The company’s consolidated revenue rose by 27%
The financial results (in accordance with IFRS) of DeloPorts, a stevedore holding of Delo Group, for the 6 months of 2021 show a steady growth compared to the same period last year, the company says in a press release.
At the same time, the company's debt burden continues to decrease in terms of the net debt / EBITDA ratio. The following key financial indicators were recorded for DeloPorts.
Consolidated revenue - RUB 7,009 million. (+ 27.0%); Consolidated EBITDA - RUB 5,726 million. (+ 30.6%);
EBITDA margin - 81.7% (+ 2.3%); Adjusted net profit - RUB 4,054 million. (+ 41.9%); Operating cash flow - RUB 3,722 million. (-0.6%); Capital expenditures - 691 million rubles. (-27.2%); Net debt (as of June 30, 2021) - RUB 21,720 million. (+ 0.6% compared to December 31, 2020); Net debt / EBITDA (30 June 2021) - 1.8x vs. 2.0x as of 31 December 2020
Commenting on the results, Igor Yakovenko, Сhief Executive Officer of DeloPorts, noted: “According to the results of the first half of 2021, the holding company showed significant growth in the container and grain segments by increasing the operating efficiency of the terminals. In the face of serious competition, the well-coordinated work of the terminals of KSK, NUTEP and Delo Service Company gave a noticeable synergistic effect and allowed us to achieve significant growth in revenue and EBITDA, as well as an increase in business margins.
DeloPorts has consistently got there more than comfortable debt burden in terms of the net debt / EBITDA ratio, first, in connection with the completion of work within the framework of a large investment project “Reconstruction of the grain terminal with a cargo turnover of 2.5 million tons per year with an increase in cargo turnover to 4 million tons per year”. We plan to see the positive results of the commissioned in July 2021 the deep-water berth No. 40A at the KSK Grain Terminal by the end of this year. "