Cargo turnover of NCSP Group in QI’2021 fell by 19.3% YoY

NCSP Group publishes Consolidated Financial Results for 3 months of 2021, prepared in accordance with International Financial Reporting Standards (IFRS).

Key Consolidated Financial Indicators of NCSP Group for 3 months of 2021

Indicator	UOM	3M 2021	3M 2020	Change	Change, %
Cargo turnover, incl.	million tons	27.5	34.1	−6.6	−19.3%
Liquid cargo	million tons	21.8	28.3	−6.5	−23.0%
Dry cargo	million tons	5.7	5.8	−0.1	−1.4%
Revenue	USD thousand	173,607	200,070	−26,463	−13.2%
EBITDA	USD thousand	120,592	146,404	−25,812	−17.6%
EBITDA margin	%	69.5%	73.2%	−3.7%	−5.1%
Profit / (loss) for the period	USD thousand	65,658	−43,883	109,541	249.6%
		03.31.2021	12.31.2020	Change	Change, %
Debt (incl. leasing)	USD thousand	599,425	602,071	−2,646	−0.4%
Cash and cash equivalents	USD thousand	207,292	190,598	16,694	8.8%
Net debt	USD thousand	392,133	411,473	−19,340	−4.7%

Consolidated cargo turnover of NCSP Group for Q1 2021 amounted to 27.5 million tons, which is 6.6 million tons less than in Q1 2020. The main impact on cargo turnover, as well as revenue and EBITDA, was a decrease in the transshipment of liquid cargo, including crude oil, by 5.5 million tons due to macroeconomic restrictions developed since April–May 2020 due to the pandemic and the OPEC+ agreement.

The net profit for Q1 2020 was greatly influenced by the revaluation of debt foreign currency obligations. Its impact on net profit in Q1 2021 was less significant.

NCSP Group is the largest port operator in Russia by cargo turnover. PJSC Transneft is PJSC NCSP's controlling shareholder (62%).

PJSC NCSP shares are listed on the Moscow Stock Exchange (ticker NMTP), and also on the London Stock Exchange in the form of global depositary receipts (ticker NCSP). NCSP Group unites the companies PJSC NCSP, Primorsk Trade Port LLC, JSC Novorossiysk Ship Repair Yard, JSC Fleet NCSP, SC NCSP Fleet, IPP LLC, Baltic Stevedore Company LLC and SFP LLC. PJSC NCSP and PJSC Transneft own NCS LLC on a parity basis.