29.03.2019 NCSP Group’s Consolidated Financial Results for the 2018 Financial Year
NCSP Group (LSE: NCSP, MoEx: NMTP) hereby announces its consolidated operating and financial results for the 2018 Financial Year prepared under International Financial Reporting Standards (IFRS).
Transshipment of cargo for 12m 2018 totaled 140,209 thousand tons, including 100,541 thousand tons of liquid cargo, 17,584 thousand tons of bulk cargo, 14,965 thousand tons of general cargo, 6,121 thousand tons (620 thousand TEU) of containers and 997 thousand tons of other cargo.
NCSP Group’s consolidated revenue for the 2018 year increased by $51,422 thousand or 5.7% year-on-year and totaled $951,253 thousand.
The Group’s EBITDA and net profit in the reporting period totaled $669,433 thousand* and $268,111 thousand respectively. The decrease in net profit is mostly due to negative foreign exchange differences.
Cash and cash equivalents at the end of 2018 totaled $172,865 thousand. Net debt reduced to $844,177* thousand.
Net debt to LTM EBITDA ratio improved to 1.26* versus 1.64* as at the beginning of the year.
NCSP Group Key Financial Metrics for the Year 2018
* Management accounts
NCSP Group’s consolidated financial information for the year 2018 is available for downloading at: http://nmtp.info/en/holding/investors/reporting/msfo/
Additionally inform that the published consolidated financial statements for the year ended 31 December 2017 contain an error. The nature of the error and its impact on the financial statements is presented in the consolidated financial information for the year 2018 in Chapter 4 – Correction of a material error.
About NCSP Group
PJSC NCSP Group is the largest port operator in Russia by cargo turnover. Its controlling shareholder (62%) is PJSC Transneft.
NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group's volumes totaled 140.2 million tons in 2018. Consolidated revenue according to IFRS in 2018 totaled USD 951 million.
NCSP Group consists of PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, LLC Novorossiysk Grain Terminal, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, LLC IPP, Baltic Stevedore Company LLC (BSC LLC), and JSC SFP.
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