NCSP Group’s Q1 net profit rises 1.9 times to RUB 4.8 billion
Novorossiysk Commercial Sea Port (NCSP) says that it’s net profit under RAS reached 4.79 billion rubles in the first quarter of 2024, which is 1.94 times more compared to the Q1 2023 results.
Gross margin in the first quarter increased by 41.8% to RUB 5.8 billion, profit from sales increased by 45.3% to 5.38 billion rubles. NCSP's revenue in January-March reached RUB 8.78 billion (+26.8%).
NCSP’s net profit for 12 months of 2023, according to IFRS decreased by 13% to RUB 30.2 billion, revenue increased by 22.6% reaching nearly RUB 67.5 billion. NCSP’s net profit according to Russian accounting standards (RAS) over the past year increased by 7.4% exceeding RUB 29.3 billion, while revenue rose 17.9% to RUB 29.15 billion.
Novorossiysk Commercial Sea Port (NCSP) is Russia’s largest group operating in the Azov-Black Sea and Baltic Sea basins. The Group's assets include several dedicated stevedoring companies handling in the Port of Novorossiysk liquid bulk (crude oil, oil products, mineral fertilizers and edible oils), dry bulk (mainly iron ore, coal, chemical cargo) and break-bulk cargo (ferrous and non-ferrous metals, timber), as well as containers.. NCSP Group comprises JSC NCSP, JSC Novoroslesexport, JSC Novorossiysk Ship Repair Yard, LLC IPP, JSC Fleet of Norovossiysk Commercial Sea Port, LLC Baltic Stevedoring Company, LLC Primorsk Trade Port. NCSP and Transneft own LLC NCS 50/50.
