenko, Chief Executive Officer of DeloPorts, commented on the financial results for the year: “The results of 2020 were expected for us, throughout the entire period we felt a gradual but continuous increase in cargo traffic, an increase in the load on our capacities.
Without a doubt, the result is very good, by far the best in the history of DeloPorts. It is doubly pleasant that both the employees and the equipment have withstood such a serious load with a large margin. This means that we are ready to move on and that our investments pay off. I would like to sincerely thank the management and all employees of DeloPorts for the contribution that each of them made to our common cause and common achievements".
Related links:
DeloPorts receives permit for commissioning new grain berth>>>>
Turnover of DeloPorts terminals grew by 36% in 2020>>>>